XEBRA Brands Ltd. (XBRA:CSE; XBRAF:OTCQB) has worked out well for us. The day after we bought it again on the 22nd March it was briefly halted and when it started trading again the next day it broke out of a base pattern as we can see on its latest 6-month chart below and proceeded to rise sharply on very strong volume — this volume was even more impressive in the U.S. traded stock.
Aware that it could react back some we weren’t minded to take all or partial profits because of the very strong volume pattern and volume indicators.
What has happened in recent days is that it has reacted back in a measured and modest manner with volume declining in a manner which strongly suggests that a small bull Flag is forming that will soon lead to another strong upleg.
We therefore stay long and this is viewed as a very good spot to add to positions or make fresh purchases.
Xebra Brands website.
XEBRA Brands Ltd, XBRA.CSX, XBRAF on OTC, closed at C$0.215, $0.172 on 1st April 22.
Originally posted on Clive Maund.com at 4.35 pm EDT on 3rd April 2022.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
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