GCGX shows the hallmarks of a productive accumulation base over recent months, with a multi-stage RSI Bull Divergence: diminishing selling intensity as support holds in place.
In many cases, this type of pattern is the footprint of smart money being put to work by strong hands with a deep understanding of the business context.
That wouldn’t be a surprising characterization of this stock at present, given its recent progress on permitting and its expansion into the lucrative Florida market. The macro context also provides justification for this interpretation, as the broad bear market in the cannabis and CBD space appears to be over, giving way to a new bull market phase.
About GCGX
GCGX (Global Consortium Inc.) owns Indulge Oils (www.indulgeoils.com), a cannabis distillate which is currently being manufactured and marketed in California.
Indulge Oils is a premium "pesticide free" product sought after brand as it is known for its purity and high quality. Indulge Oils produces clean and pure oils that do not contain any residual particles, are non-toxic and non-carcinogenic.
This is why Indulge Oils commands a premium for its oils and cartridges. Global Consortium, Inc. executed a 5-year lease with an option to purchase 25,000 square feet in Sacramento, CA.
In January/February of 2020 a new edible brand owned by GCGX will begin rolling off the line in Sacramento and sold through the Distribution and Delivery suite. During 2020 new products will be introduced including beverages.
The company is currently also expanding into the state of Florida.
Key Points:
• GCGX is beginning to shift to commercial-stage operations, with big revenue growth potential as the cannabis and CBD marketplace starts to see robust traction after a long bear market.
• GCGX recently secured necessary permits for its flagship Sacramento location and is now ready to start producing full-out
• GCGX has put in place a multi-stage bullish RSI divergence during its long basing phase, suggesting potential upside ahead.
• GCGX is a major opportunity in the global CBD market, which is estimated to grow at over 125% CAGR over the next five years.
• GCGX is also expanding, with growing operations in the thriving Florida market ready to come online.
In many cases, this type of pattern is the footprint of smart money being put to work by strong hands with a deep understanding of the business context.
That wouldn’t be a surprising characterization of this stock at present, given its recent progress on permitting and its expansion into the lucrative Florida market. The macro context also provides justification for this interpretation, as the broad bear market in the cannabis and CBD space appears to be over, giving way to a new bull market phase.
About GCGX
GCGX (Global Consortium Inc.) owns Indulge Oils (www.indulgeoils.com), a cannabis distillate which is currently being manufactured and marketed in California.
Indulge Oils is a premium "pesticide free" product sought after brand as it is known for its purity and high quality. Indulge Oils produces clean and pure oils that do not contain any residual particles, are non-toxic and non-carcinogenic.
This is why Indulge Oils commands a premium for its oils and cartridges. Global Consortium, Inc. executed a 5-year lease with an option to purchase 25,000 square feet in Sacramento, CA.
In January/February of 2020 a new edible brand owned by GCGX will begin rolling off the line in Sacramento and sold through the Distribution and Delivery suite. During 2020 new products will be introduced including beverages.
The company is currently also expanding into the state of Florida.
Key Points:
• GCGX is beginning to shift to commercial-stage operations, with big revenue growth potential as the cannabis and CBD marketplace starts to see robust traction after a long bear market.
• GCGX recently secured necessary permits for its flagship Sacramento location and is now ready to start producing full-out
• GCGX has put in place a multi-stage bullish RSI divergence during its long basing phase, suggesting potential upside ahead.
• GCGX is a major opportunity in the global CBD market, which is estimated to grow at over 125% CAGR over the next five years.
• GCGX is also expanding, with growing operations in the thriving Florida market ready to come online.