Buyers ready to come in off the sidelines for the run to new highs

Potential Buy Entry Alert to Watch EOF

Time Frame : Daily/Weekly

Sector : Pharmaceuticals, Biotech and Life Sciences

Key Stats : $354.35 Million Market Cap, VWAP 3.055, ASX Ranking 430, 4 Week Av Turnover $720,483, Current Turnover (Intraday as at time of alert) $137,695.

Company Overview : Ecofibre Limited (EOF) is focused on selectively owning or controlling specific parts of the hemp value chain, in targeted geographies. EOF sells hemp-based products to consumers, wholesalers and manufacturers. EOF owns diverse collections of genetics with over 300 land races of cannabis from over 25 countries.

Broker Consensus : Not covered by a major broker

EOF – Ecofibre Limited

EOF recently reported strong growth and a strong balance sheet which dragged in buyers to the action and brought the company onto the radar of a lot more. We are now watching for the volume to pick up and signs that buyers are going to make a charge for new highs. The volume is low and extended which is a good sign that we may see a pullback to give us the entry setup. Watching for now the opportunity to jump on board.

Stock Code : EOF – Ecofibre Limited

Company Website : www.ecofibre.com

Current Price : 3.04

Status : On watch for potential higher low and push up through 3.20