I'd like to offer some insight to the OWCP shareholders from a very active trader who solely trades OTC stocks in the cannabis sector. I have read most every message on this board in the last couple weeks to try to learn something or give me some insight into something I don't already know. That's why I'm posting today, because none of you have posted about what I see.
First off, I'm very bullish on OWCP because I know the power of CBD and this company has a very promising product that is most likely going to be approved for selling very soon, seems like a no-brainer to me assuming the company is in good hands and nothing shady is going on.
Okay, so... there's over 200 stocks in the cannabis sector, all OTC stocks. I have filtered through all of them, adding to my own list about half of them which are actually traded daily. I also have a list of those 100 or so stocks that I see patterns and predictability in, or that just have potential whether technical or fundamental, these stocks I closely follow. Out of my 100 stocks, let's call it the Cannabis 100, MANY have spiked up high, tanked to very low levels, and spiked up again, and then tanked to even lower levels. This is exactly where OWCP is now, at those low low low levels. So far, the stocks that have come down and that I have sold off, have mostly bounced off a low support level or have come up from 6-month lows. I have only seen 2 stocks go down and not come back up, but those stocks don't have anything going for them and have VERY VERY low volume per day, almost 0 volume, maybe are traded 5 times per day. So this means that as of right now, in my opinion OWCP has about a 95-99% chance of coming back up off a very low price, and not even from news, it will come back up naturally simply with volume.
Starting in June, I have seen patterns get broken by prices dropping below low support levels because of low volume. I think summer time is low volume because people sell their stock and go on vacation, or whatever the reason. But low volume has killed some of the prices in my list. Right now, OWCP is not the only good company with a super discounted price. Look at ETST, NTFU, CVSI, MSRT, RMHB, CBIS, SGMD, ZDPY, FUTL.... these stocks are making new lows and have had nothing but good news recently. ETST just had great news yesterday and the price didn't even budge from it's brand new 6-month low. FUTL a couple days ago also had good news of a new partnership and only spiked up 40% and back down to all time low next day. Doesn't make sense? Sound familiar?
Okay, here's getting to the good part. NUMBERS! These are some numbers that I believe are relevant, since you can compare to OWCP. The stocks that have gone up high and back down very low and bounced are :
CNBX - H 7.60 L 0.67 H 1.30-1.67 Now 1.25 - Down 92% then up 94-149% before dropping again
BUDZ - H 5.05 L 0.35 H 1.99 Now 1.02 - Down 93% then up 468%
AXIM - H 19.80 L 6.25 H 13.46 Now 8.20 - Down 68% then up 115%
VBIO - H 4.24 L 1.31 H 2.75 Now 1.69 - Down 69% then up 110%
AMMJ - H 2.10 L 0.35 H 0.70 Now 0.64 - Down 83% then up 100%
CLSH - H 1.83 L 0.03 H 0.49 Now 0.38 - Down 98% then up 1900%
PRRE - H 2.15 L 0.45 H 1.32 Now 1.22 - Down 79% then up 193%
MCOA - H 0.20 L 0.02 H 0.05 Now .032 - Down 90% then up 151%
MYHI - H 0.90 L 0.083 H 0.22 Now 0.11 - Down 91% then up 165%
PURA - H 0.094 L .016 H 0.034 Now .025 - Down 83% then up 120%
VPOR - H .0068 L .0019 H .004 Now .0027 - Down 72% then up 111%
OWCP - H 3.23 L 0.55 H 1.37 Now 0.36 - Down 83% then up 149%
If you compare these percentages, yes OWCP is the most unusual given the difference between the comeback high of 1.37 and the now price. It's way lower than any of the others listed, down over 72% from that recent high where the second worst is MYHI and BUDZ with a near tie of only 50% down from recent high. At .305, OWCP's recent low, was down 77% from recent bounce. At .305, that's about 90% down from 1 year high of 3.23, and so far every stock such as these examples that has come down 90% have gone back up at least 150% from that point. Since OWCP is so obviously oversold, I think a 150% gain from .305 is a for sure thing as a minimum gain, assuming there is no bad news that comes out that instantly turns all us bulls into bears.
With that said, the smart thing to do is what I've been doing since .60, average down by buying more shares. This will put more money at risk but give you a much higher chance of profit in a much shorter period of time. The lower the price goes from this low .30's, the higher and more aggressive it's going to bounce up. We should see 200%+ gains VERY soon without any news at all. It is my opinion that seasonal volume alone will trigger a rally if a rally is not already triggered by then. We are still in summer and volume is still painfully low on most of these OTC stocks. Good news is not needed to make money on this stock, the technicals, odds and statistics alone are enough to get this back up to the .50's and higher with only time being the factor.
As I finish this post, the price is still positive for the day at .36. it's highly unlikely it's going to make a new low under .305, but if it does, don't fear, instead be excited and buy more, because you are going to make more money if you do.
x100xPercent
