BTCanadian

CMED estabishing some higher support..

TSX:CMED   CANNIMED THERAPEUTICS INC
After some new money came in, sending the price upward of 14% in a 6 day period, CMED pulled back a little pulling up and over some resistance at ~39.80. Friday proved to be almost a complete day of indecision with volume high and in the red. This could be from possible whale activity, taking that quick profit that came along with last weeks upswing. What we need to see to confirm support in the current resistance window, indicated by the dotted and dashed red lines, is that we close in or above the area where the 5 and 8 MACD's meet the temporary dotted, green upward trend line . This will give us a third point of confirmation for the new upward trend line . If it closes below, re-tests 37.60 - 36.55 are most likely.

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