$NBEV is testing new highs

Ticker: $NBEV
Trading Strategy: Bullish breakout on higher highs


Summary:  $NBEV along with a couple of marijuana stocks ($TLRY) staged an incredible bullish breakout in September.  Fueled by the new marijuana stocks craze, $NBEV assaulted the highs resulting to bulls making about 266% gains in a short period.  The bullish breakout was then followed by a reality check bearish price action causing $NBEV to give back about half of the precious gains.  In the last few days, it appears like bulls took over again with an imposing volume increase creating two massive bullish candles as shown in the chart above.  Notice the volume build up.  At the moment, $NBEV bulls are testing the highs and a break could yield potentially good upside.

Trading plan: Watch for a break above $10.  If volume stays above average, this may offer good trading set up for long position.  If that happens, I will open long position with properly sized number of shares.  

Risk: Very high

Prediction: None


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