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OGI - may rally over $3.00

OrganiGram Holdings Inc is a Canada based company that is engaged in producing medical marijuana. OrganiGram stands out for its projected productivity of 200 grams per square foot. That marijuana grower is widely considered an industry leader in productivity. OGI completed a large Five Wave up fractal and topped at 8.44 in May 2019. Off that low it played an impressively strong decline that has already retraced 76.4% of the rally that took almost fours years. The Five Wave up fractal started off the low made at 0.16 in May 2015.

OGI - Daily chart updated on 1-13-2020

I can count decline off the top made in May 2019 as a corrective A-B-C down structure. So far $OGI found support at a strong confluence of: – 76.4% retracement of the strong rally that started in sep 2015 an dtopped in May 2019; and – 223.6% ext of Wave A down. 223.6% ext very often nails bottom of the final wave C in corrective A-B-C down structure. However, the micro structure of that C down leaves a door opened to one more lower low. But even in the case when OGI needs the final push lower in subwave ( c ) of wave ( v ) of C first it has to produce a rally in subwave c of ( b ) up that may target 3.05 – 3.30

OGI - Daily chart updated on 1-13-2020

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