Buyers showing strength and rallying price setting for a run to new highs

Potential Buy Entry Alert CAN

 

Time Frame : Daily/Weekly

Sector : Pharmaceuticals/Healthcare

Key Stats : $297.12 Million Market Cap, VWAP 2.732, ASX Ranking 451, 4 Week Av Turnover $302,427.

Company Overview : Cann Group Limited (CAN) is the first Australian company focused on breeding, cultivating and manufacturing medicinal cannabis for sale and use within Australia. The company hasestablished research and cultivation facilities in Melbourne and is striving to provide access to medicinal cannabis for Australian patients. Cann Group has executed collaboration agreements that will enable it to establish a leading position in plant genetics, breeding, extraction, analysis and production techniques required to facilitate the supply of medicinal cannabis for a range of diseases and medical conditions.

Broker Consensus : NONE

 

CAN – Cann Group Limited

If you are looking for exposure to medical cannabis, CAN is showing good signs of rejecting lows as buyers rally price. We are now watching for the buyers to push price higher out of current contraction in a show of strength. If we see a push up through 3.00, then focus will be on the entry setup for a push to new highs.

 

Stock Code : CAN – Cann Group Limited

Company Website : www.canngrouplimited.com

Current Price : 2.78

Status : On watch for buy entry setup