7 Canadian Lp's 20%+ drop in volume Technical420 - October 27, 2017
Canadian cannabis stocks have come off their October highs and we are monitoring this pullback as trading volume has weakened significantly.
Trading volume is an important technical indicator an investor uses for trend analysis. Trading volume can help an investor identify momentum in a stock and confirm a trend. If trading volume increases, prices generally move in the same direction.
The recent decline in trading volume is something we are watching cautiously. We remain bullish on the Canadian cannabis sector but will monitor how this trend continues and the impact it has on the sector.
7 LPs that have Seen At Least a 20% Drop in Volume
We have highlighted seven companies that have seen a significant change in volume over the last week. When analyzing these seven stocks, we compared the average trading volume over the last week with the average trading volume over the last month and found the results to be very interesting.
- Aurora Cannabis (ACB.TO) has seen a significant drop in volume during the last week, with its daily average 52% lower than that in the last month. Aurora’s weekly average is below its quarterly average and we are keeping an eye on how this trend continues.
- When compared to its daily average over the last month, Emblem’s (EMC.V) daily average over the last week is 22% lower. The shares have traded higher during this time and we are keeping an eye on how this trend continues.
- Organigram Holdings (OGI.V) has seen a significant drop in volume during the last week, with its daily average 60% lower than that in the last month. Organigram’s weekly average is below its quarterly average and we are keeping an eye on how this trend continues.
- Aphria (APH.TO) has seen a significant drop in volume during the last week, with its daily average 23% lower than that in the last month. Aphria’s weekly average is below its quarterly average and we are keeping an eye on how this trend continues.
- CanniMed Therapeutics (CMED.TO) has seen a significant drop in volume during the last week, with its daily average 47% lower than that in the last month. CanniMed’s weekly average is below its quarterly average and we are keeping an eye on how this trend continues.
- Supreme Pharmaceuticals (FIRE.V) has seen a significant drop in volume during the last week, with its daily average 31% lower than that in the last month. Supreme’s weekly average is below its quarterly average and we are keeping an eye on how this trend continues.
- When compared to its daily average over the last month, Invictus MD Strategies (IMH.V) daily average over the last week is 49% lower. The shares traded slightly lower during this time and we are keeping an eye on how this trend continues.