I’ll answer as to support and resistance... the levels I’ve stated have happened 3 times in last 12 months, but if u look at December 1st of last year you will see it got hammered down to .08 then shot up to 15 and bounced around, went back to 12 support then shot to 21, pulled back and by January went on an epic run to .505.
That’s possible because Mcig has no toxic debt and also because this is an event driven equity. Meaning market catalysts can move this so long as they are aligned with the company business models that are impacted by it. Example November elections and ballot measure for rec Cannabis in Nevada. This was an event because medical facilities were unprepared for a yes vote and needed companies like Mcig/scalable to help them scale up. This was prolonged because of contracts and work they were doing having a positive reflection in Q’s. Next catalyst was Nevada going Rec July 1 2017 and u can see this jump with every co imbedded in Nevada.
There were some mini events related to CBD that hurt some CO’s but because we were able to demonstrate Mcig’s international positioning in advance of this they became a means of Mcig cannibalizing other US based companies shareholders.
Keep in mind at one point MCIG was the most heavily Mj traded stock on the OTC. They almost tested .505 again but made a major error with the way they released a Q that had great numbers but was so poorly written it looked like creative accounting and pps dropped from .49 to .27 bounced and eventually retraced. By March 7th it saw .33.... then they started to deviate from the business that got them there and from what the market was investing in which was building cultivation facilities and began to focus on tech... and I have no issue saying that I hate the tech, I hate Mj apps and 420 jobs because if u took cultivation building/royalties/consulting/construction away and were left with the tech This wouldn’t be worth much, plus the margins on that stuff is junk. My whole post(s) were that Mcig needs to focus on what got them there to being the most heavily traded Mj company on the otc and nothing else because it is a winning formula. The days of 2014 runs to .97 are much different now because before there were maybe 50 PotStock’s and now there is over 250 plus a Canadian market that is much safer than any US investment. Like I said I’m long via restricted position and want to see this do better than where it currently is, but pointing out supports and resistance isn’t bashing its a means to create a healthier stock because if people are locked up much higher they aren’t liquid enough to take advantage of dips, which is why this thing has reset historically off of those levels breaking. So that’s my unique insight for what it’s worth.
