Breakout for Newborn Acquisition Corp. (NBAC) in the Charts?

An ascending triangle pattern has formed in the chart of Newborn Acquisition Corp. (NBAC).  This is a bullish pattern and if the resistance level is surpassed, a breakout could ensue…

Newborn Acquisition Corp. (NBAC) operates as a blank check company or special acquisition special purpose acquisition company (SPAC). A SPAC is designed to take companies public without going through the traditional IPO process.

NBAC launched in February 2020 when it raised $50 million by selling 5 million shares at $10 each. It announced it would bring Nuvve, an EV charging company, public. Nuvve offers vehicle-to-grid solutions. In other words, when cars are plugged in and not in use, they can contribute back into the grid.

Take a look at the 1-year chart of NBAC below with my added notations…

See chart and continue reading at STOCKNEWS.com