If you are looking to add some additional stocks to your trading portfolio, choosing a percentage to contribute to these stocks for a long term investment may really pay off.
Top Canadian Pot Stocks: Stock #3 –
OrganiGram Holdings (OGRMF)
OrganiGrams share price increase since 2016 is remarkable. The share price has experienced a growth of almost 600% in less than 4 years. Starting at 0.20, the share price is currently at 6.40. The Canadian cannbabis industry is moving more and more into the focus of investors.
The all-time high is around 6.70 and the market is on the best way to surpass this.
It is striking that the last price increase since December 2018 was extremely rapid. This holds a greater danger of seeing a smaller correction in the near future. In addition, the all-time high is ahead as resistance. This could also support falling prices in the short term.
A closer look at the market from the daily chart reveals the current decline at the all-time high. OrganiGram Holdings is also still in an intact upward trend in the daily chart, but a correction down to 5.00 is possible.
If the price falls below this level, the trend is considered broken. At the same time, the correction also offers opportunities to enter the market at a better price. If it remains the case that the market is merely correcting, then a rapid momentum over the all-time high can be expected.
Traders should also keep an eye on the RSI. Currently there is an overbought area.
OrganiGram Holdings is definitely on the watchlist of investors. Currently, the stock has only one direction and that is long. Last year alone there were price increases of over 100%. Turnover doubled and solid profits were made in the 2018 financial year.
OrganiGram is also convincing in terms of chart technology. A solid upward trend and a favourable entry point should bring investors profits in a short time.