The Nevada corporation Sibannac Inc (OTCMKTS:SNNC) was in the news cycle on Monday after it made a key announcement on Monday and brought further focus on its stock. It should be noted that the stock has been in the middle of a strong rally over the past week and has managed to generate gains of as much as 9% during the period.
Trading Data
On Monday, SNNC stock fell 1.07% to $0.12 with more than 67.5k shares, compared to its average volume of 146k shares. The stock has moved within a range of $0.1191 – 0.1270 after opening trade at $0.1213.
Sibannac, Inc. Pursues Patented Technology And Identifies Products For New Consumer Brand
The company is in the wellness products space and yesterday Sibannac announced that it had managed to sign a non-disclosure agreement with a technology company relating to a wearable tech product meant for the healthcare industry. In this context, it is also necessary to remember that the patent for the product is still pending.
It goes without saying that it is a significant development for Sibannac, especially at a time when the wearable technology industry is growing at an impressive pace. On the other hand, the company also noted that ultimately it would be looking to acquire the tech firm altogether and then control the research as well as development aspects. Hence, it is not surprising that investors have grown significantly optimistic about the Sibannac stock. It might be a good time to add it to your watch lists.
Technical Data
SNNC stock is trading below the 20-Day and 50-Day Moving averages of $0.13 and $0.13 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.23. The stock is down 8% in the past month.
