Watch for a breakout in shares of Greenlane Renewables Inc (TSX:GRN) as it is setting up below the upper trendline of a multi-month continuation pattern
Dwight Galusha | November 15, 2021 | SmallCapPower: Greenlane Renewables Inc. (TSX:GRN) is setting up below the upper trendline of a multi-month continuation pattern. Watch for a breakout as it would suggest (signal) a continuation of the uptrend.
Greenlane Renewables is in the RNG business, turning ‘waste’ gas, such as that created from decomposing food in landfills and cow manure, into usable natural gas to power trucks, feed into existing natural gas pipelines, and to create fertilizer. Think of it as natural gas recycling.
The Company recently reported its third-quarter 2021 financial results, in which Greenlane delivered its fifth consecutive quarter of record revenue ($13.4 million) with over 100% year-over-year growth and a record sales order backlog of $47.1 million as of September 30, 2021.
During Q3, Greenlane also announced new contract wins totalling $18.9 million for the supply of five biogas upgrading systems.
The Company ended the quarter with cash and equivalents of $35.6 million and no debt.
Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
To read our full disclosure, please click on the button below:
 as it is setting up below the upper trendline of a multi-month continuation pattern.){kind=link}