NEPT Moving Higher - Market Analysis for Mar 8th, 2018

NEPT (Canadian Cannabis Oil Stock)-- those of you who entered or are following NEPT since we mentioned it on Monday morning (3/05), when it was trading at 2.44/45. Since then, it has climbed strongly to today's high at 2.97 (+21%), and in so doing, has hurdled its 5 and 20 DMA's, which are beginning to turn up. Let's also notice that the 3/01/18 upside pivot from 2.27 coincided closely with a 62% correction of the entire prior 5 months advance from 0.70 to 3.59, which adds a bit of confidence to my conclusion that NEPT has completed a major correction, and is in the initiation phase of a new upleg.

At this juncture, the next important test will be a confrontation with the resistance line off of the 1/29 high, which cuts across the price axis at 3.10.  MJP