Nextech3D.ai (NTAR.C) is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. Nextech is a generative AI-powered 3D model supplier for Amazon, Kohls, P&G and other major e-commerce retailers. The Company develops or acquires disruptive technologies and once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.

Nextech3D.ai has spun out ARway.ai (ARWY.C) as a stand alone company, and most recently,  Toggle3D.ai (TGGL.C).

Today, the Company announced it has filed to change its name from Nextech AR Solutions Corp to Nextech3D.ai to better reflect its ongoing AI-powered business. The company intends to list its common shares on the Nasdaq Capital Market. Nextech3D.ai will be dual listed in the USA and Canada keeping its Canadian CSE listing as well as the listing in Frankfurt. Nextech has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities and Exchange Commission for purposes of a potential future offering of its securities in the United States.

Nextech3D.ai also announced that a large enterprise customer that is part of the Wesfarmers (WFAFY), one of Australia’s largest listed companies whose business include Bunnings, Kmart Group, Officeworks and others, has renewed and expanded its contract for over 1,000+ 3D models.

This comes after the renewal and expansion contract with a major ecommerce brand for 3000 3D models, and an enterprise contract with an S&P 400 company for over 5000 3D models.

Nextech3D.ai believes these renewal contracts, in addition to its multi-year supply agreement with Amazon, will strengthen its position in the 3D models for the ecommerce industry.

Equity Guru founder, Chris Parry, recently wrote and discussed the value in the technology. Have you ever bought anything online and the product received looked nothing like the 2D image you saw on the website?  Well then does Chris have a story for you! Be sure to read about his experience and how Toggle3D.ai really is a gamechanger for the world of commerce as it allows anyone to render a 2D image into 3D in no time.

The stock is up 3.85% at time of writing on today’s news. The company currently sits at a market cap of just over $59.3 million.

The stock is trading at a very important confluence zone. This is a major support, or price floor zone. If you look to the left of the chart, you can see this is where the stock bounced back in April 2023. This zone also coincides with the $0.50, a major psychological price level. Buyers are here as evident from yesterday’s candlestick. We printed a candlestick with a nice wick indicating buyers have stepped in and will defend this $0.50 support zone.

Now will Nextech3D.ai be able to turn around from here? Support zones tend to mark the end of a downtrend and where a new uptrend gets its first legs. Fundamentally, the company is putting out many press releases and the AI sector remains hot. The technicals are also promising here.

Going forward, a candle close above the $0.60 zone would go a long way to confirm a trend reversal. Downside pressure could still be seen as the stock has broken below a trendline and any moves higher to retest this broken zone could be met with selling pressure. A close above $0.60 would take out the current lower high, which from a technical analysis perspective, is what keeps the stock in a downtrend.