Investorideas.com
Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts    Investorideas.com crypto corner    Play by Play – the latest sports headlines and sports stock news

 

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

Drone Data Stock of Company that Assists Farmers in Improving Yields

Source: Clive Maund for Streetwise Reports

 

March 22, 2018 (Investorideas.com Newswire) Technical analyst Clive Maund is bullish on a company that uses drones to help farmers stay on top of their crops.


Deveron UAS Ltd. (DVR:CSE) is an interesting company, because it provides professional drone services to assist farmers in maximizing production. Deveron’s stock has not been so interesting over the past year or so, however, because it has basically moved sideways, and some of you may recall that we bought it last April and after missing the opportunity to sell on a rally soon after we got stuck with it.

Now though it looks like the company's prospects could be about to improve, perhaps dramatically, because there is clearly huge potential in what it does, and it is understood to be teaming up with the giant agri-company Monsanto, and another positive is that it has just successfully completed a financing.

So while there is certainly scope for the downtrend now in force to take the stock price back down to the nearby support shown on its 1-year chart in the C$0.20–C$0.23 zone, especially in adverse market conditions, there is considered to be a fair chance, given the positive factors just mentioned, that it will turn up here or very soon, from support at the lower boundary of the uptrend channel, and if so a sizable rally will be in prospect.

The 2-year chart is presented below so that you can see all of the action from where it came out of a long trading halt or period of suspension in mid-2016. There are 3 interesting points to observe on this chart. One is that it shows that the overall trend has been neutral since it started trading again, the next is that the C$0.21 area is clearly an important support level, as the price has reversed at this level four times now. Finally we can see quite strong volume kicking in on the rally in November and again in January, which is bullish, and makes it more likely that the uptrend shown will remain in force, which means it should turn up here.

Lastly, we will look at a 6-year chart, which shows all of the action since it started trading back in 2012. It is more evident on this chart that there is a considerable degree of compression in Deveron stock here as it is being forced into a narrowing range between the horizontal band of support at about C$0.21 and the falling trendline descending on it from above. Superficially this Descending Triangle looks bearish, but any bearish interpretation of this pattern is belied by the quite strong volume driving the November and January rallies, which imply that it will break out upside from the Triangle, and if it does, it is likely to make a big move.

Conclusion: the charts for Deveron look bullish, especially given its positive fundamentals. Holders should therefore stay long and it is rated a buy here and especially on any dip towards the support in the C$0.21 area. Deveron has 29.2 million shares in issue (fully diluted).

Deveron UAS Corp website

Deveron UAS Corp, DVR on Canadian Stock Exchange, closed at C$0.30 on 15th April 2018.

Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

Disclosure:

1) Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Deveron UAS Ltd.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Deveron UAS Ltd., a company mentioned in this article.

Charts provided by the author.

CliveMaund.com Disclosure:

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.


TechSectorStocks.com - investing ideas in tech stocks - mobile payments, social media, AI and Robotics, Drone Stocks, GPS, Internet of Things (IoT)

Like Tech Stocks? View our Tech Stocks Directory  Get News Alerts on Tech Stocks



More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire http://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: http://www.investorideas.com/About/Private_Policy.asp