MCOA Chart continuedHad to make this rebuttal video after someone disagreed with my video analysis from last night. I feel MCOA is still being supported by the 50 MA on the hourly and will have a breakout tomorrow. Book it!
MCOA trade ideas
An Update on $MCOA Price ActionRefer to the text within the chart to explore my opinions on future projections. OTC:MCOA
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange-traded funds, mutual funds, options, and money market funds involves risk of loss. Loss of principal is possible. Please exercise your own due diligence.
$MCOA Federal Legalization Play This is strictly a speculative play on federal marijuana legalization, with reform being a top issue in politics currently.
I dug a little deeper and found some promising words from the organization's CEO Jesus Quintero in an audio interview with SmallCapVoice.com, posted today on March 4th. Part of the transcript goes as follows:
“We have made great strides towards reducing our overall debt and overhead. Our new eCommerce platform emphasizes a leaner model with larger margins. More than that, we are maturing as a Company. We want to enrich the lives of our customers and our shareholders. We want to build a community that holds everyone in high regard. The global pandemic has isolated people. However, through our updated and enhanced social platforms we are reaching to let everyone know that you are not alone, and we are in this together.”
Quintero discusses how MCOA’s share exchange program with Cannabis Global Inc. (OTC: CBGL) has strengthened both companies’ balance sheets, as well as their ability to gain greater market traction and expand operations. That is just the beginning Quintero stresses, “It is more than just a share exchange. It is each company leveraging their core competencies to bring out the best for our shareholders. That is why I am so excited about the work we have launched with Eco Innovation Group, Inc. (OTC: ECOX), an innovative company aggregating investments in new technologies that promote environmental and social well-being, and the advancement of green energy solutions. We have strong synergies with ECOX and look forward to leveraging their recently acquired exclusive rights to a disruptive solution that holds the potential to upend traditional sourcing methods for extraction from medicinal plants and flowers for the holistic, cosmetics, and food markets.”
Quintero concluded, “We continue to be very optimistic about a national cannabis market here in the U.S.A. As I have said before, we are committed to establishing ourselves as the premier source of quality in cannabis products, processes, distribution, and development.”
Seems like $MCOA has a promising year ahead, with various partnerships and brand deals announced quite frequently. I really get the sense that they are attempting to capitalize on new leadership and the potential for federal cannabis legalization.
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange-traded funds, mutual funds, options, and money market funds involves risk of loss. Loss of principal is possible. Please exercise your own due diligence.
MCOA accumulation phase for a leg up or the next bull runThe daily chart of OTC:MCOA looks like bottoming, after being in a downtrend for a long time.
In terms of indicators, there is a bullish divergence both on RSI and MACD.
Also, the downtrend lacked volume but here in this bottom area the volume increased a lot, as you can see. This is evidence that smart/institutional money are accumulating.
My targets are as follow:
0.0127 (180% profit)
0.0380 (710% profit)
0.2070 (4450% profit)
$MCOA Marijuana Co of America bullish Possible trade setup imminent.
Waiting for move above pivot point and the 50ma turns support.
Entry level $0.2557 Target price $0.4103 60% return.
Indicators bullish and trending higher with room to run.
Company profile
Marijuana Company of America, Inc. engages in the research and development of legal hemp-based consumer products. Its product include hempSMART Brain, hempSMART Pain, hempSMART Pain Cream, hempSMART Drops, hempSMART Pet Drops, and hempSMART Face. It also offer financial accounting and property management services for companies associated with the cannabis industry in all stages of development. The company was founded by Donald J. Steinberg and Charles Larsen on October 4, 1985 and is headquartered in Escondido, CA.
MCOA Long Bullish IndicatorsProceed with caution, this is not financial advice. I merely intend to inform you of my observations and of my personal position. I am of course biased as I have already chosen to invest, but I feel bad not letting others in on this lesser known stock with very bullish outlooks.
I recognize bullish indicators in my Stoch RSI and in candle analysis. Also, the company is coming out with several new products, new partnerships, and spent 38 million in R&D last year, likely for their upcoming "Viva Buds" app wherein users can order cannabis to their door on a subscription basis. They purchased 20% and issued one million in stock of a local cannabis distributor to the CA area. The fact that they issued so much stock to business partners suggests to me that they expect its price to increase. I would assume they also spent money on app development, but far less. This means that this stock is a bunny waiting to hop. In 2000 before the crash with prices of over $600, lots of skips and hops after declining to 30 and below. Now at a price of .0059, where can the price lie in even 6 months from now when the app is at market? Since they invested in an existing distributor, the infrastructure is already there. Now, their software will enable the monetization of all of their R&D from last year. They already have a CBD lotion and other products at market. On top of that, today they filed for a reverse stock split. I am personally accumulating as much of this stock as possible while it is at what is essentially a round of public capital raise; a re-IPO if you will.
Be careful,
Best.
MCOA Monthly TF pennant - primed for breakout in MJ seasonMCOA, a star (or was it THE star?) of the 2016 MJ season with 5000% gains is painting a really beautiful pennant setup on the monthly with that 5000% gain as its flagpole. (Pennant TA says an upward breakout of pennant has a target equal to the flagpole height. Flagpole must be high volume and pennant must be declining volume. Breakout must be high volume.) Many folks discount TA on OTC and there's likely a lot of truth to that stance. However, the upcoming hemp legalization, CBD re- or descheduling, and lots of ballots and electioneering around legalization means that another MJ season is likely around the corner. The synergy between the technicals and hype cycle seem compelling. Finally, MCOA seems well positioned to take advantage of CBD rescheduling by the DEA at the end of September, given they offer a number of CBD-based products.
$MCOA Making moves Ready for 3rd Major leg up on Weekly Chart.$MCOA QUICK TAKE-AWAYS AND WHY I'M EXCITED!
1. Less than two weeks ago announced an investment of $250,000 for 15% of MoneyTrac Technology Inc.
2. Currently has Investments/Ownership/Joint Ventures with the following companies:
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3. $MCOA has its hands in real-estate for growing, brand marketing, hemp product ventures, and more. An area where several of upper management has succeeded before.
4. In April they formed a JV with Bougainville in which $MCOA will invest $1,000,000 into a newly formed entity for the purpose of housing tenant growers engaging in the cultivation, processing and commercial availability of legal marijuana in the State of Washington.Bougainville Ventures, Inc. will contribute its expertise in the construction and management of a 30,000 sq. ft. greenhouse facility, which will accommodate a Tier-3 production and processing I-502 tenant.
5. They completed a PCOAB Audit in late March to get ever closer in their move to the OTCQB Exchange.
6. In March $MCOA continued their national expansion with a production permit in Adelanto, California.
7. They launched their HempSMART website and HempSMART Brain product also this year: www.hempsmart.com
8. Audited Fins for the last two years completed
9. It's up 100,000% since 2015 and STILL going up. This might be the 3rd major leg forming now on the weekly chart.
9. The chart, need I say more? Lol
All in all I am liking what I'm seeing here. Go $MCOA!
