One month to the legalization of recreational marijuana in Canada remaining! A few pot firms are really well prepared. One of them is MedReleaf Corp. (LEAF.TO).
It is still questionable whether it will really happen in June, because of political disputes and discussions suggesting to postpone the legalization. Nevertheless, sooner or later it will happen and thus, investing in marijuana and investing in right cannabis companies is a key to a future wealth.
A company produces and sells cannabis-based medical products in Canada and internationally too. It has contracts also in Brazil and Germany, which is very interesting because German market has a trend to grow 5 times bigger than Canada. Medreleaf products are dried, oil, capsules and various accessories such as vaporizers.
The profitability results have been outstanding so far and this unlikely to halt since the number of patients keeps rising. Medreleaf has been successfully expanding their production and capacities so the company will one of the few who will be able to meet the future demand.
Medreleaf Corp. has listed on Toronto Stock Exchange a year ago and since that time recorded incredible gains. After reaching a peak in January 2018 like entire marijuana index, it has entered a consolidation phase when the price retested its low and reverted from 200 SMA at around 15. Most importantly the stock has broken its resistance (orange line) in April and crawls gingerly up on the 10 EMA at the moment.
Furthermore, the technical indicators are supporting a current trend very well:
Volume – while price increases, volume does so in an appropriate matter
RSI – look at the purple lines – every time the RSI reached the oversold level, the price followed significant increase. At the moment we are experiencing the very same situation.
MACD – signal line crossed and entered positive territory.
CMF – very strong buying power while stochastics not oversold yet. This will likely last for long.
There’s no better time to go long on Medreleaf than now. The company offers a fabulous opportunity for both long-term and medium-term investors. Important is to stay disciplined and focused on the big picture!