(NEW YORK)–The recent pullback in Crednology Holding Corp (OTCMKTS:COHO) share price Wednesday may offer traders the opportunity to enter this pending cloud computing play at a much more attractive price.
COHO stock has been on fire during the month of May on news of a pending acquisition of a cloud computing company, which is expected to close on or around May 31, 2018. Since this news was announced COHO has seen its stock price rise 1000% from $0.0002 to a high of around $0.0022 in recent trading.
Ludlow Research, an equity research firm out of New York City, issued an alert to their subscribers stating that any recent pullback in COHO price could offer a more attractive opportunity for traders looking to get into this cloud computing play.
The research firm made note that COHO impressive run up on high volume during the past month may have gotten a bit extended with the RSI hitting 80, and that the stock was overdue for a retracement back to retest key trendline support and moving averages.
In their opinion, any entry from $0.0009 to $0.0013, or just above the 20-day moving average, would offer a more reasonable entry point based as chart technicals. It’s their opinion the acquisition of the cloud company, which is expected to close around May 31st, and prospect for additional news in early June means that COHO story may only just be beginning.
Ludlow Research is expected to provide more detailed research report on this company following the acquisition through their investor mailing list at https://ludlowresearch.com/investors
According to OTC Markets, Crednology Holding Corp. currently has around 2 billion shares issued and outstanding, and is trader on the Over the Counter Market under ticker symbol “COHO”.
About Crednology Holding Corp.
Crednology Holding Corp, a Delaware corporation, is a public holding company that has been dedicated to enhancing shareholder value through a strategic combination of organic growth, mergers and profitable acquisitions.
The Company is engaged in the cloud computing segment of the technology sector as well as the Electronic Waste and Recycling business. The main products and services include cloud computing and virtual environment, disaster recovery and business continuity and managed services to corporate accounts as well as the recycling and disposal of E-Waste and other materials.
Essentially cloud computing is a way to save and/or access data from remote servers. The company’s Private Cloud solution provides fully working environment through our data centers located around the USA as well as real time redundancy and replication of the client’s data which will eliminate loss of data and minimize down time close to zero. Cloud computing is growing at a staggering pace. The industry is experiencing rapid growth with the cloud segment of business achieving a growth of over 20% per annum. E-Waste is also growing at a significant pace with double digit increases anticipated annually over the next few years.