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Hi Everyone & Welcome New Subscribers,
As we head into the long weekend, it became clear this afternoon that there would be a lot of momentum coming into the cannabis sector, after Attorney General Eric Holder announced that the DOJ would let Colorado and Washington do as they please regarding the regulation of medical and recreational use of the drug. Watch the video and read the entire article from The Huffington Post, HERE.
There are quite a few stocks in the sector that closed up on this news, and will be well worth watching into tomorrow, especially when volume elsewhere should be light with the upcoming holiday Monday (and markets closed).
We’re going to list them in order of our personal favorites from top to bottom for tomorrow with a tiny excerpt for each.
MJNA – Biggest volume we have seen since it’s move to .50c. The stock always seems to gain the most attention and volume when any news related to the marijuana sector is released, and has made plenty of multi-day moves in the past. The stock has battled at nasty top near .25c, but it’s very possible to see that range tested again tomorrow. If it can break through .25c, it could see a nice rally higher.
PHOT – Coming off of a double bottom on it’s daily chart, which could amplify it’s move on this news, and potentially make it good for a 10-20% swing tomorrow. Resistance at .045 and .0469.
HEMP – Closed up big (over 97% today) and moved a lot easier this time. It also closed over resistance near .025c, which it had battled in the past, and looks like it has a solid chance at a 10-20% swing as well tomorrow if this momentum continues.
EAPH – Closed at today’s high and judging by today’s volume, it appears that shares are being held tightly. If the stock can close over .008c tomorrow it could retest recent highs of .012 and potentially break higher next week.
Have a great three day weekend everyone!
PS: We may have something for you as early as Monday, which could be quite the momentum trade Tuesday to start the short week off right. We will be sure to update our e-mail subscribers this weekend.
The Penny Stock Experts Team at Todayspickis.com
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