Blue Horseshoe Stocks: BZCN Report

BizAuctions, Inc. BZCN

Our point of focus this morning is BZCN, a stock whose potential we like for various reasons.

Currently the main business of BizAuctions involves the provision commercial liquidation services for excess inventory, overstock items, returns, etc. However, the company has made clear its intent to shift gears with regard to its business model.

One of the changes BZCN hopes to implement is a big item on the list of why we think this play has potential; per a recent press statement, it was noted that the company had retained legal counsel based out of Colorado to explore opportunities available to it in the burgeoning cannabis industry. We’d love nothing more than to have another marijuana-related stock to add to our expansive watchlist.

Apart from its unrealized aspirations, there is gathering evidence that shows BZCN‘s management has been making real strides toward getting the company’s affairs in order, beginning with the recent cleaning up of its standing with OTC Markets. BZCN submitted the necessary information to move up from Limited to Current Status.

Along with coming current with its reporting, BZCN recently announced a huge reduction in authorized common stock from 20 Billion to 2 Billion, which took effect on July 7th. It’s always promising when a company makes moves to clean up its share structure.

Also intriguing is the current setup of the BZCN chart. We’ve got an RSI that has just got above the 50-line, and the PPS has broken above the 50DMA. The MACD is pinching toward a bullish cross, and accumulation/distribution is starting to pick up.

You can also take a look at the video chart on BZCN that we prepared this morning:

There’s also a new PR out this morning that you’ll want to read over:

LAS VEGAS, NV / ACCESSWIRE / July 15, 2014 / BizAuctions, (OTC Pink: BZCN), The Company has signed a one (1) year lease on office space and is in the process of opening an office in Centennial, Colorado in Arapaho County. This new location will place the Company in close proximity to the epicenter of the Medical-Recreational Marijuana Industry. >>> READ FULL PR

Be sure to stay closely tuned in to further reports this week; we’ve got a couple of repeat plays coming up that have done well for us in the past. It should make for some exciting trading action, so stay glued to those inboxes!