New support, possible consolidation then upside potential. Earnings scheduled for May 4, 2021. Since Nov. 2019 EPS has been increasing. With Fed. Reg. being discussed it could open up the opportunity to additional funding outlets for all Cannabis based companies to expand their ventures and increase revenue, allow for better banking abilities and provide...
Now that the vote on legalization has been postponed till after the election, it's hard to find many catalysts to help get the sector out of the doldrums. Much of the bad news has been priced in, but perhaps not enough. It seems bankruptcies are being factored in based on its price action. Let's see...
Here's a short term chart for Horizons Medical MJ. It's been trying to base over the last week, with some continued follow-through, albeit timid. I expect we're winding up to the #More vote scheduled for the week of September 21st. For me, it's a coin toss. The overall trend is clearly bearish, but it's certainly putting up a fight to reverse that.
An attempt to break free from its long-term bearish channel is imminent. Recent support pegged at $6.15, a close below it will signal continued bearishness.
