Chart Analysis on CAN
Time Frame : Daily/Weekly
Sector : Pharmaceuticals. Biotech and Life Sciences/Healthcare
Key Stats : $212.68 Million Market Cap, VWAP 1.98, ASX Ranking 537, 4 Week Av Turnover $198,882, Current Turnover (Intraday as at time of alert) 164,332.
Company Overview : Cann Group Limited (CAN) is the first Australian company focused on breeding, cultivating and manufacturing medicinal cannabisfor sale and use within Australia. The company hasestablished research and cultivation facilities in Melbourne and is strivingto provide access to medicinal cannabis for Australian patients. Cann Group has executed collaboration agreements that willenable it to establish a leading position in plant genetics, breeding, extraction, analysis and production techniques requiredto facilitate the supply of medicinal cannabis for a range of diseases and medical conditions.
Broker Consensus : NONE
CAN – Cann Group Limited
CAN looks ready to cave in as sellers take control. There is potential a lot of fuel in the way of buyers (Bag Holders) that may give up and take the loss if price pushes through 1.92. We see buying through the best part of 2018 as the fuel that could send price falling to 1.50 or even 1.00 depending on if new buyers are willing to jump into the action and support the share price. We will see how this plays out and if there is committed buyers willing to sit through some pain.
Stock Code : CAN – Cann Group Limited
Company Website : www.canngrouplimited.com
Current Price : 1.97
Status : On watch for potential weakness
