Top Canadian Pot Stocks: Stock #2 – Origin House
Like many other cannabis companies in Canada, Origin House is a hot candidate.
Origin House went public at the end of 2016 for less than 1.40 and is barely 3
years later already at 6,67. The price has thus almost quintupled.
Origin House is in a stable upward trend. However, the price is suppressed by a current and probably amusing weakness.
The market changed direction shortly before the all-time high of 8.40 and is now recovering from the past rapid price rises.
Daily Chart
If you look at Origin House on the daily chart, the corrective movement becomes clearer. Technically, the upward trend on the smaller time units threatens to break. The MACD is also already pointing down. Short-term traders should first position themselves on the sidelines and wait until the situation becomes technically clearer.
It will be exciting for traders and investors at 6.22. There lies the lower limit of the support zone. If this is undercut, a downward trend has established itself, at least in the short term.
All in all…
All in all, Origin House is an interesting candidate for a long-term investment. The emphasis here is on the long term. Short-term traders will quickly get into trouble here due to weakening prices.
Technically, the zone between 6.20 – 6.40 is extremely important. It currently acts as a support and a high volume is to be expected in the event of a breakthrough or an opposite movement.
There’s my plan and thoughts...check back for more of my top pot stocks for U.S. and Canada in the upcoming weeks!