Primco Management, Inc. PMCM
PMCM has appeared in our reports a few times in the past, and from the current setup of the chart, we thought it would be a good time to take another look.
The stock is coming off of a recent bottom of .0013, and life is being breathed back into it, as it has started to run this week, yesterday reaching .0022 into the close. That figure also coincides with the stock’s 50DMA, so ideally we’d like to see the resistance there broken. In order for us to remain interested in PMCM we’d like to see it hold support above the 200DMA of .0016.
As you can see on the chart itself, we have bullish signals on both the RSI which is pushing toward the powerzone, and the diverging MACD. The stock was trading above .06 just a few months ago, so we’re still trading relatively close to the bottom.
PMCM is also a marijuana related stock; earlier this year, the company announced it had plans to build two 30,000 square foot production facilities in Washington State, where legal sales have been slated to begin this month. If the bull rush caused by the start of sales in Colorado is any indicator, we could be in for a second surge of public interest in cannabis stocks in the very near future, as we’ve been reminding our readers quite often.
Thus, in coming weeks we will be paying closer attention to PCMC, and indeed all of the pot stocks we’ve been continuously tracking for a long time, so expect to see further updates in this and other plays in the sector.