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June 19, 2023
A quick look at Friday: after ending Thursday at 41.25 cents, OrganiGram Holdings went up to 44 cents only to drop back, yet still traded well overall and closed at 44 cents Friday.
OrganiGram Holdings Inc. made an initial breakout above its 21 day Simple Moving Average at 43.5514 cents, a potential indicator of a newly emerging bullish phase. On the other hand, note that OrganiGram Holdings could be slowing down soon as it approaches resistance at 45 cents. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems OrganiGram Holdings might continue pointing upwards in the short term.
A look at other health care stocks also showed bullish price action as Bristol-Myers Squibb Company gained 2.3%, as it traded at $66.16. AbbVie added 2.02% to its value, and traded at $138.64.
While OrganiGram Holdings was bullish Friday, the following health care stocks underperformed: Eli Lilly and Company went down to $447.71, losing 1.37% after it closed at $453.93 Friday.
Also worthy of note, United States Building Permits (May) will be released tomorrow at 12:30 UTC.
Trending downwards for around 5 months. The medicinal cannabis specialist reached a significant high of $1.24 around 10 months ago but has lost 66.73% since then.
