Monday, March 16, 2015
VR Tutorial on MetaStock for GW PHARMACEUTICALS
GWPH (GW Pharmaceuticals) is in the limelight regarding its Cannabinoid research. It is a UK company seeking FDA approval. Perhaps Friday's action suggest that approval (or perhaps a takeover) is on the horizon. A Leibovit Positive VR was formed both on March 4 and March 11 - both meeting my criteria of a rising 5/3/3 stochastic. On the weekly chart (shown in the video), a weekly Leibovit Positive VR was posted back on January 5 meeting the same stochastic criteria. With the stock down from 111 to 50 and now moving higher, the odds that it will a post a new high is quite good with potential (based on the theory of a 'swing count' - i.e., the amount it declines is the amount it will exceed its high) to 160. We will know in the 'fullness of time'