Aphria the love or hate it stock in the cannabis sector.
Aphria had in it's recent 4 th Quarter a EPS beat of 175% Record Net Revenue of $128.6 Million, Up 75% from Prior Quarter Revenue for Adult-use Cannabis of $18.5 Million, Up 158% from Prior Quarter The only licensed producer in Germany with the permission to grow all three strains of medical cannabis approved by the German Federal Institute for Drugs and Medical Devices.
For fiscal year 2020, the Company expects: Net revenue of approximately $650 million to $700 million, with distribution revenue representing slightly more than half of the total net revenue Adjusted EBITDA of approximately $88 million to $95 million.
Seems to me this is a wonderful opportunity in the cannabis industry.
We can see on the chart, that the long term parallel channel, has acted as support and resistance several times. and should maybe be considered the guideline or base of aphria, We can see when it gets overextended in either direction it retraces back to the channel. Of now Aphria remains in a symmetrical triangle, tested the lower support line and rejected 3 times and filled the earnings gap, also notice the strong accumulation on the volume.
Safe Banking act bill has passed the house and will now move on to the senate. This will in the short term be a catalyst and can put fuel on the fire and lead aphria & the sector up and test the upper symmetrical trendline at 9-10 $.