Shares of Green Organic Dutchman Holdings Ltd (OTCMKTS: TGODF) are powering higher after a minor correction from 2019 highs. A build up in the upward momentum could as well signal a bounce back on improved market sentiments.
TGODF Catalysts and Price Analysis
A bounce back in share price follows the confirmation that the Company has secured approval for the opening of a second legal cannabis retail store in Jamaica. The Company’s extraction processing services provider has also received organic certification, setting the stage for The Green Organic Dutchman Holdings to start delivering high-quality cannabis organic oils.
The Green Organic Dutchman Holdings has also secured a Health Canada license for the sale of cannabis oils, marking an important milestone in the race to diversify the current product line. The license approval comes on the heels of the Company commencing distribution of certified organic cannabis to medical patients in March.
A string of positive news helped catapult the stock to highs of $4 a share in March. While the stock did pull lower, in what appeared to be as a result of investors taking profits, the uptrend remains intact.
The Green Organic Dutchman Holdings has bounced off the $3 support level, waiting to see if the upward momentum has what it takes to fuel a rally back to this year highs. A rally followed by a close above the $4 a share resistance level, should see the stock turning bullish, with vast prospects of making a run for 52-weeks highs.
Conversely, failure to hold above the $3 support level could result in the stock plunging to where it started the year at the $2 level.
What Does The Green Organic Dutchman Holdings Do?
The Green Organic Dutchman Holdings casts itself as a cannabinoid-based research and development company. The Company produces organic cannabis products including organic dried cannabis, cannabis oils as well as edibles and seeds for medical applications.
Jamaica Expansion Drive
The Green Organic Dutchman Holdings is a potential bounce-back play as a string of positive development continue to strengthen the stock’s market sentiments. For starters, the Company is in the process of expanding its footprint in Jamaica following the approval of a second retail store.
The new store is located at the Montego Bay, a popular tourist destination, where the Company remains well positioned to generate significant amount of sales. In partnership with its Jamaican partner Epican Medicinal, The Green Organic Dutchman Holdings intends to open additional herb houses in the island, to service the strong demand for cannabis products.
“Our Kingston location witnessed increasing sales volumes; setting the stage for the grand opening of an Epic a Herb House in Jamaica’s largest tourist hub. It is an important milestone toward further expansion for Epican and TGOD in Jamaica,” commented Brian Athaide CEO of TGOD.
Organic Certification Milestones
The Green Organic Dutchman Holdings has also received a significant boost on its bid to develop and make available a wide array of cannabis products. Its extraction processing services provider Valens GroWorks Corp has secured an organic certification.
With the certification, the extraction service provider will now be able to supply The Green Organic Dutchman Holdings with the much-needed cannabis extracts for developing high-quality organic oils.
In addition, the Company’s European acquisition HemPoland has also secured organic certification from Authorities in Poland. The approval opens the door for The Green Organic Dutchman Holdings to enhance extraction and formulation of high-quality hemp oils from certified organic raw materials.
“We are incredibly excited that Hem Poland’s facilities, production, and processes have received organic certification within Europe. This is a major point of differentiation that offers consumers a premium experience. We are proud to continue to deliver and execute on our global organic strategy,” added Mr. Athaide.
What Next For the Green Organic Dutchman Holdings
The current share price does not accurately reflect The Green Dutchman Holdings potential. A pullback from this year highs might as well have presented a fundamental investment opportunity for investors who missed on the initial spike.
Expansion into new markets, as well as the unveiling of new cannabis products, position the Company to generate significant revenues thus shareholder value going forward. That said the stock is a fundamental pullback play after the recent correction.
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Disclosure: We have no position in TGODF 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…