Good Morning, Trader!
Yesterday’s rebound call was an easy win in a volatile market, so let’s see whether Plandai Biotechnology Inc. (PLPL) also has what it takes?
If you recall from the last time I alerted you to PLPL in early February (circled on the chart below), this stock can ride the weed wave to glory.
Traders who caught that alert clearly saw a 35% end-to-end run, not to mention intraday action galore!
Two months later, the PLPL chart has rewound to the point that this “cannabis biotech” now looks close to an oversold situation:
See how the RSI is right on the edge of 30 points, traditionally the point where technicians start thinking a stock has suffered enough?
And since PLPL is now right on the 200-day trend for the first time since January, it’s time to see whether that line can hold as support.
If the line holds and the “oversold” signals start flashing, PLPL may be more than ready for a little breakout bounce!
Don’t forget, the promise of legal weed and new medicines pushed PLPL all the way to $3.12 just a few months ago! (Read more)
The fact is, this is still a $100 BILLION business and “growing” day by day! (Read more)
Unlike a lot of pot plays, PLPL is still liquid enough for small-time traders to have some fun! Check out that turnover!
No wonder! PLPL is hooking up with incredibly ambitious people with the muscle to build a truly integrated medical weed empire.
This guy was a product manager at Microsoft and wants to be the Bill Gates of marijuana, maybe even capture as much as 40% of the global pot trade. (Read more)
And he picked PLPL to make the super-high-grade extracts that will roll out under his brand! (Read more)
Imagine buying the Microsoft of ANYTHING back when it was still trading at well under $1 a share!
The imperial ambitions are clear. PLPL makes retail herbal extracts full of good stuff: lycopene, citrus , green tea. And yes, cannabis. (Read more)
Their edge boils down to unlocking the “bioavailability” of any molecule to turn a healthy snack into more of a medical product. (Read more)
Cannabis is a molecule that hasn’t really been crunched and claimed by Big Pharma yet for obvious reasons, so PLPL can actually go toe to toe here.
Yes, they want to take what they call “cannabinoid” drugs to the FDA! But it’s how you build a $98 million market cap from zero! (Read more)
So far, so good. PLPL is actually testing its extracts on humans under the watchful eye of the FDA, God and everyone. (Read more)
If the FDA turns up its nose, PLPL is a little special for being shielded from the vagaries of U.S. drug policy -- unlike a lot of pot plays I could mention!
PLPL already has a green light to do what they want in South Africa, where they’ve already built a big pot processing plant. (Read more)
And with a chart this loaded with the stuff that makes traders feel good, the clock is ticking on PLPL to light up the market again.
Traders were giddy over PLPL above $3. Were they just puffing on weed fumes, or is this truly the rebound prospect of the year?
May all your trades be green!
