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Organigram Holdings Inc.
(TSXV: OGI)
Note: TSXV: OGI is being used for the chart. This is the same company
Let’s start things off rather simple. After All, sometimes the simplest things in life can be very rewarding and that is what I would like to demonstrate to you today. To make things even easier to understand we will discuss Organigram. We previously covered debentures offered by Organigram in some detail in our March edition here. Before we dive into today’s lesson it is worth noting that since we last talked about Organigram that plenty of news has been released pertaining to them such as the LOI for Strategic Investment in Hyasynth Biologicals Inc., a permit to export medical cannabis to Australia, and unveiling a comprehensive suite of adult recreational cannabis brands. We figured chances are that some (if not all) of these news releases may have caught your attention.
Today we will wrap our heads around a really simple charting tool. Get out your straight edge, we are going to be talking about a horizontal line. Yep, that’s it. A straight line. Drawing a straight line on a chart seems pretty simple, and most charting tools will simply allow you to do this as an overlay. The visual benefit becomes so much clearer when you place the horizontal lines at key areas of support and resistance. However, these lines can also be used for identifying key events. In the chart below you will see a horizontal line drawn at $5.42 CAD which is where the conversion price is for their debentures. Knowing this and aligning this tool with other indicators can help you better decide if purchasing more debentures makes sense for you. See, wasn’t this charting tool straightforward.