All the doom and gloomBashers making predictions that OGI will become a penny stock like Hexo...or that the share price of OGI will drop bekow $1.50....
Just opinions with NO FACTS to support their opinions. This called noise----turn off the noise....
Here is what is happening now----it's called the four stages of a market for a stock....
First, the stock traded at recent in late July and early August ( accumulation stage---smart money slowly buying stock....)
Next, we witnessed a breakout above the resistance---and beginning of an uptrend...The stock theory refers to this as a mark-up... essentially it's an uptrend, as more buyers---institutions and retailers want to ride the wave.
Next, we witnessed the share price topping our at $2.02 on August 17th...---the distribution phase, where smart money sells, and retailers who know nothing about charts or technical analysis become bag holders...
Finally, the OGI's stock price drops to a bottom ----some ealier support level and then trades in a range----the new accunulation stage...
What you are witnessing now is the accumulation phase of the market for OGI---the stock has bottomed and now trades in a range....support and resistance---sideways.
At some point, before next earnings, you can almost be certain that OGI will rise to $2.02 or higher, unless there is bearish news/catalyst..
Reality check:
OGI traded at $2.02 on August 17----
Reality check---price target for OGI for next 12 months according to Yahhoo Finance---$3.4...
Reality check:
OGI has the following moving averages:
5 day-- $1.68
20 day- $1.75
50 day- $1.98
100 day- $2.14
200 day - $2.49
I strongly suggest that you ignore all the opinons for which there are no facts....They're are just horse shite....
And, I suggest you conduct your own due diligence, learn how to read a chart---uptrend, down trend, range, and the essentials of technical indicators, especially the moving average..
I fully expect OGI to rise from the ashes like a pheonix