TRAC.L Tracking a Descending Triangt42 (LSE: TRAC) specializes in the development of wireless solutions for remote tracking, monitoring, and protection of assets and people, particularly in the context of the global maritime shipping industry. They executed a reverse split back in November that brought share price from pennystock range to 18GBP, after which the ticker pulled back sharply as it sought to establish a new support, sinking to <10GBP by late November. A huge PR on 12/7 announcing t42's signing of an agreement with a consortium of LatAm shipping entities led to a 100% jump in share price, indicating a serious uptick in bullish sentiment. In the three weeks since, TRAC has assumed a descending triangle pattern as trade volume slows in the holiday season and global indices have expirienced their fair share of volatility over Omicron. I'm optimistic for a bullish breakout here, I think t42 is seriously undervalued and is at the beginning of a new journey. Their recent rebrand, reverse stock split, and now latest deals are all bullish signals in my book.
