Penny Stock Highlight: DBCCF

Cannabis companies are all over the OTC markets. Curaleaf Holdings Co. (OTCMKTS:CURLF), Trulieve Cannabis Corp. (OTCMKTS:TCNNF), Harvest Health & Recreation Inc. (OTCMKTS:HRVSF), Charlotte’s Web Holdings Inc. (OTCMKTS:CWBHF) – I could go on and on.

But I won’t. Because while all of these stocks are members of the cannabis sector, there’s only one that deserves your full attention today.

And that’s Decibel Cannabis Company Inc. (OTCMKTS:DBCCF), the name at the top of the 15 penny stocks on our Breakout Watchlist.

I’m not looking at DBCCF today because of a stellar earnings report, or a big-money trade, or a partnership announcement.

No, I’m looking at this stock because a big volatility event is coming – one that could drop a 100%, 200%, 300% profit in your pocket.

That’s what the technicals are telling me. Let’s take a look…

Let’s Get Technical

Today, DBCCF sits at about $0.28. Its 52-week high is $0.30. If it were to go back there, that’s a 7% jump.

But this chart of DBCCF from April to today is screamingthat the stock is ready for a break to new highs – ones that would translate into a much greater profit than 7%.


Click To Enlarge
DBCCF Feb-Present, courtesy of stockcharts.com
Volume is slowly increasing here – you can see that in the red and grey bars at the bottom of the chart. And if it really starts to explode, then new highs will follow.

Now, let’s look at the Bollinger bands, represented by the pink lines. The stock is sitting right under the top band right now, preparing for a break above $0.29. That will trigger a volatility rally all the way to $0.33 and beyond.

The technicals are supporting the continuation of a bullish trend. That much is clear. But now, we have to ask a very important question…

How do you play it?

Action to Take

Here’s how to profit off of DBCCF’s bullish run:

Buy DBCCF at $0.30 or less. Add a 5% trailing stop when the stock hits $0.34 good-‘til-canceled.
I’ll tell you exactly when to sell for an impressive Penny Hawk profit. But until then, you can track this trade’s performance right here in the portfolio.

Watch Me Live Trade Twice a Day, Every Day

Every day the market’s open, I host a live trading show on Money Morning Live at 10:30 AM. Just like these Penny Hawk issues, we spend time analyzing the day’s market movement… and then, we play it.

But there’s one key difference – it’s all happening live. And we’re talking about more than just the OTC market.

Today, I released trades on well-known names like Advanced Micro Devices, Fuelcell, and Cassava Sciences.

If you missed it, then you can catch a replay right here on the Penny Hawk media page. And you can tune in tomorrow, and the next day, and the next…

 

Because I’m live right here every day at 10:30 AM sharp.

But if that’s not enough for you, or if you can’t make that mid-morning time, then listen up. Because I go live again at 3:30 to trade the close.

This session, however, is for members of my Night Trader service only. That’s because it’s jam-packed with trades that we track from beginning to end.

Yesterday afternoon, in fact, I released three new trades during our live session – two of which were up 25% or more this morning.

Learn how to join right here.

I hope to see you there,


Chris Johnson


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