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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
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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.
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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
