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Analysis: #NASDAQ $GWPH

Case 56 #GWPharmatceuticals PLC ADR

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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#GWPH 1/6
Since peaking at 196.00 (May 2019) GW has turned bearish it should continue to move lower, breaking supports. The long term is neutral to mildly bullish.

GWPH 2/6
Chart 1
Weekly Chart: Price is underpinned by the #SMA20 and #trendline resistance. Price has closed below the trendline support since March 2016. #Pivot supports at 81.63 and 67.68 should temporarily halt the decline but ....

GWPH 3/6
.... beneath those levels an unfilled gap 69.50-40.20 exists.Strong support is seen at 46.30 (Fib and synthetic TL) and 24.70.

GWPH 4/6
Chart 2
Daily Chart: The main moving averages are now indicative of #resistance to the upside. An unfilled gap 134.40-119.90 exists and we expect this to be filled in the future for the downside to resume its course.

GWPH 5/6
Chart 3
Weekly Chart: The #Strategy is printed on the image.

GWPH 6/6
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