Is it time for cannabis stocks to shine again

Potential Buy Entry Alert CAN

 

Time Frame : Daily/Weekly

Sector/Industry Group : Pharmaceuticals Biotechnology and Life Sciences

Key Stats : $304.46 Million Market Cap, VWAP 2.929, ASX Ranking 464, 4 Week Av Turnover $331,775.

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 has established 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

CAN is in a very nice position to make a new run higher. Recent news flow has been positive with buyers happy to support price above 2.60. We now see price action coming to a point where buyers may look to build a higher low for the entry setup. Further news flow may just be the trigger to do it.

 

Stock Code : CAN – Cann Group Limited

Company Website : www.canngrouplimited.com

Current Price : 2.90

Status : On watch for a buy entry setup