Friday at a glance: the medical cannabis provider has almost recovered all its losses from a previous close of $1.02 after dipping down to 99.69 cents Friday.
OrganiGram Holdings Inc. made an initial break below its 10 day Simple Moving Average at $1, a possible indication of a forthcoming negative trend. OrganiGram Holdings's upper Bollinger Band® is at $1.06 which indicates a further downward move may follow. In contrast, OrganiGram Holdings could begin to recover as it approaches significant support, now 1 cents away from 99.1333 cents. Dipping below could be an indication that further losses are ahead.
In the short term, OrganiGram Holdings is expected to maintain its recent downtrend and continue spiralling lower.
On the other hand, positive performances could be seen by looking at other health care stocks as UnitedHealth was up 1.49%. CVS Health traded at $101.26 after closing Friday's trading day at $100.06 (up 1.2%). Pfizer added 0.74% to its value, and traded at $49.21.
Trending downwards for around 3 months. After hitting an important low of 86.6 cents approximately a month ago, the medicinal cannabis specialist has bounced back 17.78% since.