GWPH: a short ideas

GWPH is a cannabis based drugs maker. Similar to BEAT, GWPH has also gained about 20% in 2020. The main difference is that the closest resistance level is at $135, which is still far ahead.

[ATTACH=CONFIG]49650[/ATTACH]

GWPH is a leading stock in terms of price gains and at the bottom in terms of large investors accumulation.

[ATTACH=CONFIG]49651[/ATTACH]

The volume histogram shows that the float turns in about 75 days and that the stock sits on a large support base. A good short would probably be a break below the NB (Neutral boundary) simply because that would force many investors to get out in order to avoid further losses.

However, Earnings are set for February 24 and buying puts could be interesting. The only problem here is that puts are rather expensive due to past volatility.

[ATTACH=CONFIG]49652[/ATTACH]