We made a quick profit in Greenbriar Capital a few weeks ago and took it because it had become very overbought at resistance which created the risk of a reaction, so we decided to step aside
and await developments. It did react back as we can see on its latest 6-month chart, but not by much. As we view the price / volume action of the past couple of weeks we can see that it was bullish, with the price holding up well in a tight range and volume dying back, which means that a bull Flag has formed that will probably lead to another upleg similar in magnitude to the one preceding the Flag.
It is thus highly relevant to take into consideration that the company is likely to be granted the giant Montalva solar power generation project in Puerto Rico imminently, which will be the biggest solar project in the Caribbean. Whilst it is possible that for some reason the deal won’t complete, the chart certainly points to a positive outcome, and as this linked news release states, we should know in a few days.
This therefore looks like a very good point to buy the stock back and IT IS RATED AN IMMEDIATE STRONG BUY.
Greenbriar Capital website
Greenbriar Capital Corp, GRB.V, GEBRF on OTC, closed at C$1.17, $0.82 on 15th May 20.
Posted at 4.25 pm EDT on 17th May 20.