InvestingScope

Organigram: Strong long term buy opportunity.

Long
TSX:OGI   ORGANIGRAM HOLDINGS INC
Despite Organigram Holdings Inc continuous 5 month sell-off, the stock has reached a point where there are 3 strong technical factors supporting the idea that a strong bounce may emerge.

1. The price hit the 4.15 1M Support which is holding since December 2018.

2. The price has almost made contact with the 1W MA200.

3. The RSI on the 1W chart is past 30.00, a point it last traded during October 2015 when it had an aggressive rise of +600%.

Now we are not suggesting that another +600% rise will emerge (that would bring the stock at $30) but we are at a point when adding OGI to your portfolio would be beneficial over the long term. We are looking towards a 11.30 target.




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