Alliance Creative Group, Inc. ACGX
We thought this morning would be a good time to touch upon ACGX again; for those readers that may be new to our reports, this printing and packaging stock has made repeat appearances in our newsletters dating back to 2012, and most recently, provided us with significant chances to profit.
We tracked ACGX over a 100% move back in April when the stock traded from .0055-.011, and followed as it came back to find support at the .0035-level the following month. From there, we saw another solid run up to a subsequent high of .0064, good for up to 82% in gains. Over the past several sessions the stock came back to bounce off of support at .0039, and on Thursday and Friday last week it began to move once again, back to the .005’s, so we want to keep an eye on ACGX as this new trading week kicks off.
As you can see on the chart below, ACGX has just seen the beginnings of another bullish trend. The primary area of resistance rests in the channel from the 50DMA (.0057) to the previous swing high of .0064. A break past that point, and we could really be looking at some serious gains.
As many of you already know, the 1st Annual WeedStock Cannabis Investor Conference is currently underway in Denver, CO, and ACGX will be making a presentation this morning (@10:45am in Classroom B). We’ll be anxious to see what the company may report in the near future on its experience at the show, and of course, we have representatives at the show as well, so we’ll be sure to relay our first-hand account of the event to everyone!