TA:
- there is usually a daily short-term resistance to MA50 (blue line at $2.50);
- the problem will be at $2.74-2.78 at the annual low of 2021 and at 23.8% of GNH, where it has already resisted twice: 17 May and 31 May '22 ;
- on the one hand we have a strong support between $1.47-1.79, which should not be broken anytime soon (or even ever) - as we would have to talk about a marketcap <$90M ;
'Realistic' target prices in my opinion: I'd say short/medium term (<1 year): $3.15-3.20 or even $4.25 // long term (>1 year): $4.25 - $6.80
I've also reduced the EP a lot... that's why I have smaller targets than the ones we had at the beginning, which for me have been unrealistic over the last few months.
Analyst Price Target on HITI ↪ $7.44 upside 365% (source TipRanks)
(i) High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs, manufactures, and distributes smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. In addition, the company provides data analytics services, as well as operates Grasscity.com and CBDcity.com platforms. As of July 13, 2022, it operated 128 retail locations in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan. The company was formerly known as High Tide Ventures Inc. and changed its name to High Tide Inc. in October 2018. High Tide Inc. was founded in 2009 and is headquartered in Calgary, Canada.
- there is usually a daily short-term resistance to MA50 (blue line at $2.50);
- the problem will be at $2.74-2.78 at the annual low of 2021 and at 23.8% of GNH, where it has already resisted twice: 17 May and 31 May '22 ;
- on the one hand we have a strong support between $1.47-1.79, which should not be broken anytime soon (or even ever) - as we would have to talk about a marketcap <$90M ;
'Realistic' target prices in my opinion: I'd say short/medium term (<1 year): $3.15-3.20 or even $4.25 // long term (>1 year): $4.25 - $6.80
I've also reduced the EP a lot... that's why I have smaller targets than the ones we had at the beginning, which for me have been unrealistic over the last few months.
Analyst Price Target on HITI ↪ $7.44 upside 365% (source TipRanks)
(i) High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs, manufactures, and distributes smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. In addition, the company provides data analytics services, as well as operates Grasscity.com and CBDcity.com platforms. As of July 13, 2022, it operated 128 retail locations in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan. The company was formerly known as High Tide Ventures Inc. and changed its name to High Tide Inc. in October 2018. High Tide Inc. was founded in 2009 and is headquartered in Calgary, Canada.