Last week we wrote about the cannabis stock sector, especially about one of the strongest cannabis stocks out there: Emerald Health Therapeutics (EMH.V). We focused on the strong upward potential in 2018: Canadian Cannabis Stock Emerald Therapeutics Will Be A Multibagger In 2018. With the evolution in recent days we tend to believe that a rapid rise in this cannabis stock is unfolding right here right now: Emerald Health Therapeutics may double in the next 2 monhts!
[Update on September 2nd 2018: We just published our bullish Emerald Health Therapeutics Stock Forecast for 2019]
This is what we wrote last week:
Emerald Health 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 Health 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!
Right after we wrote our article the company published this announcement: Emerald Health Therapeutics Announces Amendment to Pure Sunfarms’ Cultivation License, Substantially Expanding Cannabis Production Area to Approximately 420,000 Square Feet.
In plain simple terms, the capacity of their cannabis production property will increase, and they are set to become one of the top 5 largest cannabis production facilities in the world.
Moreover, the pace of expansion is faster than initially planned.
How does this translate to the chart? Very simple, when we tipped this stock last week at $4.30 it rose very fast, and came down two days ago. After 2 corrective days the stock is up sharply again today.
We said ‘buy the dip’, and it appeared to be a unique opportunity to get in. All largest cannabis stocks, especially in Canada, confirmed their breakout today, concurrently. That’s why we believe this sector is heading much higher, and the outperformers like Emerald Health Therapeutics are likely to double in the next 2 months.