FIBS & Tech & OutlookFor those interested in retracement technicals you can use this website:https://ca.investing.com/tools/fibonacci-calculator. I put in 4.00 (high) 2.19 (low) 2.68 (C) and you get this:
| 38.2% | 3.3086 |
| 50% | 3.095 |
| 61.8% | 2.8814 |
So given how I am as bullish as can be on OGI, I decided to buy today at 3.30 average exactly. If your some-what bullish somewhat-bearish, then 3.09 is your target, but other technicals will ensure that such a drop shouldn't be easy as we have support at 3.25 (which held today) and 3.13. Given consolidation in the high 2.00s and its general market cap, soon to be output, and upcoming revenue report (which I am excited about), I suspect OGI will have a strong support base in the low 3.00s that won't be easy to punch through regardless of the sector downturn. I expect *bullish* consolidation, as we have embarked on a nice uptrend which according to TD technicals has a price target of 5.10 - 5.60, with analyst price targets on average of 4.10 (and the trend these days has been to increase those targets). I have no doubt the 5.00+ targets will be realized by next July the latest (which coincidentally falls in the TD tech. time frame), but I don't want to risk not holding in case of stellar financials with a return to profitability and a potential buy out given how damn cheap they are for having a massive 3-tier indoor facility that's ready to churn profit asap. Sh1t companies like newstrike resources (HIP) almost has the same market cap of OGI, then companies like Aurora and Canopy are 2+ billion. It makes no sense imo. OGI is in this wierd limbo state where all we need is another major catalyst to act as the match for this powder keg.