270
Well there is no denying that CannTrust has come out of the gate relatively strong compared to some of it’s peers. This is a very exciting stock indeed. From a fundamental perspective I hear that it is still undervalued at its current levels. From a technical perspective I see lots of excitement here right now too. If you look at the chart here for CannTrust you will notice a flagpole and flag. What is a flagpole and flag? Maybe I am dating myself, but remember as a kid playing the first super mario bros. Think of the flagpole as the target you jump on to see how high you get. Whereas the flag is the target you hit and then watch and wait for the next level of action to occur.
OK, maybe you have no clue as to what I am referring to in the analogy above. That is fine, you won’t be alone. Let me break it down for you. The flagpole is a series of time where the prices are on a surge (a high if you will) and essentially go straight up like a pole. The flag occurs at the top of the pole. The flag can be thought of as a consolidation period whereas the prices have just soared and there needs to be a time period for things to catch a breath and cool off; such as the RSI before another bull run is attempted. This one is rather interesting as it looks like we have a flagpole on top of another flagpole. If looking for an entry consider getting in once the top of the flag begins to break out of the flag’s price levels.
CannTrust Holdings Inc. (CSE: TRST)