We have identified a top quality cannabis stock which will become a multi-bagger in the 6 to 9 few months. Even after it doubled in recent weeks we believe this cannabis stock will go up 6-fold by 2019. It is one of our top cannabis stocks Canada forecast for 2019.
As said in great detail in our Emerald Health Therapeutics Stock Forecast for 2019 (EMH.V) we have identified this cannabis stock as a top notch quality cannabis producer. Not only is this company producing cannabis, but it also works on a cannabis based health products.
We published our forecast last week in which we said that we believe our first bullish price target of $38 is a very realistic Emerald Health Therapeutics stock forecast for 2019. Note that this stock currently trades at $5.20. Yes, we are serious about this, no jokes here! From our recent article:
Depending on new data points in 2019 we will have to evaluate whether another peak will take place, presumably after 2019. If so, then our most bullish target will become $154. Please note this is not a given, at all in fact. It may never materialize. What we are saying is that provided the cannabis market grows faster than expected, because estimates were too conservative, combined with Emerald Health Therapeutics over-delivering on its growth, which, both combined, makes up for a big ‘IF’, we could see the most bullish price target materialize. That might happen in 2020 or beyond.
So then if we published our forecast last week why do we come back to this just one week later?
That’s because price action confirmed our viewpoint this week.
As seen on below up-to-date chart this quality cannabis stock retraced slightly last week after its breakout in the last week of August. This week, however, it came back with a vengeance.
Note that the retracement did not touch the breakout point. Make no mistake, this is ultra-bullish. Also, the heavy volume on Friday with the rally to 6 month highs confirms this.
We monitored the whole cannabis sector closely last week, up to 100 cannabis stocks. Although some cannabis stocks were no the rise, it is just a handful of cannabis stocks that really outperformed the sector this week. Again, another confirmation that Emerald Health Therapeutics qualifies as a quality cannabis stock that will be a multi-bagger in 2019!
Note that cannabis investing comes with big risks. Identifying the really quality cannabis stocks is imperative. This week this risk became painfully visible with this scam communicated by the SEC. This is the sentence that stands out :”The complaint alleges that, in reality, Greenview had no track record and its sole investment of $400,000 was in a cannabis company that had yet to harvest a crop.” Only a minority of cannabis stocks can be purchased, the vast majority is average and some may even be a scam. Lots of research is required before engaging in any cannabis stock investment, and our article is not financial advice just educational in nature.