A streak of poor performance triggered by soaring short selling pressure raises serious concerns about Future Farm Technologies Inc (OTCMKTS: FFRMF) long-term prospects. The stock is languishing close to all-time lows, after shedding more than 80% in market value over the past year.
Future Farm Technologies Price Analysis
Investor and market sentiments appear to have hit all-time lows as the stock has struggled to bounce back. The underperformance comes as a surprise given that the broader cannabis sector has turned bullish following recreational use legalization in Canada and the passing of the 2018 Farm Bill in the US.
With market sentiments at all-time lows, only groundbreaking catalysts will reinvigorate investor sentiments in Future Farm Technologies to trigger a bounce back. One of the developments that could help prop the stock’s markets sentiments and price action activity is the confirmation that the company is poised to launch an aggressive Cannabis growing spree.
Future Farm Technologies is in the final stages as it prepares to propagate its 2019 hemp-for wellness crop in Belfast Maine. The company intends to grow Cherry Wine cultivar in over 100 acres in Hersey Maine.
It awaits to be seen if the cultivation spree will help trigger bounce back as Future Farm Technologies languishes at the $0.13 level in the market. After the recent plunge, the stock will have to retake the $0.14 level to avert further slides in the short term.
Above the $0.14 mark, the stock would be well positioned to take out the $0.19 mark, which happens to be the next resistance level. Below the $0.19 resistance level, Future Farms Technologies remains engulfed in a bearish trend and likely to continue edging lower.
What Does Future Farm Technologies Do?
Future Farm Technologies is a holding company with operations in North America. The company’s core business entails advancing sustainable agriculture through the production of wholesale and retail cannabis products. The company collaborates and acquires licensed cannabis operators to develop leading technologies in cannabis production.
As the share price continues to edge lower, Future Farm Technologies management are working round the clock to commence the 2019 cannabis-growing season. The management is eyeing a harvest of over 120,000 pounds of biomass on growing Cherri Wine cultivar in a 100 acres farmland in Hersey Maine.
Future Farms Technologies intends to process all the harvest into full spectrum hemp oil, CBD distillate and CBD isolate for sale to manufacturers. In addition, the company expects to produce over 2 million hemp seeds in 2019, nearly double 2018 levels.
“We have been focused on caring for the seeds we are about to grow since we harvested them in 2018 because they have outstanding genetics that provide high propagation rates and high CBD content. It’s always exciting for me, as a farmer and a manager, to see that first sprout,” explained Zachary Lapin, General Manager of Future Farm Maine.
The grow season comes on the heels of Future Farm Technologies confirming that Cherry Wine hemp seeds produced as part of 2018 harvest have been feminized. The company now has over 1.2 million hemp seeds for sale that it is selling through its e-commerce platform.
“The revenue generated by these seeds enables us to improve all aspects of our operations in Maine, which we expect to result in a robust yield of CBD oil and distillate on a per acre basis. The lessons learned and revenue realized from the 2018 harvest are creating a trajectory that every successful company hopes for,” comments William Gildea, CEO of Future Farm Technologies.
Future Farm Technologies is struggling to recover from harrowing crash amidst soaring bearish pressure. The fact the underperformance comes on the heels of the broader cannabis sector turning bullish continues to arouse serious concerns.
While the stock boasts of tremendous potential as the company commences cannabis cultivation, it might be wise to wait for further confirmation to see whether the stock will bounce back.
A long term descending trend line continues to cap upside action. However, the stock taking out the $0.19 resistance level should reaffirm suggestions of a potential bounce back. For now, it might be wise to take a back seat and wait for further confirmation as the stock remains vulnerable.
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Disclosure: We have no position in FFRMF and have not been compensated for this article.
Terra Tech Corp (OTCMKTS: TRTC) A Bounce Back Play As Net Loss Narrows And Gross Margins Expand
Terra Tech Corp (OTCMKTS: TRTC) has retraced lower ever since it clocked 2019 highs at the end of the first quarter. The stock has crumbled under soaring bearish pressure. Amidst the steep pullback, the stock is a potential bounce-back play as it is currently trading at the lower end of a tight trading range.
Terra Tech Price Analysis
A plunge to the lower end of the $0.63 to $1 trading range leaves the stock in a precarious position. A plunge lower could elicit further selling pressure while a bounce back could result in the stock making run for this year highs.
In our view, the stock could bounce back on investors reacting to a string of positive developments that affirm the Company’s prospects. For starters, Terra Tech is fresh from launching a legal cannabis delivery services as it continues to pursue growth opportunities in California.
The Company is also fresh from delivering impressive financial results that indicate gross margin expansion as net loss from operations continues to narrow. The sale of Blum Desert is another development poised to strengthen the company’s financial position.
Terra Tech commencing cannabis sales to the adult use market should continue to excite investor’s, ideal for fuelling an upswing in the stock’s price action activity. With the stock appearing to have hit the floor after the recent pullback, a correction higher could be in the offing at the lower end of the trading range.
Namaste Technologies Inc (OTCMKTS: NXTTF) A Bounce Back Play On Robust Revenue
Namaste Technologies Inc (OTCMKTS: NXTTF) has had to contend with wild price swings, as investors reacted to delays in the filling of audited financial results and ousting of Sean Dollinger as the CEO. That could soon change, as the Company has come through and filled results that affirm robust revenue growth.
Namaste Technologies Price Analysis
However, concerns over widening net loss could hurt the stock’s sentiments in the market, at a time when it is in dire need of, groundbreaking catalysts to avert further slides. While the stock has bottomed out, it remains engulfed in a long-term bear trend.
The descending trend line could attract short selling pressure on the filling of negative news that arouse concerns about the Company’s long-term prospects. A spike to the $0.65 level essentially means the stock is at a critical resistance level.
Failure to rally and find support above the resistance level could elicit some form of selling that could see the stock trading sideways. Immediate support on any pullbacks from current highs is seen at the $0.40 mark.
A sell-off followed by a close below the $0.40 mark could result in Namaste Technologies resuming its downtrend, as has been the case for the better part of the past year. Conversely, a rally followed by a close above the $0.66 mark should pave the way for the stock to make a run for the $1.20 mark, seen as the next…
Cannex Capital Holdings Inc. (OTCMKTS: CNXXF) A Long-Term Play Despite Price Slump
A strategic merger with 4Front coming on the heels of Pure Ratios holding acquisition affirms why Cannex Capital Holdings Inc (OTCMKTS: CNXXF) prospects can only get better despite the recent price slump. The transformational events expand the Company’s operations into six U.S states signaling push for market value in the burgeoning cannabis sector.
Cannex Price Analysis
While Cannex has taken a significant hit in the market, it is still up for the year after an excellent start that saw it rally by more than 200%. The stock has since pulled lower in what appears to be a correction phase.
The ongoing pullback has since exposed the stock to a crucial support at the $1 a share level. A breach of the support level would leave the stock susceptible to further drops probably back to the $0.80 mark, a critical technical level.
For the stock to resume its uptrend, it first needs to rise and stabilize above the $1.20 mark, the immediate resistance level. The stock rallying and finding support above the $1.2 mark would open the door for bulls to fuel a rally back to 52-week highs.
Cannex is a diversified company that leases real estate properties and sells supplies to cannabis cultivators. The Company also offers financial services as well as branding and IP services to licensed cannabis operators. It is also focused on premium indoor cultivation extraction and branding of edible…