Integrated Cannabis Company (ICNAF)(ICAN) gained another 15% today hitting new monthly highs of $0.89 on the back of a news announcement about the completion of a Letter of Intent to distribute X-SPRAYS™ products throughout the clinics and doctors’ offices of Empower Clinics Inc. (CSE:EPW). Empower Clinics is a leading owner and operator of medical cannabis and wellness clinics in the United States. This is significant news for ICNAF/ICAN as it brings distribution into key markets and product awareness to the 25,000 current Empower patients.
See the full press release issued by the company here:
Integrated Cannabis Company, Inc. (ICAN.CN) (ICNAF) Signs Distribution Agreement with Empower Clinics, Inc.
Today’s trading action also confirms our recent technical analysis. In a recent update on our newest Connect the Dots feature, we discussed 3 key technical indicators that seemed to be pointing towards a bullish trend for ICNAF/ICAN. Let’s recap those key points:
- EMA Trade Line
- Golden Cross
- Trading Volume
According to Investopedia.com, increased trading volume often confirms a new bull market when a short-term moving average like the 50day crosses over and above a long-term moving average like the 200day, also known as a Golden Cross. Well, today, September 20, 2018, ICNAF/ICAN traded 7.5x its average 30day volume leading us to believe a bull market is firmly intact.
ICNAF/ICAN continues to hold the 9 EMA Trade Line support and seems to have just broken out of a bull flag pattern. The 9 EMA Trade Line is a trend indicator and continues to move higher as ICNAF/ICAN pushes to levels not seen since Q4 2017.
With mainstream media jumping on the marijuana stock bandwagon, the momentum in the cannabis market continues to surge. News outlets like CNBC and Bloomberg are now running pot stock specific segments during market hours bringing more and more attention to the sector.
Read Our Full Connect The Dots Report:
Disclaimer: Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 6 months beginning September 4, 2018, and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company.
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