Sellers edge price lower and remain in control so the alert in cancelled

EOF pushes lower and trade below 2.99 so the Buy Entry Alert is now cancelled. We are happy to keep this on the watchlist for now and see if buyers can soak up the pressure and build the buy entry setup.

EOF price is compressing so happy to move the Buy Entry Level down to 3.23 from 3.305 as we still see buyers holding the 3.00 level. The Stop Loss and Cancel level remains at 2.99.

Alert History

Original Buy Entry Alert 17/09/19

New Buy Entry Alert EOF

Time Frame : Daily

Sector : Pharmaceuticals/Healthcare

Key Stats : $360.19 Million Market Cap, VWAP 3.159, ASX Ranking 420, 4 Week Av Turnover $604,878, Current Turnover (Intraday as at time of alert) $297,388.

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 is building as buyers start to step in at higher prices and look primed and ready for a run up to new highs. We are happy to buy on a push up through 3.305 with a Stop Loss at 2.99. If price falls below 2.99 prior to entry, we will cancel the alert and re-assess the action.

Stock Code : EOF – Ecofibre Limited

Company Website : www.ecofibre.com

Current Price : 3.16

New Buy Entry (Trigger Level) : 3.305

Potential Sell Exit Zone (Stop Loss/Cancel Level) : 2.99

Status : On watch for Buy Entry Trigger