Kaya Holdings Inc
Cannabis

Kaya Holdings Inc (OTCMKTS: KAYS) Jumps As Momentum Turns Bullish

Kaya Holdings Inc (OTCMKTS: KAYS) has bottomed out from all-time lows at the backdrop of huge turnover in traded shares, signaling a potential change in the direction of trade. A 40% plus spike follows the delivery of impressive operational results for the first three months of the year.

Kaya Holdings Inc Price Action Analysis

The announcement of key business developments including positive independent laboratory testing results, for cannabis strains, are some of the catalysts fuelling a spike from all-time lows. The confirmation that the Company has begun design works for a 26-acre Lebanon Oregon farm also continues to prop the stock’s sentiments among investors.

After a harrowing plunge over the past year, Kaya Holdings has started trending higher, waiting to see if the upward momentum has what it takes to continue pushing the stock up. The $0.08 mark is the immediate resistance level standing in the way of further upside action.

KAYS Daily Chart

A rally followed by a close above the $0.08 mark should pave the way for bulls to push the stock higher, with the next stop likely to be the $0.11 mark, the next substantial resistance level. Below the $0.08 mark, Kaya Holdings remains engulfed in a bearish trend and susceptible to further drops as part of the long-term Bear trend.

About Kaya Holdings Inc

Kaya Holdings engages in the legal recreational and medical marijuana business. The Company grows, harvests, and manufactures marijuana for medicinal purposes. It also operates outlets whereby it sells marijuana for recreational or medicinal purposes.

Why is Kaya Holdings Inc Bottoming Out?

Shares of Kaya Holdings are bottoming out of all-time lows on the announcement of operational results that underscore operational efficiency as well as growth trajectory. Top on the list is the confirmation of positive independent laboratory results for cannabis strains under development at the Kaya Farms brand.

The Company’s Spring Kaya Farms crop has already yielded seven cannabis strains with total cannabinoid content in excess of 20%. Kaya Holdings has also confirmed it has made progress in the development of Kaya owned cannabis brands. The latest additions are Kombi Extracts as well as Syzygy Extracts and Kaya Yums brands of extracts that the Company plans to go to market with soon.

“The brands join the Company’s Kaya Buddies™ pre-rolls, Kaya Gear t-shirts, and Really Happy Glass accessories already available at Kaya Shack™ stores. Upon successful completion of financing and licensing, KAYS intends to begin bringing the new products to market in 2019, with a multi-state rollout planned in 2020 to the extent permitted by U.S. legal infrastructure,” Kaya Holdings in a statement.

In a bid to accelerate the development of a robust pipeline of cannabis products, Kaya holdings has already begun designing a 26-acre cannabis production facility in Oregon. The Company is targeting up to 100,000 pounds worth of legal cannabis. The expansion also seeks to take advantage of a new policy that would allow licensed producers in the state to engage in Cannabis extraction business.

Franchising Drive

Kaya Holdings has also engaged the services of Garfinkle Biderman LLP law firm as it seeks to commence the sale of Kaya Shack Retail Marijuana Store Franchises.  The Company is currently in talks with a franchise-consulting group that is to spearhead the sales effort.

“We have always viewed our activities in Oregon as our learning ground, allowing us the opportunity to develop our business and operational models in one of the more competitive and dynamic cannabis markets. To paraphrase a famous phrase, we figure if we can make it in Oregon, we can make it anywhere,” commented Craig Frank, Kaya Holdings’ CEO.

Bottom Line

Kaya Holdings has started showing signs of climbing higher after coming under immense short selling pressure over the past year. A bounce back on huge turnover of traded shares provides a glimpse of renewed investor interest.

The Company has achieved significant milestones on the strengthening and expansion of its product line. Given that there is a lot of room to move on the upside, the stock is likely to continue edging higher having hit the floor.

For those looking for confirmation of a bottom, the stock finding support above the $0.08 mark would make it an ideal bounce-back play.

We will be updating our subscribers as soon as we know more. For the latest updates on KAYS, sign up below!

Disclosure: We have no position in KAYS and have not been compensated for this article.

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Kaya Holdings Inc (OTCMKTS: KAYS) Jumps As Momentum Turns Bullish
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