LONG 3.5k shares of $OGI @ $.73 $OGI showing bullish trend change signals here at $.73 for long-term #Potstock exposure.
Technical analysis:
- Bullish RSI divergence showing on Monthly & Weekly chart which suggests and upside rally soon.
- Momentum oscillators and MACD are buried and curling up from lows on all time frames chart..
- possible double bottom test here at $.70-.75 best seen on daily and hourly chart..
- Emotional retail investors are the main price action driver so a final shake out of weak hands that have accumulated over the years & grown impatient with the lack of stock appreciation seems likely. With that said, share price could see a possible $.68 washout over the next couple weeks with sector tailwinds and industry consolidation.
- Institutional investors are still waiting on the sidelines for the market to mature, however, I feel they will be late to the party on any major industry catalysts discussed below and the bottoming processing is occurring now.
Fundamental analysis:
- Low cost producer, pot stock industry Licensed Producer pioneer with the best cultivation knowledge
- Strong balance sheet with large cash position to stalk and act at the perfect time to enter Germany or US market, either through a convertible note or acquisition.
- Strong cash to debt
- strong price to book of .6 and price to sales of 1.98 which suggests undervaluation
- Management continues to learn and watch from other publicly traded companies success and failures in the US market to keep shareholders interest in mind when getting exposed to US markets
- Very compliant to Canadian and other country industry regulation. Leader in market share in Alberta and expanding into Winnipeg (gummies). Largest Hash producer in Quebec
- Currently exporting to Israel (cannadoc) & Australia, and looking to expand into US and Germany
- British American Tobacco's significant investment (BAT) suggests strong partnerships in product and industry regulation research. Big Tobacco wants to be exposed to Cannabis and chose Organigram as an entry into a very regulated market that they have to be cautious
- Canadian indoor grown cannabis is a premium brand in many countries,
- Potstock sector tailwinds look to finally be slowing down and priced in like safe banking act failing & other regulations priced in
- margins growing driving efficiencies , long term vision
- CAD likely to rally against the USD here to reduce foreign exchange impact
Catalysts:
- federal legalization in US
- reschedule of cannabis in US
- market competitor shake out that will happen over time and industry consolidation
Risks:
- Continued common stock dilution with ATM share offering and stock compensation
- Emotional Retail Investors continue to liquidate while smart money accumulates below <$1
- Nasdaq delisting however, intrinsic value suggest share price is undervalued below $1. Company mentioned they would reverse stock split if it came down to it
- US and other countries slow progress on regulation
- Industry wide tailwinds and sell offs
Although OGI has produced highly inconsistent earnings , the company should be back flirting with free cash flow. Risk reward remains favorable with a tangible book value of nearly $1.64 per share limiting downside. The future is bright with Organigram. One of the best balance sheets in the industry, a great team with great execution, both on the retail side execution sales excellence, and in cultivation and production. Organigram will expand outside of Canada offering exposure to many different markets and opportunities for share price appreciation
Potstock
NRTH -- Starting new bullish trend. Pot stocks are hot again!Bullish MACD cross is signalling the start of new bullish trend. Good volume today. Recently raise $5M at .21 and trading at discount.
WMD - Bullish reversal. Pot stocks are hot again.Bullish Engulfing candle + bullish MACD cross indicating reversal.
Trade Alert part 4 : SNDL $4 then $7SNDL is not just a PUMP, though it did get pumped harder than I expepcted! No worries if you bought @ $3 since this will still be going up. Average down traders..
SNDL will be at least in double digits range this year but lets focus on getting back to $4 resistance and $7 Price Target first.
Buy the dips..
Good luck!
CANNABIS INDEX [NASDAQ:NQNACE]The Searching of a PotStockBottom II
NASDAQ YEWNO NORTH AMERICA CANNABIS ECONOMY INDEX
NASDAQ:NQNACE
RENKO
PriceLine Chart
RSI
RSI + MFI
ACB Critical Areas To Watch! Hello Traders!
Welcome to today’s chart update which will be from the Canadian MJ sector – ACB – Aurora Cannabis Inc. This pot stock is testing a critical area; price may put in a new local higher low and or break the trend and negate the whole market structure…
Points to consider
- Potential Triple Top
- Price testing critical support zone
- Local support at $2.60 region
- Stochastics projected upwards
- RSI testing support
- EMA’s giving price resistance
- Volume increasing
- VPVR showing low volume of transactions
ACB is testing a very critical support zone at current given time which must hold to maintain the overall market structure. This zone has in confluence the .618 Fibonacci level, a bounce is probable however we need noticeable strong bull volume to push price back up.
The stochastics is projected upwards from very low regions which signify that the bulls have a lot of stored momentum if a bounce was to come to fruition. The RSI is testing support, historically, a test of support leads to a bounce back to neutral area from oversold territories.
The EMA’s are giving price resistance, we need to see it cross bullish otherwise a break of the critical zone will be more probable.
The volume is picking up, as mentioned before, we need to see it sustain bull volume if a bounce was to come to fruition from current level.
VPVR is quite interesting and favours the bears as there is very low volume of transactions between the two segments of the critical support zone and the local support zone. This tells us that the bears will be more probable to reach its technical targets due to the low level of resistance from the VPVR.
Overall, IMO a break from this trend line will further confirm the triple top analysis as the market structure will be negated, failure of putting in a new higher low. This is quite bearish; ACB will be more probable of testing lower levels…
What are your thoughts?
Please leave a like and comment
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
JWCA:TSXV - James E Wagner Cultivation: potentially bottomingJWCA:TSXV - James E Wagner Cultivation: after breaking down from the 80c range it was trading in for a couple weeks JWCA has so far found support just above a previous consolidation zone from mid January. watching for a move up above 76c and 80c as potential confirmation. The MJ sector is currently weak still and despite positive news today from their JWC2 facility, it was not able to hold any gains. Price action remains stuck under the 50dma & 200dma, with a potential death cross coming this week on the two averages. While these indicators are not in a bullish setup, I remain long term bullish on the stock.
Near term catalysts: first harvest from phase 1 JWC2 facility which will represent their first harvest for recreational use greatly expanding revenue. Just announced JULY 2 that they doubled the capacity at JWC2, with the next phase getting licensed from Health Canada and will be into production ASAP.
My opinion is this little LP has some great IP in their Growth Storm Technology as well as great quality cannabis and is significantly under valued relative to peers on a capacity basis yet which tend to have lesser quality cannabis.
The Green Organic Dutchman Holdings: LARGE Cannabis producer Reentry level to watch:
Description
The Green Organic Dutchman Holdings Ltd., through its subsidiary, The Green Organic Dutchman Ltd., operates as a cannabinoid-based research and development company in Canada. It produces organic cannabis products, including organic dried cannabis, cannabis oils and edibles, fresh cannabis, and seeds for medical applications. The company was incorporated in 2016 and is headquartered in Mississauga, Canada.
New: finance.yahoo.com
Current Total Square Ft: 620,000
Future Total Square Ft: 970,000
Location: Montreal, Quebec, Canada
Website: www.tgod.ca
Number of Employees: 41
Market Cap: 1.575B
Ave Volume: 766,404
Waiting for the wedge to breakSeems like we should be getting an upwave soon, but I'm just not 100% on my wave count here. Our volume looks good on that last big upwave, suggesting to me that it's only wave 3. We got a double top on the RSI for that wave though, which might point to a good sell out point for wave 5. That last big sell off where 4 is might be a decent support.
Keep an eye on that wedge though.
If we go down I'd say 1.08 at the worst
I'm assessing my risk and staying in for the long game. OCT 17th BABY!!