Looking to trade an upshift in this penny pharma stock. Debt looks good and sales have been improving. Look to buy around the support level .021 and hold to .03. A stop loss at .019 . Risky share, but volatile price movements in a growth sector.
$MXC - MGC PHARMA - At very strong support level.
Has a reputation for a pump and dump type stock, but that might be okay as its at the bottom of the pump area. Rising volume will be your friend here so keep an eye on the OBV. Id like to see RSI cross upwards through 50 to confirm interest. Has some very good market depth on the buy side so cant see it retracing...
Falling Wedge Patten - Bullish breakout building
7.2c major support in line with 200MA(pink) coming into play
News not far away
A break out of the wedge with good volume will support the rally
Looking at past trends, we can see that a major fall in price a few months ago was a result of it breaking a mini support line. It has one now, does this hold or does something happen that can potentially see prices crash?
I'm only very new to this, this probably has no correlation... amy corrections/advice would be appreciated.
MGC Pharmaceuticals Ltd. engages in the production of medical marijuana. Its Endocannabinoid system covers all cells and nerves; it is the messenger of information flowing between immune system and the central nervous system. The company was founded by Nativ Segev on October 21, 2005 and is headquartered in Perth, Australia.
ASX
