Long
Things startings to turn around in the Latin green space?
Updated
This one is a high risk play, so I only plan on putting a small chunk of change, but a play that's worth it imo.
1) They raised 14.5 million dollars On Nov 26, units being sold at 0.45, so right now we are getting a pretty good deal from that perspective and now they are cashed up with warrants exercisable at 0.75, so we won't have to worry about that for awhile and especially if we pick shares up at these price levels.
2) Marketcap below 60M, meaning really explosive movement (up or down)
3) Mexico is set to legalize at Dec 15
4) Khiron Medical Cannabis Products Now Qualify for National Insurance Coverage in Colombia and 94% of the Columbian population have health insurance policies.
5) Insider buying is starting to come in at 0.4 and they even picked up some warrants
Of course, their financials must had been trash based on price movement of this ticker, but based on the reasons listed above, I think they got a good shot and turning things around.
From a TA POV, we can see that there is a wedge, with the Nov candle being a bull trap, so it's noise. Right now it has broken out and it is in the process of retesting the wedge. No sign of bull strength as of now, perhaps tax loss harvestings is taking into effect. so we might be hugging the trendline of the wedge and support at 0 36 before moving up.
1) They raised 14.5 million dollars On Nov 26, units being sold at 0.45, so right now we are getting a pretty good deal from that perspective and now they are cashed up with warrants exercisable at 0.75, so we won't have to worry about that for awhile and especially if we pick shares up at these price levels.
2) Marketcap below 60M, meaning really explosive movement (up or down)
3) Mexico is set to legalize at Dec 15
4) Khiron Medical Cannabis Products Now Qualify for National Insurance Coverage in Colombia and 94% of the Columbian population have health insurance policies.
5) Insider buying is starting to come in at 0.4 and they even picked up some warrants
Of course, their financials must had been trash based on price movement of this ticker, but based on the reasons listed above, I think they got a good shot and turning things around.
From a TA POV, we can see that there is a wedge, with the Nov candle being a bull trap, so it's noise. Right now it has broken out and it is in the process of retesting the wedge. No sign of bull strength as of now, perhaps tax loss harvestings is taking into effect. so we might be hugging the trendline of the wedge and support at 0 36 before moving up.
Note
Looks like mexico just extended the the legalization debate to Feb 2020 mjbizdaily.com/mexico-delays-cannabis-bill-debate-pushing-approval-to-2021/
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