Has the 2nd Rally Begun? Breaking News Says It’s Likely
/ ACCESSWIRE / July 22, 2014 / Has breaking news sparked another major rally in GrowBLOX Sciences Inc. (GBLX)? When we first labeled GBLX as our #1 Medical MJ Company back in May, we saw a 249% gain from $1.00 up to $3.49 in less than two weeks. After a recent pullback, GBLX looks to be setting up for another big rally as the investment community is taking notice of several strong press releases recently issued by the company. In just the past two days, GBLX has gained a solid 29% after testing support at $1.00. Could this be the beginning of another triple digit rally? Well, on July 21st, GBLX was the single highest gainer of all the MJ stocks. And to top things off, the intraday volume was 70% higher than the average 3 month volume. These are technical indicators that could be screaming breakout!
Just have a look at this chart:
GBLX has held $1.00 support for months and has no bounced off that level gaining 29% in just two days while volume is beginning to increase. At the same time, a downtrend resistance line is in place and a break above that line could ignite another huge rally that could result in triple digit gains.
Did Someone Say Short Squeeze?
Over the past couple months GBLX has been shorted heavily as short traders are blindly shorting almost every MJ stock in hopes that it is the next SEC halt. Well, those traders haven’t done their research very well because recent this company is a real as it gets with press releases showing a very bright future, and I mean near future. With the support level holding strong and the company issuing breaking news, short traders may be caught with their pants down as a break above the downtrend resistance line could ignite a massive short squeeze sending GBLX screaming to levels seen in late May.
There’s nothing short traders hate more than increase volume to the upside and ground-breaking press releases. Well, that’s exactly what GBLX has given them the last two trading days.
Friday, July 18, 2014 at 2:31pm EST: GrowBLOX Sciences, Inc. announces that they are applying for a Medical MJ dispensary and cultivation license in Illinois. GBLX went from $1.03 to a high of $1.20 after the released hit the wire.
Monday, July 22, 2014 at 7amEST: GrowBLOX Sciences, Inc. CEO Craig Ellins announced key updates on corporate developments and explained the company’s recent amazing progress. This release was accepted extremely well by the investment community as GBLX hit a high of $1.31 and closed at $1.29.
As you can see, GBLX seems to shoot higher with each positive press release to hit the wire. This is common activity typically seen before a short squeeze. Add a solid support level holding firm and short traders could soon be making a mad dash for the hills. Even Seeking Alpha contributors are publishing articles mentioning GrowBLOX Sciences, Inc. as a bargain at current price levels and MJ equity analyst Alan Brochstein has a Bullish call on GBLX. It seems like all the stars are aligning for what could be another huge rally for GBLX.
Did you miss GBLX when we first alerted it? Were you watching it go from $1.00 to $3.49? Then, don’t let that happen again! Have GBLX on your radar at all times. This could be the early stages of a multi-day run so act fast. A break above that resistance downtrend line could mean smooth sailing and clear skies for GrowBLOX Sciences, Inc., especially if they continue to issue ground-breaking press releases like they have been.
Let’s recap. In the past couple months, GrowBLOX Sciences, Inc. has:
Announced Insider Buying.
Entered the Florida Medical MJ Market.
Applied for a Dispensary and Cultivation License in Illinois.
Received a Special Use Permit for a Dispensary and a Cultivation Facility in Nevada.
Secured a Letter of Intent with First Security Bank of Nevada.
Received a Bullish Call from an MJ Equity Analyst.
What other MJ company can say they have achieved this much? None! GBLX has achieved more in a couple months than some others have in years. This company seems to be on the fast track to industry leadership and short traders are going to wish they stayed away.
Pull up GBLX now and don’t take your eyes off it. The current price point could end up being an absolute steal. This could be the beginning of another rally and we don’t want you to miss it. Stay tuned as we will continue to update you on corporate and industry news.
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