GWPH - Technical Analysis
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Dear Traders,
GWPH, also known as GGW Pharmaceuticals plc (GWPH), has been following its bullish Channel pretty well. Thos I don't really know if im Bullish or Berish for now. We have good volume, we are in a bullish channel, but we are under the 1H 55 ema (Blue line). If resistance at the 55 ema holds, we will see a bit more retracing, but if we succeed in buying that resistance, i'll be 100% bullish.
About GWPH :
GW Pharmaceuticals plc researches and develops cannabinoid prescription medicines for the treatment of cancer pain, Multiple Sclerosis, and neuropathic pain.
Latest News:
finance.yahoo.com/news/gw-pharmaceuticals-plc-announces-pricing-000443999.html
GWPH, also known as GGW Pharmaceuticals plc (GWPH), has been following its bullish Channel pretty well. Thos I don't really know if im Bullish or Berish for now. We have good volume, we are in a bullish channel, but we are under the 1H 55 ema (Blue line). If resistance at the 55 ema holds, we will see a bit more retracing, but if we succeed in buying that resistance, i'll be 100% bullish.
About GWPH :
GW Pharmaceuticals plc researches and develops cannabinoid prescription medicines for the treatment of cancer pain, Multiple Sclerosis, and neuropathic pain.
Latest News:
finance.yahoo.com/news/gw-pharmaceuticals-plc-announces-pricing-000443999.html
Nota
Looks like my green dotted support line didn't hold this time, no worries I didn't expect it too. The red line is the one that catches my attention now! Pull back to 162$ incoming? Or will that 0.618 fib line hold creating a new support area?Nota
In my previous comment, I said that it might retrace to 162$ and it did, now let's see if that support line holds.Nota
Support lien didn't hold and neither did the 0.50 fib level, which did create a little bounce off once it touched it, but the bears are in control now. It is trying to get back to the 0.50 fib level but the signal is just to weak so it will probably fail.Nota
We can see a higher Green Vol Bar, which might push GWPH 's price back to the 0.5fib level, but will it break through the resistance point? we shall see. if it does, it would be a nice entry point.Nota
GHPW didn't hold and bears took control.Nota
As we can see, the bears were stopped at the 100 EMA, and on the 1hr chart, the RSI is oversold, Might this be a good entry point ? I'm still waiting for more confirmation.
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