Organigram Holdings was the subject of an Email update today, sent out at about 12.30 pm EDT, when it was priced at C$1.65, which briefly made the case for anyone holding to take profits in it immediately and it was stated that an update would follow with a chart illustrating why it is considered best to sell it here.
As we can see on its 6-month chart below, we bought Organigram at a good entry point, but missed the chance to sell for a big profit at the peak near C$1.80 early in August, but the 2nd rally this month has thrown up another chance to get out at a good price. We waited a little to see if it would break above the August peak, but it was not to be, and now it looks like a Double Top is completing with the August peak, as it has started to back off from the resistance shown again.
Those of you who owned the stock and heeded today’s Email will have got out at a good price, since it was up 65% from where we bought it in April and 57% from where we bought it in June. Those of you who didn’t see the Email alert or who didn’t sell and want to should still be able to get out at a good price in the morning, since it closed only a cent below where the sell note was issued. CONSIDERED PRUDENT FOR ANYONE STILL HOLDING TO TAKE PROFITS IMMEDIATELY.
Organigram Holdings website
Organigram Holdings Inc OGI.V, closed at C$1.64 on 20th September 16.
Posted at 8.45 pm EDT on 20th September 16.