Bellrock Brands on verge of potential breakout.

14 янв. 2021 г.

There has been a noticeable shift in cannabis stock sentiment over the past 2-3 weeks and some of the top market cap charts that had been forming bottoming/basing patterns recently are now showing breakouts, or are on the verge of attempting a breakout. BellRock Brands is one of the lower market cap cannabis stocks that looks to be on the verge of a breakout based on two chart patterns as well as bullish technical indicators. A move above .18c with conviction, and on volume, would be bullish in the short-term and likely lead to a move near .30c before any significant selling materializes.

No entry for me just yet, waiting to see the breakout above .18c in the chart first which is recommended for trend/momentum trading. Entries can be made here in the expectation of a breakout, but tight stop-loss orders are recommended in the event of a reversal. I'll likely share an update on Friday after markets close for the week, or if a significant change in price occurs.