Canadian CANNAINVESTOR Magazine August / September 2017 - Page 168

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Lexaria Bioscience Corp (CSE:LXX)

Lexaria is a stock that is on the Canadian Securities Exchange and for whatever reason you can’t find their stock charts on stockcharts.com but luckily, they have an OTC ticker which we can use. Lexaria broke more new patent news over it’s science as it pertains to edibles this week and the stock has so far reacted quite well to it. After trading in a clear “falling wedge” pattern which is common of stocks that go on huge tears like LXX did (it went from 10 cents to 50 and above in quite a short time), the stock has since broken out of the downtrend and has recaptured the 20 and 50 day moving averages. With an up-trending RSI and a MACD that is turning positive I would become very interested in this stock if it were to take out it’s 200 day moving average.