Also, notice that $86-91 formed a ridge from April 1 to April 10. We broke that "ceiling". It COULD be retested as a "floor" of support.
Gaps - In a bullish market, look for gaps to correct as much as 30 percent off their peak high, meaning GWPH would be a SCREAMING buy at $88. And FWIW, the gap up STARTED around $65, with a big spike at $90...All gaps get filled??? $88??? Hmmm...its reasonable...
This was 103 briefly last week, thought most would have covered at least at 105. There is a gap still around 98 I believe.....not sure if this gap thing means a #$%$ or not....? What are your feelings on gaps?
It's possible but I doubt it. If it does retest $100 I think it will bounce right off that rock solid floor. My opinion is that triple digits are here to stay.
Sentiment: Strong Buy
I agree with you Donnie, looks like I'm becoming a SHORT long :)
$90 is probably not too far away TBH, hope you get straight so you can buy in big time when the time is right ;)
Fish - we shall see. I'm becoming a LONG short!!! lol...longer than i wanted anyway...stupid gambler...
Doobie - Inevitable drops is what I'm counting on. When you compare the 200 dma (83) and the 50 dma (99), it isn't far fetched to see a drop back to 103, or even $90, over the next few months as we await the news in December. That's important. We all know that GWPH isn't going bankrupt. Heck, I would be surprised right now if it retested $75. But $90??? It's certainly possible. $100 is one of those magic numbers that people either (A) want to buy at or (B) place stop losses.
If $100 or $101 triggers a stop loss to an intraday of $90, believe me, donniebigs has some pie-in-the-sky orders in, follow me?
Good luck to all. I support the technology and the company. I'm just trying to make a swing bet.
Peace, love and 420...
The way that this market is acting, you may get your wish. Everybody is jumpy right now. Swing trading may be the best bet for a while. I am just concerned about a big downside correction that could leave me holding shares in the wrong direction.
Didn't you recover most of your losses on the last dip?
Donnie!! told you GWPH could be a short killer, its trciky for sure. But if you look at the 5 year chart its easy to see where GWPH is headed despite minor inevitable drops.
The fact is no shorts have made as big a percentage gain as the longs. The future is very bright for GWPH, welcome aboard (in advance)
Baked in, lol...fish, good stuff.
What I'm seeing is a ton of consolidation. I'm a big believer in ceilings and floors, and the former ceiling of $111 from July 2014 is rapidly becoming a new floor. We peaked there in 2014, retraced, came back, broke through the $111 CEILING, hit $126 and now $111 is a pretty nice floor of support. $109-113...mmm hmmm...this thing is certainly poised to spike...That said, I still maintain that the 50 dma at $99 and the current price of $111 make for a consolidation opportunity around $105...Believe me, if that hit - I would be happy to cover...the stress just ain't worth it.
But they are not, they are just pulling in investors. It looks to me like a scam and I can see it crashing and burning within two years.
Look at the 13G filing issued this morning. In select biotech and other funds.
Item 1: Reporting Person - FMR LLC
Item 2: (a) [ ]
(b) [ ]
Item 4: Delaware
Item 5: 151,980
Item 6: 0
Item 7: 25,669,428
Item 8: 0
Item 9: 25,669,428
Item 11: 10.000%
Item 12: HC
Much, MUCH more!!!! It isn't a "done deal" and the numbers aren't "baked in". There is the schedule 1 issue. Placebo trials are not finished. CBDV trials are just starting . . . Don't listen to Cramer. Learn how to trade or invest. Take classes. Learn fundamentals and technical analysis. Invest in what you know. Don't let losses run. Let your winners run, but just keep your core investment and trade additional shares. What do you think this stock will sell for if their diabetes drug hits the world market? Brain cancer? . . . They keep adding diseases to their pipeline. If doctors can prescribe these medicines and insurance pays for them, this stock will be too expensive for anyone other than institutional investors, unless GW does a lot of splits.
And if you use google street view, GWP have their main facilities in a government facility, whereas the other one seems to be based in a somewhat uninspiring office.
I am also not really convinced by the proprietary software they appear to be pushing , the implication being that new drugs will be just a few years a way, which is a bit of a stretch in my opinion taking into account the years of testing data and regulatory approval needed.
Started the week with a real gem, been green since the opening bell a d just keeps seeing heavy activity.