Bevcanna Enterprises Inc. (OTCMKTS:BVNNF) On The Way To .38?

Bevcanna Enterprises Inc. (OTCMKTS:BVNNF) has been on a slide since February. Investors want to know, when will it stop?

Market Action

Shares of Bevcanna Enterprises Inc. (OTCMKTS:BVNNF) finished up another rough week Friday. Trading closed at .505 down 9% losing .05. Volume was 273k shares heavier than its 168k 30 day volume average. four out of five days BVNNF closed lower.

News Highlights

BVNNF issued news Saturday when the markets were closed.

Here are a few highlights:

BevCanna Signs Third Consecutive White-Label Manufacturing Agreement

BVNNF signed a definitive agreement with St. Peter’s Drinks, to co-manufacture CBD and THC-infused beverages for its international beverage brand, Green Monké (“Green Monké”).

St. Peter’s Drinks is employing BevCanna’s white-label partnership model, which allows non-licensed partners to enter the Canadian cannabis market seamlessly and compliantly.

St. Peter’s Drinks’ Green Monké brand is a cannabis beverage brand well-established in the United Kingdom. Launched in 2018, Green Monké became the #1 selling cannabis beverage in the U.K. by 2019 and launched in California in the spring of 2021.

“St. Peter’s Drinks is a perfect fit for our white-label partnership program,” said Melisa Panetta, President of BevCanna. “We’re excited that they’re bringing a top selling brand to Canada and have chosen BevCanna as a key partner to get them to market.”

Traders Notes

BVNNF has been on a slide since February down 58% since its high.

Pivot points to keep an eye on are .59 .62 and .70 above and .51 .46 and .38 below.

BVNNF is trading below its 5, 10, 20, 50 and 100 day moving averages a very bearish sign.

At this point unless something happens to turn BVNNF around, it looks like the next stop will be .38. This is the price that acted as resistance in November and December of last year and may offer some support.

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