Alliance Creative Group, Inc. ACGX
Between this morning’s news, and the current state of the ACGX chart, we figured it was time to revisit this play. The stock has been under consolidation since the exceptional gains it has provided for us over the past couple of weeks, although it has held a decent level of support.
For those who don’t recall the specifics- We first alerted ACGX on April 16th (.0055), were rewarded with a run up to .011 (100% Gain), followed by a dip to the .0075 area, and a subsequent 25% move back up to .01.
As we stated above, the chart is in another consolidation pattern, so now is the time where we observe very closely for any signs of a reversal. As you can see on the annotated chart below, we’re looking to see support hold here at .0077. Should that not occur, we’ll need ACGX to hold support above our initial alert price.
This morning’s news is intriguing, outlining the company’s intent to cater to the rapidly-expanding marijuana sector, and service its printing and packaging needs. With all the new pot-related businesses that are springing up, surely there will be a great need for branding, and top-quality product presentation is one of the cornerstones in that area. The upcoming Cannabis Investor Conference in Denver will be an excellent litmus test for ACGX’s potential in the popular market space, as a multitude of legal and medical marijuana entities will be in attendance.
CHICAGO, IL–(Marketwired – April 30, 2014) – Alliance Creative Group, Inc. (ACGX) (www.AllianceCreativeGroup.com), is pleased to announce that it will be the Official Printing and Packaging Sponsor along with being a Presenter for the 1st Annual Cannabis Investor Conference in Denver, Colorado at the Denver Downtown Westin Hotel on June 29th to July 1st, 2014. The conference will connect privately held and publicly traded companies in the cannabis industry with industry investors, analysts, and tobacco companies and will include presentations, industry keynote speakers, panel discussions and one-on-one meetings. >>> FULL PR
The conference will be held just prior to Washington State’s planned start to legal recreational sales (Currently slated for July), so it gives us the impression that the sector as a whole could undergo a revitalization this summer, and ACGX could find itself reaping some of the benefits.
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PTEK, SGYP, RFMD, ZA, ASTI, GFIG