Tautachrome Inc (OTCMKTS:TTCM) is a bounce-back play after a sudden slump from one-year highs. The stock is increasingly showing signs of rallying again after finding support at the $0.01 level. The confirmation that the stock is staring at possible listing on the QB tier of the OTC market is one of the catalysts fuelling the upward momentum.
Tautachrome Price Analysis
The unveiling of the ARknet 1.0 platform for the creation and sharing of augmented reality objects is another development that continues to strengthen investor confidence in the stock. However, it is the confirmation that the company is on the cusp of becoming a revenue-generating entity that continues to excite investors.
Investor response to the flurry of positive developments has helped affirm the $0.01 mark as a crucial support level. Above the critical technical level, Tautachrome remains supported for a bounce back to one-year highs of $0.03. Standing in the way of further rallies is the $0.02 mark, which is the immediate resistance level.
A rally followed by a close above the $0.02 level could pave the way for the stock to register new higher highs, given the strength of the upward momentum. Conversely, failure to hold above the $0.01 level could leave Tautachrome exposed to plunging back to this year lows below the $0.01 mark.
What Does Tautachrome Do?
Tautachrome casts itself as an emerging growth company focused on opportunities in the internet application space. The company is currently exploiting opportunities for growth around augmented reality as well as blockchain technology and cryptocurrencies. The company already has high-speed blockchain concepts under development.
Revenue Generation Prospects
Tautachrome has taken a flight in recent weeks on the confirmation that a transition to a revenue-generating entity is on track. The company has already started generating revenues from its ARknet platform marking an important milestone in pursuit of shareholder value. The company is currently in the process of creating a sustainable revenue generation model that should provide a solid path for growing the company.
“Revenue from ongoing activities within the app will allow us to continue to improve the features and functionality of the app as well as provide a solid path for growing the company and increasing shareholder value,” Tautachrome in a statement.
ARknet 1.0 is the company’s flagship program from which it hopes to create significant value by making it possible for people to create and share various geological augmented reality objects. A growing community of ARknet community underscores growing acceptance in the market with vast opportunities. Tautachrome is currently positioning the platform to become an internet communication tool with high levels of security and privacy.
“The Company is working very hard to achieve liftoff with our Ark net platform riding on our own KLK cryptocurrency to achieve truly global and frictionless consumer interactions using the virtual relocated Ark net Arks. As a key part of successful liftoff, we have terminated our selling program under which we have been selling KLK20 tokens,” Tautachrome in a statement.
In addition to the generation of revenues from the ARknet platform, Tautachrome has confirmed plans to carry out a one billion, share reduction, as part of an effort of reducing stock dilution. The reduction comes hot on the heels of the company increasing authorized shares to 6 billion in March as it sought to accommodate reserve requirements. Management has since confirmed there are no immediate plans to carry out any reverse stock split.
Tautachrome’s evolution underscores a company in a phase of robust growth. The company starting to generate revenues from its ARknet platform should continue to excite investors, consequently strengthen market sentiments.
The stock flying to one-year highs on a high turnover of traded shares signals renewed investor interest after a roller-coaster 2018 that saw the stock shed a significant amount of market value. While the stock has pulled lower, the pullback appears to have presented a unique opportunity from where bulls are once again showing signs of pushing the stock higher.
That said Tautachrome is likely to continue edging higher in line with emerging uptrend as underlying fundamentals continue to strengthen investor confidence. Any dip in TTCM should be viewed as a buying opportunity.
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Disclosure: We have no position in TTCM and have not been compensated for this article.