OTCPK:GBGPF - Post by User
Post by
StayInCashon Feb 03, 2018 11:39am
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Post# 27496427
Bulls versus Bear
Bulls versus Bear
The discussions here are much more rational than some of the other discussion boards which is nice to see. One member stands out but it's clear he is short selling and doesn't feel comfortable discussion his short position he needs to buy to cover.
Make no mistakes, bears are in control now. But the bulls haven't left. Bulls are mounting a formidable come back, at least in the short term from all technical and fundamental indicators I follow. But I could be wrong. As VenMan states, resistance levels on the 50 and 200 moving day averages are important. Shorter timeframe traders use the 20 EMA, 50MA as key supports to be watched. Then you have contrarian traders who look at oversold RSI and CCI and are the first to jump in often prepared to go lower and average down during full panic.
If the bulls have left for good, we're in big trouble. That means a recession is at our doorstep but I don’t see it. If a recession arrives, one could argue that a lot of people will be out of work and using cannabis to numb the pain and reality. Most cannabis users don't use in the workplace but do it during their free time. The more free time, the more consumption.
Inflation and a resulting recession is frankly my only reservation on this Cannimed name heading into legalization. It's the macro factors around the economy this stock at $650M in market cap is insanely undervalued at this point in time with a $1.7B/year cannimed oil capability.
This is actually a golden opportunity for those who have ignored this sector. And frankly, that’s most of the investment community. Proof in point? Only BMO has entered the space and just as of last month. None of the other banks have felt comfortable with this “new” commodity.