marijuana stocks

GW Pharmaceuticals Continues To Rally: A Technical Look

GW Pharmaceuticals Plc (NASDAQ:GWPH) shares were trading higher by $2.20 (2.5 percent) at $97.86 in Monday’s session. The darling of the marijuana sector is following through on Friday’s impressive nearly $11.00 rally ($84.58 to $95.66). It should be noted Friday’s rally took place on extremely high volume for the issue of nearly two million shares vs. its 20-day average of 325,000.

Investors may be anticipating positive results as the company is set to release additional Epidiolex data at the American Academy of Neurology that should inform developments in other orphan epilepsy. Over the past year, the issue has fluctuated primarily based on news concerning the drug and not so much on developments related to marijuana.

See Also: 15 Marijuana Stocks To Watch In 2015

After a bit off profit-taking off the open, it quickly found support just $0.16 from its opening price ($94.23 vs. $94.39) before ripping north once again. At time of writing, it easily surpassed Friday’s high ($95.92), reaching $98.43 before taking a breather.

The all-time high for the issue was made in July 2014, at the pinnacle of the “pot stock” mania at $111.46, before cascading to $58.16 in October.

 


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

The Alkaline Water Company Inc. (WTER) Eco-Friendly Aluminum Bottles to be Carried by National Distributor, KEHE

Alkaline88® Eco-Friendly Aluminum Bottles to be Carried by National Distributor, KEHE with…

$MSRT Schedules Conference Call on February 13, 2017

MassRoots Schedules Conference Call on February 13, 2017 MassRoots, Inc. (MSRT), one of…

$AGTK Will be A Feature Company at Marijuana Business Conference and Expo Nov. 12-14th

Agritek Holdings, Inc. Announces Attendance as Feature Company at Marijuana Business Conference…

CLS Holdings USA, Inc. (CLSH) AI-Driven Solutions Enhancing Revenue & Customer Growth

CLS Holdings AI-Driven Solutions Enhancing Revenue & Customer Growth CLS Holdings USA,…