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GW Pharmaceuticals is going to £10 a share says King of Charts

GW Pharmaceuticals Plc (LON:GWP) has a great looking chart, according to technical analyst Zak Mir, who reckons the cannabis-based medicine company could soon be priced as high as £10 a share.

Mir, in a Tips TV segment for Proactive Investors, says this target could be reached “pretty quickly” – probably the next month or two – but noted there likely to be opportunities for traders to buy in a better prices too.

So, the question for traders is how to time an ‘entry’.

“I’d never really pay more than the 10-day average (823p) … ideally, you’re looking for dips to the 50-day line which is way below, 629p,” Mir says.

He added: “It is overdue a bit of a pullback towards the £7 to £8 area.”

 
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