OTC Sector Trading Focus List: Green Cures & Botanical Distribution, Hemp, Inc … – Wall Street Journal

LONDON, May 30, 2014 /PRNewswire/ —

The medical marijuana space has been back in focus over the last month with many of the high flying stocks from the last few months trading heavy volume and pushing resistance levels. The focus is on that group as we look at five stocks that could have the potential to break out of their current range based on recent news and trading patterns.

Green Cures & Botanical Distribution (OTC: GRCU) closed higher by 9.5% ahead of the market open today after releasing news of a new product launch in trading on Thursday. Green Cures announced the launch of its CDB derived product which is pure hemp oil available in capsule form. If shares can continue this run in trading today then the next level of resistance would be in the low $0.03 range, around 20% move higher than the opening price today.

Hemp Inc (OTC: HEMP) closed slightly lower after being higher earlier in the trading day following its latest presentation at the Cannabis Capital Summit which was announced in news by the company yesterday. Shares in Hemp have been stuck in a downtrend and recently snapped to the upside after currently trading 20% higher than the low the stock hit back on May 20(th) .

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Cannabis Science (OTC: CBIS) was another stock in the green in yesterday’s session closing higher by 4% on the day. This company has been a trader’s favorite for some time having also been at a much higher level in the past. For the short term anyway traders will be looking to the $0.14 level as a potential move to resistance which would be a healthy move from current levels.

Medical Marijuana, Inc (OTC: MJNA) fresh from showcasing its latest products at World Congress close higher by 2% with the close coming very close to the high of the day which is normally a positive for the next day’s trading. With a 52 week high of almost $0.50 and a closing price of $0.19 there is plenty of trading room in this name. Not trading right around the 52 week low can also be viewed as a positive.

To close out our ‘Sector Focus’ today shares in Green Gro Technologies (OTC: GRNH) were off by 6% following a positive day in the green where the company recovered well from its recent low. With GreenGro now in the $0.20 range and a recent resistance level of $0.38 again there seems to be room in this chart for the trade to go higher. The 52 week high on the stock is $1.20 set at the start of the year.

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