As many of you that know me already know, I am a big fan of technical charts. When it comes to stocks, the first thing I look at is the chart. In this piece though, I am going to cover the business as well as the stock (from the technical standpoint). Well, what stock is that?
San West, Inc. is traded on the OTCBB under ticker symbol “SNWT”. The company came about through a reverse merger recently with Human BioSystems, Inc. It was announced on 28 September that the company name and ticker symbol was changed to reflect the merger and the new business.
San West’s Business
San West designs, manufactures, sells and repairs off-road buggies as well as providing the ever popular aftermarket performance products and accessories for these off-road buggies. San West’s products are sold through three divisions:
- Retail Store Locations
- Online Store
- Dealer network
San West has embarked on a marketing campaign for the 3rd and 4th quarter to bump revenues up. This includes an online campaign where San West’s competitors have generally been failing. Additional Buggy World dealerships are being pursued for increased market coverage and distribution territory as well as distributorships and industry alliances. Advertising, online marketing and social media campaigns are also in the works by the company’s management team as well. Increasing the distribution of industry brand names, promotion of the Buggy World repair shop as well as increasing variety and quality of product inventory is all in the works right now.
Stock in a Solid Uptrend
So what has all this resulted in with regard to the marketplace so far? Well, exactly what most, if not all technical traders want to see; an up-trending stock. The stock has maintained a solid uptrend over the last several weeks. It is interesting to note that this most recent trend was established from a solid base. Over the last 3 days, the stock successfully tested short term support at the 10 day moving average. Today, SNWT reversed to the upside which could be an indicator that the stock is done with consolidation and ready to move up again next week.
Disclosure: No position in SNWT
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