Hello FITX board
Just curious on any projected pps high/low for coming Monday - Friday
We have traded essentially sideways since February 9th including bouncing off support at least 10 times and test resistance 3 times, In the previous week volume tapered off leaving us slightly above support level on weak buying (Friday). Several MJ companies have recently had some rally but MJ as a sector overall continues to be down.
My comments/questions
Do you feel this is a result of market positioning with MM's hammering sector prices down just prior to a possible April run up or; are there other underlying issues affecting the MJ sector? If so, what are the issues?
My observations
(a) April 1st the Canadian law will change in favor of a controlled mechanism designed to stabilize the market by enacting a series of controls.
(b) A number of companies will become licensed by the Canadian Government
(c) FITX has value added due to it's PHOT JV. Note the stock value X # of shares to be issued.
(d) FITX will soon complete construction and become licensed. What is the value of that licensing in this market segment to a company and it's shareholders?
(e) Numerous legal issues remain to be decided which will probably deter larger investors.
(f) SS could very likely cause sideways trading after the market adjusts volume/pps due to the impact of Law changes April 1st followed by FITX receiving RS from JV if insider shares coming unrestricted enter the float. (This particular issue will become very obvious if volume increases are not reflected by corresponding pps increases) Market/Investor uncertainty?
I do not see a change in trend so close to April 1st considering the significance of law changes and probable licensing. Not sure what to think here because this segment should be reacting strongly towards an uptrend yet sector wide it just is not showing up. This (in my opinion) is due to a combination of MM efforts to control pricing and insiders dumping stock after becoming unrestricted.
So when does the market shift in favor of otc investors and what will be cause for that shift?
Your thoughts?
Just curious on any projected pps high/low for coming Monday - Friday
We have traded essentially sideways since February 9th including bouncing off support at least 10 times and test resistance 3 times, In the previous week volume tapered off leaving us slightly above support level on weak buying (Friday). Several MJ companies have recently had some rally but MJ as a sector overall continues to be down.
My comments/questions
Do you feel this is a result of market positioning with MM's hammering sector prices down just prior to a possible April run up or; are there other underlying issues affecting the MJ sector? If so, what are the issues?
My observations
(a) April 1st the Canadian law will change in favor of a controlled mechanism designed to stabilize the market by enacting a series of controls.
(b) A number of companies will become licensed by the Canadian Government
(c) FITX has value added due to it's PHOT JV. Note the stock value X # of shares to be issued.
(d) FITX will soon complete construction and become licensed. What is the value of that licensing in this market segment to a company and it's shareholders?
(e) Numerous legal issues remain to be decided which will probably deter larger investors.
(f) SS could very likely cause sideways trading after the market adjusts volume/pps due to the impact of Law changes April 1st followed by FITX receiving RS from JV if insider shares coming unrestricted enter the float. (This particular issue will become very obvious if volume increases are not reflected by corresponding pps increases) Market/Investor uncertainty?
I do not see a change in trend so close to April 1st considering the significance of law changes and probable licensing. Not sure what to think here because this segment should be reacting strongly towards an uptrend yet sector wide it just is not showing up. This (in my opinion) is due to a combination of MM efforts to control pricing and insiders dumping stock after becoming unrestricted.
So when does the market shift in favor of otc investors and what will be cause for that shift?
Your thoughts?
