Just found a stock ticker today called MRMD (MariMed Inc) for short of Marijuana Medicine.
About MariMed Inc.:
MariMed as per profile in otcmarkets.com is known as an industry leader in the development and operation of cannabis cultivation, production, and dispensary facilities licensed in multiple states nationwide. They also process precision dosed branded products for treating medical illnesses. It's distribution encompasses select states but expanding its licensing and distribution to others states as well including the thousands of dispensaries. https://www.otcmarkets.com/stock/MRMD/profile
50Days High, 200% Volume Surge and VCP (Volatility Contraction Pattern) Breakout Run:
204 days ago around May 12, 2017 this stock broke a 6 months VCP (Nov. 16, 2016 to May 12, 2017) with volume 200% plus than it's ordinary volume. The volatility was $0.12 (High of $0.41 to low of $0.29). It had a huge run from $0.41 New High to $0.80 which was reduced down to $0.19 over a period of almost 6 months (May 26, 2017 to Nov. 17, 2017). During that price decline it formed a VCP (Volatility Contraction Pattern) and broke that VCP to a high of $0.62 around May 20, 2017 and moved with a very small gain to $0.67 with New Volume 200% higher than previous volumes around May 22, 2017. For 2 months or 50 days it had been continuously pushing the resistance level of $0.80 creating again another VCP until it broke out that resistance of $0.80 and reached the new high of $1.27 around Jan. 24, 2018 and subsequently reaching another high of $1.48 at the end of the month Jan. 31, 2018. And now it is cycling back and forth to a new VCP formation of which it will probably reduce again the gain down to between $0.80 and $0.90.
This pattern was practically similar to GTXI
A combination of months of VCP breakout followed with 50days VCP breakout. In the case of GTXI, 9months of VCP B/O then followed with 2 50days VCP B/O to the former high. While MRMD consist of 6months VCP B/O followed with 1 50day VCP B/O to the former high.
NEWS on MRMD
Yesterday, there was actually a news that a new CEO had been appointed. Usually when a new position is filled especially if it is a high position, there will be high volume of shares to be purchased as incentive to the executive. This is usually bought after a dip. The company will probably buy shares at lower price which will drive also the price higher. This stock can probably run to $2.00 or more. A gap-up might even happen.
About MariMed Inc.:
MariMed as per profile in otcmarkets.com is known as an industry leader in the development and operation of cannabis cultivation, production, and dispensary facilities licensed in multiple states nationwide. They also process precision dosed branded products for treating medical illnesses. It's distribution encompasses select states but expanding its licensing and distribution to others states as well including the thousands of dispensaries. https://www.otcmarkets.com/stock/MRMD/profile
50Days High, 200% Volume Surge and VCP (Volatility Contraction Pattern) Breakout Run:
204 days ago around May 12, 2017 this stock broke a 6 months VCP (Nov. 16, 2016 to May 12, 2017) with volume 200% plus than it's ordinary volume. The volatility was $0.12 (High of $0.41 to low of $0.29). It had a huge run from $0.41 New High to $0.80 which was reduced down to $0.19 over a period of almost 6 months (May 26, 2017 to Nov. 17, 2017). During that price decline it formed a VCP (Volatility Contraction Pattern) and broke that VCP to a high of $0.62 around May 20, 2017 and moved with a very small gain to $0.67 with New Volume 200% higher than previous volumes around May 22, 2017. For 2 months or 50 days it had been continuously pushing the resistance level of $0.80 creating again another VCP until it broke out that resistance of $0.80 and reached the new high of $1.27 around Jan. 24, 2018 and subsequently reaching another high of $1.48 at the end of the month Jan. 31, 2018. And now it is cycling back and forth to a new VCP formation of which it will probably reduce again the gain down to between $0.80 and $0.90.
This pattern was practically similar to GTXI
A combination of months of VCP breakout followed with 50days VCP breakout. In the case of GTXI, 9months of VCP B/O then followed with 2 50days VCP B/O to the former high. While MRMD consist of 6months VCP B/O followed with 1 50day VCP B/O to the former high.
MRMD 2year Chart
GTXI 2year Chart
Yesterday, there was actually a news that a new CEO had been appointed. Usually when a new position is filled especially if it is a high position, there will be high volume of shares to be purchased as incentive to the executive. This is usually bought after a dip. The company will probably buy shares at lower price which will drive also the price higher. This stock can probably run to $2.00 or more. A gap-up might even happen.
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