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Bougainville Ventures Inc (CNSX: BOG) Signaling Bullish Breakout

Bougainville Ventures Inc (CNSX: BOG) Signaling Bullish Breakout
Written by
Jim Bloom
Published on
April 9, 2019
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Shares of Bougainville Ventures Inc (CNSX: BOG) are surging signalling a potential bullish breakout after a roller coaster 2018. The stock is already up by more than 200%, as a bounce back from all-time lows continues to gather pace.

Bougainville Price Analysis

A spike in share price and market activity follows the announcement that Bougainville Ventures has secured a tenant for its 10,000 square foot facility in Oroville Washington. The company expanding its footprint into Europe with listing on the Frankfurt stock exchange might also account for why the stock is skyrocketing.A break out past the $0.07 technical resistance level has opened the door for the stock to continue edging higher as part of the emerging uptrend. Considering the strength of the upward momentum, Bougainville Ventures stock could as well make a run for five months high of $0.25.After the recent spike, a pullback could be in the offing on investors moving to take profits. Pullbacks from current highs should pave the way for bulls who missed out, on the initial spike, to come back in and continue pushing the stock higher, in continuation of the emerging uptrend.Pullbacks could be restricted to the $0.07 level, which has emerged as the immediate support level, above which Bougainville Ventures remains bullish.

About Bougainville Ventures

Bougainville Ventures is a cannabis infrastructure company that develops and leases greenhouse used in the cultivation and product of cannabis. The company also offers seed-to-sale services to licensed cannabis growers across the US.

Why is Bougainville Ventures Surging?

The upside action on Bougainville Ventures price action appears to be picking pace on renewed investor interest. The company has seen its market sentiments inch higher on commencing site preparation on its Washington State Oroville campus.The company has already inked a lease agreement that paves the way for a Tier 3, 502 tenant to occupy its 10,000 square foot cultivation facility. The tenant in question is in the process of securing an occupancy approval from the Washington State Liquor and Cannabis Board.The Tenant intends to plant up to 20,000 sq. of outdoor crop as he is also licensed to build 30,000 square feet on the existing property.

“This first planting season signals a new phase for Bougainville concept of providing fully built out turnkey facilities to cannabis growers and processors. These facilities remove financial barriers for cannabis cultivators, as traditional funding can be limited. In addition, steps are being taken to get a second tenant up and running for the 2019 growing season. We are moving towards our goal of revenue generating self-sufficiency,” explains CEO Andy Jagpal.

The listing of Bougainville Ventures stock in the Frankfurt stock exchange also appears to have had a hand in a spike in trading volume in the market. Europe listing supplements listing in the Canadian Stock Exchange as well as OTCQ market place ideal for broadening the stock’s awareness on institutional investors around the world.

“Our listing on the Frankfurt Stock Exchange is an important step forward in the Company’s future growth internationally allowing European investors to capitalize on our ongoing expansion and opportunity in the Canadian and US cannabis markets,” added the CEO.

Late last year, Bougainville completed a 100% acquisition of Gene Bank Research Inc. Placing itself in a strong position to capitalize on emerging opportunities following the implementation of Cannabis Act in Canada.Gene Bank is poised to expand the Bougainville Empire into the business of bridging the gap between craft growers and licensed producers. Gene Bank joined the company with over 110 lab-tested craft strains developed by an experienced team of breeder’s ideal for strengthening Bougainville cannabis prospects.

What Next For Bougainville?

Bougainville Ventures bounce back from a harrowing crash is going on nicely. The stock remains well positioned to continue its solid performance given the underlying fundamentals fuelling the upside action.The phenomenal run over the past few weeks affirms the fact that bulls are in firm control. Pullbacks from current highs should attract more bulls especially those who missed out on the initial spike.As it stands, Bougainville has a lot of room to move on the upside as a bounce-back play.We will be updating our subscribers as soon as we know more. For the latest updates on CNSX: BOG, sign up below!Disclosure: We have no position in CNSX: BOG and have not been compensated for this article.

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