After the success of many of the stocks included with our first focus on medical marjuana plays back on October 16th, we thought we’d revisit this currently hot market sector. Our report yielded cumulative gains of 885% as we are about to outline in today’s follow-up. With the presidential elections drawing near, the hemp and medical marijuana industries have become more of a focal point than in the past, partly as a result of the question of legalization being at issue in several states. In addition, more and more investors are realizing that the road is indeed headed toward positive future growth for related industries.____
Medical Marijuana, Inc. MJNA
Hemp, Inc. HEMP
Since October 16th, HEMP was as low as .027, and subsequently hit a high of .09. Another big winner that provided us with some sweet gains, in this case, on the order of 233%
Now that the stock is consolidating off of that epic run, we are watching closely for any potential bounce-play opportunities.
GreenGro Technologies, Inc. GRNH
GRNH made its own run following the report on the 16th from .013 to a high of .045. Another whopping gain which equates to 246%, rounding out a trio of absolutely huge gainers afforded us by our first medical marijuana round-up report.
Cannabis Science, Inc. CBIS
We mentioned the plays from the round-up report that had some real success, and while CBIS did not appear in that particular report, we have been watching and talking about it for quite some time. After having observed a low of .0305 in late August, we watched it proceed to bounce around nicely, making higher highs and lows on it’s way up to a key level of resistance at .0573 that it has been testing of late.
We’re really looking at this stock for any opportunities that may present themselves, as it recently broke through both its 20 and 100DMA’s. We’d like to see it hold above those levels.
The RSI is beginning to rise, pointing North toward the powerzone, while the Slow STO and PPO have both crossed, and are diverging. In addition we can see that the blue bars on the histogram have flipped up to the bullish side, so as it would seem, many indicators are suggesting that we keep CBIS on watch.
Even More Med. Marijuana Stocks to Watch: CLMP, ERBB, MWIP
STLK, AZFL, CGRA, EGCT