After making a move from $.0003 to almost $.004 BBDA has pulled back and consolidated.
I think we are on the verge of seeing another big move higher for BBDA. The stock withstood a strong sell off after hitting recent highs and has been trading in a tight range ever since. Volume has been dwindling compared to the volume we saw at the start of this rally in early June.
The risk is also there for a decline back to prior levels. I think that will happen at some point this year, but for now from a bullish perspective the chart look compelling. With the company stating they are not diluting the stock further and additional buying pressure should send the stock past resistance at $.004.
BBDA issued news today July 23rd:
STATESVILLE, N.C., July 23, 2012 /PRNewswire via COMTEX/ -- Bebida Beverage Company (OTC markets: