MedX Holdings Inc (OTCMKTS:MEDH) is a recent pivot into the cannabis space and may deserve a close look given its strong outlook and the promising context offered by the cannabis space as momentum drives new capital toward this growth theme.
We took a look at this stock about a month ago, noting that it appeared to be coming out of a very bullish technical setup that was built of a number of elements, including:
- Bullish MACD divergence,
- Fresh basing pattern,
- Break and bullish retest of the downward trend line defining its prior directional move,
- Break above the 50-day MA, and
- Supportive test of that MA.
That worked out well, with the stock running as much as 250% higher following that setup. Now, it appears potentially poised for follow-on momentum. A move above the key $0.40 level could be key.
We took a look at this stock about a month ago, noting that it appeared to be coming out of a very bullish technical setup that was built of a number of elements, including:
- Bullish MACD divergence,
- Fresh basing pattern,
- Break and bullish retest of the downward trend line defining its prior directional move,
- Break above the 50-day MA, and
- Supportive test of that MA.
That worked out well, with the stock running as much as 250% higher following that setup. Now, it appears potentially poised for follow-on momentum. A move above the key $0.40 level could be key.