OrganiGram Holdings levels up 6.56% in Friday's session; traders eye opening bell in 10 hours time

Friday at a glance: the medical cannabis provider went up to 52 cents, gaining 6.56%.

Despite posting gains on Friday, OrganiGram Holdings Inc. slid below its 10 day Simple Moving Average at 49.933 cents during the last session — an early indicator that a negative trend could be emerging. OrganiGram Holdings could be slowing down soon; it is getting close to the resistance line and is now at 52.9967 cents, only 1 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates OrganiGram Holdings is set for a reversal in the coming days.

This rally in OrganiGram Holdings's share price coincided with other health care stocks as Bristol-Myers Squibb Company traded at $68.14 after closing Friday's trading day at $66.82 (up 1.98%). Sanofi was up 1.9%. Amgen was up 2%.

Also worthy of note, United States EIA Short-Term Energy Outlook will be released tomorrow at 16:00 UTC.

Pointing downwards for around 3 months. The medicinal cannabis specialist is now trading 42.72% below its 3-month high of $1.33.