The recent correction in North American cannabis stocks has not been for the faint of heart. With the broader markets also selling off it’s made for very turbulent times. It’s during these uncertain times that some of the best opportunities can emerge.
We’ve scanned the markets looking for Cannabis stocks that are currently trading above their 200 day moving average. With most of the cannabis sector trading below their 200 day moving average we feel the 3 stocks listed below show relative strength when compared to their peers. For various reasons these stocks have held up better than the majority. For comparison we’ve also listed 3 big cannabis names that are trading below their 200 day moving average.
Stocks Trading Above Their 200 Day Moving Average
Aleafia Health Inc. (TSXV: ALEF) (OTCQX: ALEAF)
Price: $1.42
Market Cap: $238,545,000
SMA (200): $1.199
RSI: 33.81
Tilray Inc. (NASDAQ: TLRY)
Price: $99.00
Market Cap: $9,223,319,000
EMA (200): $70.37
RSI: 42.43
Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON)
Price: $13.98
Market Cap: $2,498,232,000
SMA (200): $10.40
RSI: 62.56
Stocks Trading Below Their 200 Day Moving Average
Aphria Inc. (TSX: APHA) (NYSE: APHA)
Price: $7.55
Market Cap: $1,885,705,000
SMA (200): $13.23
RSI: 35.22
Canopy Growth Corp. (TSX: WEED) (NYSE: CGC)
Price: $40.35
Market Cap: $13,827,298,000
SMA (200): $42.52
RSI: 39.41
Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB)
Price: $7.05
Market Cap: $7,025,667,000
SMA (200): $9.09
RSI: 39.53
Best of luck to you all and happy trading.
Ryan Troup
Editor in Chief
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Image source: Shutterstock
Charts source: Barchart
Market data source: TMX Money
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