Published On: Mon, Jul 29th, 2013

NanoTech Entertainment Inc (OTC: NTEK)

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NanoTech Entertainment Inc (OTC: NTEK), closed strong against resistance Friday, July 16th, realizing over 18.5% in gains. Volume and buying pressure picked up on Friday, trading about 11.4 million shares. Indicators show that the downward momentum of NTEK may be coming to an end. Accumulation is high on the stock, with the MACD showing its decent. The share price saw over a month and a half of very consistent and considerable gains that gains from $0.009 to a high of $.1395.

On July 22nd, NTEK announced that the company had strengthened its commercial business by acquiring MagicScreen3D. This news helped to spike the share price to its all-time high. After over extending, the PPS has been in decline, meeting continued resistance by its 5-day moving average. Both the 50 and the 200 day moving average are beneath its current position.

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