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Which cannabis should I own now Biden is the president? part 2

Long
NASDAQ:VFF   VILLAGE FARMS INTERNATIONAL INC
Technical overview:
VFF all time high was 17.45$ in March 21 2019.
After COVID-19 our highest high is today’s 10.82$.
Before we start analyzing the wave we are seeing in VFF we must mention a valuable fact ! the resistance level from March 2018 was just broken !! that is big ! it was broken by an igniting bar with a lot of volume and momentum behind it meaning investors belief in the mentioned stock is back and its high !now lets start analyzing the prediction:
If we look at the FIB levels from the Highest high drop of march 2019 we can understand that VFF stock is on the 50% FIB line at the moment – that is very important, which makes me think about correction coming ,ill explain :
So we are looking at an impulse wave in its 3rd stage (tends to be the strongest stage), and once the third stage will end we will go into a minor correction in the fourth stage –the end of the current stage can take us all the way to 13.5$ - 14$ and the correction is expected to be about 618 FIB level which will bring VFF stock to the 10.00$ line once again and prove that number to be a strong support level – remember psychological numbers are very important in the world of stocks. Meaning when the stock starts correcting most investors will put a limit order on the 10$ line to re-buy the stock at that value – which matches our 50% FIB line showing there is big demand for the stock to be at that price level.
ALWAYS REMEMBER support levels are created as demand rises every time an asset reaches that level and the market thinks the asset is valued more -that’s why they are support level -if you use volume indicators you will usually find high volume around support areas.
Back to VFF -so we are looking at a stock that on its 3rd stage expected to reach 13.5$ at least and we still have the 5th stage to go through – in my eyes from technical only this stock is expected to reach the 17$ mark before end of current year and that is without the bill passing, if the bill passes then this is well beyond its 20$ mark.
Lets talk Fundamental :

So the house was suppose to vote on a legalization bill in sept but because of covid it was postponed to after the elections, and the vote is scheduled for mid-December -if that bill passes then you should check your cannabis stock portfolio – we are looking at prices of the cannabis craze a year and half ago. Worth mentioning that in the beginning of Nov we had voters from Arizona, New Jersey, Montana approve ballot measures to legalize recreational marijuana, while south Dakota approved both recreational and pharmaceutical so legalization is here in my opinion it’s a matter of time till its marijuana being illegal days are behind us.
I should mention other countries are following this as well, Israel for example is working on passing a legalization bill as we speak and there are many other countries coming next.
VFF is a Canada based agricultural producer and except many vegetables they also grow a lot of cannabis.
VFF acquired Pure Sunfarm Corp and owns 100% of its cannabis producing shares, which should not be taken lightly as they exist for over 25 years and sell various products from vapes, CBD oil , seeds and over 15 different kinds of marijuana species. Village farms has 9 million square miles of farms delivering produce under exclusive contract with these farmers. Their business model is financing part of the expenses to farmers in order to get them started with the initial capital needed, truly a great vision.

VFF at the moment is the most valuable marijuana stock on the NASDAQ with a TTM P/S ratio of 2.9!
To sum up :
Although a lot think the bill will not be approved this December and may take more time till it does we are still sitting on a cash cow here – with VFF current growth rate and cheap stock price that in my eyes expected to cross 20$

Compare to other cannabis stocks:
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Comments

Hi,

Any idea how this will play out? Will it follow your pattern?
Reply
FDGT_academy WolfeeDan
@WolfeeDan, as I wrote there will be a small correction, after it it will cross 13
Reply
FDGT_academy FDGT_academy
@FDGT_academy, you are welcome to text me on WhatsApp I’ll explain the target price we want to sell at
Reply
🙏
Reply
Nice detailed explanation, good job. You've got a follower!
Reply
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