Global Tech Industries Group Inc (OTCMKTS:GTII) Stock Moves in a Narrow Range After The Recent Move

Global Tech Industries Group Inc (OTCMKTS:GTII) stock continues to trade in a narrow range over the past few trading sessions. The stock has lost 12% over the past month.

Market Action

In the previous trading session, GTII slid 4.76% to $1.20. A total of 97k shares traded for the session hands, compared to its average volume of 217k shares. The stock opened at $1.28 and moved in a range of $1.2000 – 1.2800.

Recent News

GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES SIGNING OF LETTER OF INTENT WITH CLASSROOM SALON

Global Tech Industries announced today that it has signed a non-binding Letter of Intent (“LOI”) with Classroom Salon, (“CS”), www.classroomsalon.com a limited liability company organized under the laws of the state of Pennsylvania. The intent of the LOI is to work to define the terms of an acquisition of the outstanding equity of CS by GTII, which would include all of CS’ assets and liabilities as set out in the agreement.

CS uses interfaces, workflows, and proprietary algorithms, providing a tool to author, deploy, teach, and assess school courses, seminars and other study groups and then integrates them with other learning platforms at many educational levels. It has created a new environment for managing the complexities of online discussions, as its platform has comprehensive dashboards and can provide visualizations of community-driven annotation around semantic similarities. Further, the technology can also facilitate capturing and indexing video and text from any source to make for easy retrieval and collaboration between multiple partners and platforms.

CS is also looking to build out a roadmap for incorporating various blockchain technologies, like student digital IDs and NFTs as proof of certifications, into the software.

Key Quote:

David Reichman, Chairman and CEO of GTII stated, “Classroom Salon is one of those rare opportunities that a company like ours will always endeavor to engage with, even if the learning curve is initially a steep one. Our technical team has already put together a plan to study the synergies between CS’ learning platforms and the blockchain technologies we have been working with for some time now. I am confident that our team can find a way to create something new and brilliant from this potential union.”

Trader Notes:

From the technical point of view, GTII stock looks bearish with the stock trading below its 50-day and 20-Day SMA stand at $1.61 and $1..36 respectively. RSI stood at 36 – signals neutral trend.