Buying 1,000 shares of ZBISF just before close today May 30 at Market.
ZBISF (Zenabis Global Inc) is a Canadian Cannabis stock trading Over the Counter. It is priced well under $2.00 per share and so is a “Penny Stock” and the trading volume is in my opinion “Low”. Normally liquidity is of importance. It allows one to dump, in case something goes wrong with the stock. This is being bought based on my new “After Work” Swing Trading ideas to “Test” them.
Checking the chart you see rising lows on RSI(2) and on MFI(4) and on the Detrended Osc and on the Stochastics. In my opinion, that is a safety net. If the price continues trading in the channel, then price could hit or close just above the Upper Bollinger Band. and come back to around the Middle between both bands.
Will I become a Millionaire with this trade? Sure, if the stock prices rises to over $1,000,000 US per share. That would be a historic OTC Stock move. If the Swing works out, then I might buy back in again. IMHO there looks to be upside potential. Trading volume is low and so can’t buy a lot of shares, but it’s a great chart to help confirm my new “After Work” Swing Trading idea.
Why buy at close instead of open tomorrow? I’m home today, so why not. The “After Work” idea is to buy or sell either at Open or at Close and not worry about trading during work hours (again this is not Day Trading).
Zenabis Global Inc also trades on the Canadian TSX in Toronto under symbol ZENA (or ZENA.TO).
Disclaimer: This post is not meant as Investment Advice, nor is it advice to buy or sell any shares in any company.. Do your own Due Diligence. Seek out the advice of your own financial and investment advisors before risking any funds in the Stock or Futures Markets. You can lose money and even all of it when investing at the Stock Market Casinos. This post is for my own educational purposes.
Posted by: Vincent Banial