RONN Inc. (OTC:RONN) Stock In Focus After Joint Venture Agreement

In light of the announcement from the company on Tuesday, it is quite likely that the RONN Inc. (OTC:RONN) stock would come into focus among investors today. It could be a good idea to take a closer look at the announcement today.

The Highlights

The company announced yesterday that Ronn Ford, its Chief Executive Officer, would go into a meeting with Hydrogen Energy Systems (HES) executives at some point during the week to turn the letter of intent signed between the two companies into a joint venture agreement. It was also noted that both parties had grown their operations considerably since the signing of the letter of intent.

The company’s CEO stated that RONN had been working with Indigenous First Nations in Canada for the establishment of hydrogen hubs that would use wind turbines for the purpose of producing green hydrogen. Such a state of affairs would also help in cutting on energy costs considerably.

The Joint Venture

The joint venture between the two companies would be focused on the integration of the Hydrogenin Horizons PEP electrolyzer with the Hydra-Pak systems. It was also noted that the setup would be used on wind turbines as well as the production and storage of hydrogen in the low-pressure storage containers of Hydra-Pak.

Technicals

+/- EMA(20)	0.0008 (-25.00%)
+/- SMA(50)	0.0016 (-62.50%)
+/- SMA(200)	0.004 (-85.00%)
5-Day Perf.	-14.29%
1-Month Perf.	-40%
3-Month Perf.	-71.43%
6-Month Perf.	-53.85%
YTD Perf.	-97.67%
1-Year Perf.	-98.15%
RSI(14)	41.07
ATR(14)	–
ADX(14)	14.13