Canadian CANNAINVESTOR Magazine October 2017 - Page 232


Cannabix is a company that is working on a Marijuana Breathalyzer for law enforcement. OK, enough with the company's details and into the chart. In the chart above for Cannabix you will notice I have illustrated a double bottom. This double bottom comes after a downtrend as shown by the downwards arrow. This double bottom helps us define where the support is, which is great in helping us know when we should consider exiting if things turn sour. Now that we have our support level defined we can feel more comfort in taking a position and/or be on the watch out for Cannabix increasing trading volume and the other technical cues we have discussed. One thing I would like to point out here is that the prices were riding beneath the 50 day moving average and now are beginning to ride above it. At the same time the 50 day moving average is also beginning to flatten out. Has this stock got the inner bull within you intrigued? Perhaps it is time to keep this one on your watchlist.

Cannabix Technologies Inc (CSE:BLO)