HVT - Harvest oneBuy zone: 0.77-79 (fib 1.618 relations state 0.77)
Target B - will be presented.
Should be at least 0.90
We will then retrace further to wave C
TA/FA:
1. EW 1-5= A = Expanding diagonal = Fib relations
2. Hidden Bullish divergence
3. RSI Oversold
4. Trend line
5. 100 MA
6. COO is buying
7. MACD crossing
8. Histogram is decreasing
9. First GAP is filled (92% of all gaps get filled. Wave C will get 2nd gap filled.
HVT
HVT - Harvest oneBuy zone: 0.77-79 (fib 1.618 relations state 0.77)
Target B - will be presented.
Should be at least 0.90
We will then retrace further to wave C
TA/FA:
1. EW 1-5= A = Expanding diagonal = Fib relations
2. Hidden Bullish divergence
3. RSI Oversold
4. Trend line
5. 100 MA
6. COO is buying
7. MACD crossing
8. Histogram is decreasing
9. First GAP is filled (92% of all gaps get filled. Wave C will get 2nd gap filled.
MMJ breakout imminent MMJ saw capitulation on 28 Aug marking a reversal to the upside and now a bull flag pattern has formed indicating a possible breakout pending volume confirmation as marked on the chart. With approval of PhytoTech sale to HVT expected later this month plus LABS to list on the TSXV also this month; such announcements should attract some attention (and the required volume).
The sector as a whole (globally) appears to be gaining some momentum given the recreational use of marijuana in Canada is officially to be legalised on Oct. 17 (Canadian Legalization).
HVT, Real Marijuana With Good PotentialCompany is in the middle of building a grow op with 12000 kg potential. Bought MMJ Phytotek, an Israeli pharmacuetical venture creating a CBD based seizure medication. We all remember what happened to OWCP. Lots of news catalysts in the future. They just an closed an offering for 40 million, 20 000 000 shares priced at 1.82, so the price is a pretty nice discount. Looks like a nice entry somewhere between the 78% line and the close, depending on the price action. There was a big bid for 100 000 shares in that range yesterday. Don't think they got fully filled yet. I think the drop is done.
