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Spire's 15-minute chart shows RSI overbought, Bollinger Bands narrowing.
ByAinvest
Monday, Aug 25, 2025 9:31 am ET1min read
According to Spire's 15-minute chart, the Relative Strength Index (RSI) has reached an overbought level, and the Bollinger Bands are narrowing as of August 22, 2025, at 16:00. This suggests that the stock price has risen too quickly and exceeds its fundamental support. Moreover, the magnitude of stock price fluctuations has decreased, indicating a potential reversal in the upward trend.
Greenwave Technology Solutions, Inc. (GWAV) has announced a reverse stock split of its common stock, effective August 22, 2025, at 5:00 p.m. EST. The reverse stock split, which will be implemented at a ratio of 1 post-split share for every 110 pre-split shares, aims to increase the per-share trading price and meet Nasdaq compliance requirements [1].The reverse stock split will reduce the number of shares outstanding from approximately 62.8 million to about 570,858 shares. Stockholders will not need to take any action for the adjustment, and any fractional shares will be rounded up to the nearest whole share. The changes will be reflected in trading on The Nasdaq Capital Market starting August 25, 2025 [1].
Greenwave operates metal recycling facilities in Virginia, North Carolina, and Ohio, and plans to expand by acquiring additional scrap yards. The company’s recycling facilities support environmental benefits, which could enhance its reputation and attract socially responsible investors [1].
The announcement of a reverse stock split could signal that the company is struggling to maintain its stock price above the minimum required for continued listing on The Nasdaq Capital Market, which may undermine investor confidence. Additionally, the drastic reduction in outstanding shares may lead to increased volatility in stock price and can be perceived negatively as a sign of desperation to meet regulatory requirements [1].
According to Spire's 15-minute chart, the Relative Strength Index (RSI) has reached an overbought level, and the Bollinger Bands are narrowing as of August 22, 2025, at 16:00. This suggests that the stock price has risen too quickly and exceeds its fundamental support. Moreover, the magnitude of stock price fluctuations has decreased, indicating a potential reversal in the upward trend [2].
References:
[1] https://www.quiverquant.com/news/Greenwave+Technology+Solutions%2C+Inc.+Announces+Reverse+Stock+Split+Effective+August+22%2C+2025
[2] https://www.spire.com/chart
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