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Hello fellow investors / traders,
Per my email last night, Enertopia Corp (ENRT) is on watch today, and according to basic technical analysis, ENRT could have 138% upside.
ENRT closed at $0.16 yesterday, and its 50 day moving average is $0.38. That's 138% potential upside.
Of course there are other indicators, like the RSI of 37, which indicates oversold conditions.
... And the strong multi-day support at $0.15 - just below the current price. This makes ENRT an excellent risk vs reward trade, with only $0.01 or so downside risk, and plenty of upside.
... The medical marijuana sector which is picking up steam again.
And LXRP, which over the past few days has gained over 100%.
Except, ENRT is more advanced (and better positioned) in the sector.
So if investors like LXRP, they should love ENRT even more.
ENRT has pulled back 85% from its recent March highs, without so much as a decent bounce.
With the sector starting to show signs of life, and a technical bounce well overdue, ENRT could bring some serious heat over the next few days.
ENRT should be on your radar tomorrow and followed very closely.
If you want more than just technical analysis on ENRT, keep reading below...
ENRT is a US Reporting, SEC filing, OTCQB listed company that is also listed on
the Canadian National Stock Exchange.
Recently the Canadian Government is launched a $1.3-billion free market
in medical marijuana that will eventually provide an expected 450,000 Canadians
with quality weed.
Health Canada has phased out an older system that mostly relied on small-scale,
homegrown medical marijuana of varying quality, often diverted illegally to the
black market.
And ENRT is taking
advantage of this enormous, groundbreaking shift.
You see, the new cannabis free market in Canada will replace small growers with
large-scale indoor farms.
Small independent operators will have their hands tied and forced to comply
with strict new legislative requirements, and only the larger entities (like ENRT), operating the most
trusted and secure systems, will have the ability and resources to survive.
Advantage ENRT.
As a publicly listed company, ENRT has the ability and resources to grow and
thrive.
ENRT's President and CEO, Robert McAllister, recently issued a press release
about the new rules, new market and profound opportunities for the Company.
Here are some important extracts from the press release...
"Using the Health Canada numbers for current and projected patients the
sector is expected to
see 50% plus growth per year over the next 10 years in the
number of patients for the Canadian domestic market only. Approved Health
Canada producers under the new Medical for Marihuana Regulations Purposes
(MMRP) will also be allowed to export to other countries in the World.
Health Canada estimates that the selling price will be $7.60 Canadian per gram
in 2014. This would put the Canadian
domestic Medical Marihuana industry at over $100 million in sales in 2014,
rising to over $1.3 Billion in sales by 2024."...
"Enertopia has been able to structure a low cost entry point into an
operation that is currently operating at a capacity of 900 plants and isplaced in the top 10% in Canada.
The private company will be focused
to grow and produce a high quality Medical product. The upfront
capital infusion will allow current facilities to be upgraded and expanded to
increase plant capacity and output as new patients are signed up."
I highly recommend you read the above (very important and informative) press release in full.
Final thoughts - ENRT could give us solid gains over the next few days.
And be careful of any large gap ups. We don't expect any dramatic gaps at the open, but if there is, use your careful judgement.
ShiznitStocks.com
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