ASX: BCB - Long IdeaHi All,
Today's idea is tasking a long position on BCB. Just an idea.
Thanks,
James
BCB
BCBprice closed above 10 day ema + above all others. Past trendlines are acting as s/r levels and providing a tradable range. looks decent adx downslope making me question size of move but PDI cross is a positive
Is COT trading in a giant Bull Flag?Maybe a descending triangle as well, but seeing the recent bullish upward since Goldman Sachs recommended a buy rating from neutral.
It actually appears as though COT has formed a Triple Bottom, which also appears slightly as a Ascending Triangle. The triple bottom is similar to the double bottom chart pattern and may also look like ascending or descending triangles.
When STZ entered the Cannabis space they used Goldman Sachs to broker the deal.
Goldman Sachs went bullish on Cott a in July, and why? Well, we know Goldman Sachs is supportive of cannabis via the previous brokered deal with STZ & Canopy. They'd be privy to any Safe Banking & States Act regulations, so that may simply be the answer, front running Cott's entry into the cannabis space?
Cott has sold off several assets over the past couple years & have some cash to spend, and seeing so many previous Cott employees in the Cannabis space leads me to believe they may make a surprise entrance into the sector..
BCB - Widening BB Continues To Drive The StockTrend: Bullish
Rst: 0.38/ 0.41
Spp: 0.35
Widening Bollinger Band may continue to drive the stock higher given strong trading volume emerges with magnitude of RSI spike suggest the momentum may continue to stay.
Is Cott entering the cannabis space? I know that when Canopy entered the Cannabis space they used Goldman Sachs to broker the deal.
Goldman Sachs went bullish on Cott a few months ago, and why? Well, we know Goldman Sachs is supportive of cannabis via the previous brokered deal with Canopy, and they'd be privy to any Safe Banking & States Act regulations, so that may simply be the answer....
Cott has sold off several assets over the past couple years & have some cash to spend, and seeing so many previous Cott employees in the Cannabis space leads me to believe they may make a surprise entrance into the sector..
On a micro technical level it looks like Cott may have formed a double bottom, with the right bottom slightly lower & is trading in a bull flag.
On another note, It could be also be a descending triangle, and a double top with the right top being slightly higher, only time will tell.
The 200 Day MA isn't far away either, interesting.
