HEXO had taken a huge beating for the last 2 months. It was projected to hit $12 this year, turned out the government messed up so badly that the stock plummeted.
HEXO found support at $6.60 range. Today heard more news about pricing issue that black market cannabis is still much cheaper than retail... (as it should)
I can expect this stock to breakthrough...
Phase 2 of legalisation is coming up in december, will there be another rally ? I don't know, but what I know is that TSX:HEXO is looking good with that bullish divergence.
Very bearish sector and stock. Highly oversold on 4 hour RSI which is usually a safe buy for a quick short term quick gains. Short term oversold traders are looking to get in. Momo short sellers have piled into this name since it's a weak US listed stock and easy target for wild swings both ways. Short sellers will also cover which suggest a short term spike to...
Keep waiting for a clear MACD reversals if you want to buy. HEXO is testing its support and it's almost oversold... Also, for what it's worth, Hexo got downgaded from Outperform to Perform by Oppenheimer, but analysts are always late to call the shots IMO ... Follow what the trends say!
HEXO reversed down from a nested parabolic wedge, larger wedge and large low 2. The follow through selling has been good. The bears will likely get a second leg down before taking profits and before the bulls will look to buy again. This market is still in a bull trend, but wedges often lead to two legs sideways to down, convert the market into a trading range...
Hexo Corp, formerly Hydropothecary Corp, is a Canada-based company that creates and distributes products to serve the Canadian cannabis market. The Company operates with an approximately 300,000 square feet of production capacity. The Company serves the adult-use market under the HEXO brand, while it serves its medical cannabis clients through the Hydropothecary brand. The following are the Company’s products under the Hydropothecary brand: Time of Day product line, which includes dried marijuana buds for morning, midday, after dinner and bedtime; Hydrogen (H2) classical medical marijuana line, which includes Papaya Grove, Green Chai and Kush dried marijuana buds, among others; Decarb ready to consume activated marijuana powder; Elixir cannabis oil sublingual spray, as well as Fleur de Lune intimate cannabis oil.
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HEXO
