Michaeljob
Long

Potential pennant breakout on $MXC over coming days.

ASX:MXC   MGC PHARMACEUTICALS LTD
Initial move of around 100% has had some time to consolidate and soak away remaining supply which has been thinning considerably since the first move. Recently the green bars have been finding much less supply therefore the possibility of a significant move is increasing. If the topside break occurs then 12.0c would be the target

This medical cannabis company have signed several decent sales/distribution agreements recently and have an upcoming catalyst in the form of a definitive multi $M Australian pharmaceutical distributor
Trade active: 7.7 entry
What is the time frame of the pennant failing? I'm still very green with trending but have found 1 to 8 weeks as a guide
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