New Wave Holdings Inc (OTCMKTS: NWAV) In Expansion Mode

New Wave Holdings, Inc (OTCMKTS: NWAV) started off 2017 with a strong upward move that took the stock to $.0295. The stock has since retraced roughly 60 percent of the move, and is holding steady at a support level of $.0070 where it is trading now. The last time we analyzed the stock on March 28, 2017, the stock seemed to be recovering from the initial retracement following the high of the upward move at the beginning of the 2017. From a technical analysis point of view, the stock’s price action is forming a descending triangle with the support level at $.0070. If the stock does not break-down through the support level, and recovers at least 50 percent of the retracement from the high of the triangle pattern, a favorable buy setup will present itself. The financials and status of the company will need to support the buy signal.

For those not familiar with the company, New Wave Holdings, Inc. (NWAV) is a publicly traded holdings company dedicated to the development and launch of PAO Group alternative medicine clinics focused on 'non-traditional' patient care solutions. The realm of treatment solutions include cannabis, acupuncture, chiropractic, biofeedback, and other solutions depending upon patient needs. NWAV has recently merged with PAO Group, Inc., a physicians practice management company actively developing alternative medicine clinics focused on the proper use of cannabis for treatment of chronic and terminal patients.When we last reviewed New Wave Holdings, Inc, the company was in the process of getting Alternative Medicine Centers of America clinics in Orange Park, Jacksonville Beach and Fort Lauderdale, Florida up to speed. On April 11, 2017, the company announced the opening a clinic in the state of Ohio where the number of overdose from opioid deaths is alarming. Nearly 2,000 people died from opioid overdoses in Ohio in 2014. According to a University of Michigan study, patients reported a 64% reduction in their use of opioids when using medical marijuana lieu of the opioids to control chronic pain. Another study by Johns Hopkins School of Public Health indicated that in states where medical cannabis has been legalized, opioid overdose deaths have decreased by 25%.Alternative Medicine Centers of America Sandusky is its first corporate clinic in Sandusky, OH. The clinic will focus on opioid alternatives, including the proper use of cannabis for terminal patients as well as patients who suffer from chronic pain. The company will soon be opening another clinic in Cleveland, OH and expect significant demand there. New Wave Holdings’ CEO Robert Weber commented.

"As more and more physicians and patients look for opiod alternatives in treatments the demand for alternative therapies continues to grow. Findings of many recent medical studies show the dangerous side effects of opiod medications further increasing the demand for this growing market of alternative pain therapies. New Wave's PAO group is expertly positioned to meet the demands of this emerging market."

At the Company's first corporate location in Saint Augustine, FL, the corporate team is arranging a build-out of the facility, aiming for an opening June 2017. The second quarter will focus on the opening of new corporate and affiliate locations and overall growth of the company.Fourth quarter financials for 2016 have been reported, however, revenues expected from the series of Alternative Medicine Centers of America clinic openings that the company has engaged in have yet to come to fruition. Once revenues are realized, growth will follow. Current market capitalization stands at $4.84 million, on 605.18 million shares outstanding as of August 24, 2016. We will be updating our subscribers as soon as we know more. For the latest updates on NWAV, sign up below!Disclosure: We have no position in NWAV and have not been compensated for this article.