The cannabis stock sector is in great shape again … since last week. Driven by a monster rally from Canopy Growth Corp, the leading cannabis stock, the whole sector sees a strong inflow of capital now. One of the cannabis stocks we are watching closely is Canadian Emerald Therapeutics, and we believe this will be a multibagger in 2018.
One can try to do a fundamental analysis on a cannabis stock like Emerald Therapeutics but there is not a lot to derive other than great growth prospects. In this particular case there are just 3 things that count:
- How is the cannabis sector doing? It is a cyclical sector, all cannabis stocks tend to rise or fall simultaneously.
- Has the particular cannabis stock sufficient growth opportunities, and has it proven to be able to leverage growth in the past?
- Is the chart showing a breakout?
Coincidentally, the answer to all 3 questions is “yes”!
Emerald Therapeutics is a cannabis stock that we expect to rise strong and fast in the next few weeks and months.
In fact, we believe that Canadian cannabis stock Emerald Therapeutics will double, even triple, still in 2018.
The chart shows a gorgeous breakout. Any dip can be bought, but dips tend not to last long, as can be seen in the November and December rally of last year!