These two recommendations are Special Situations. The first, is a medical marijuana company, expected to post growth of more than 59% next year. And the second is a short idea, based on lower earnings.
Buy: GW Pharmaceuticals (GWPH)
From Shortex Market Letter
GW Pharmaceuticals (GWPH)
52wk H. $143.37 52wk L. 92.65
Mkt Cap: $3.84B, EPS: -9.01, Beta: 2.64
GWPH is one of the biggest marijuana companies. Released updated clinical data on the marijuana drug. Causative for recent surge. A beneficiary of expected legalizing of medical cannabis, where GWPH’s Sativex and Epidiolex have won a favorable recommendation from the US FDA.
Correction/retraction completed: (137-132), plunging (127-115) to (115-104). Reversal challenged primary resistance at (115-117) and secondary resistance at (119-122). Gapped-up at (125-132) to challenge upper-head resistance (136-139). Volatile.
BUYING RANGE: 132-138
NR TERM OBJ: 151
INTERMED OBJ: 173
STOP LOSS: 125
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, April 27, 2018