|GW Pharmaceuticals is a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW Pharmaceuticals commercialized the world's first plant-derived cannabinoid prescription drug, Sativex, which is approved for the treatment of spasticity due to multiple sclerosis in 26 countries outside the United States. The company has a deep pipeline of additional cannabinoid product candidates, including Epidiolex in the treatment of childhood epilepsy.|
|Figure 1. Daily Chart With Elliott Wave Count. The share price could be completing a Wave 4 of a major WAVE III.|
|Graphic provided by: AdvancedGET.|
|The chart in Figure 1 is a daily chart showing how the price of the GW Pharmaceuticals (GWPH) has risen from $8.41 in July 2013 to a high of $111.55 by June 30, 2014. The chart shows an Elliott Wave count suggesting that the share price could be completing a Wave 4 of a major WAVE III. The relative strength index (RSI) has given a buy signal by breaking above the 30 horizontal line. The share price has not given a JM Internal Band buy signal. A JM Internal Band is a 15-period simple moving average offset by 2% positive and 2% negative. A move above the upper band suggests a buy signal. Conservative investors could wait for a move above the upper JM Internal Band before buying.|
|Figure 2. Daily Chart Showing Vote Line Buy Signal. Could a retest of the high of $111.55 be in the cards?|
|Graphic provided by: Omnitrader.|
|The chart in Figure 2 is an Omnitrader chart that shows the Vote line suggesting a buy signal based on the RSI 12-period strategy shown in green below the Vote line. Do note that the indTDIJak indicator has not given a buy. This indicator is usually slower than the RSI and can be used by more conservative investors. Note also how previous buy signals given by the Vote line have been successful. |
GWPH has corrected since July, but it seems to have formed a bottom and a move up to retest the high of $111.55 could be in the cards.
|Address:||3256 West 24th Ave|
|Phone # for sales:||6042634214|
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