MedMen Enterprises Inc. (CSE:MMEN) (OTCQX: MMNFF) stock seems to have entered into a reasonably predictable pattern resembling a wave function. This has been going on since late November 2018. This behaviour is very unlike MedMen’s previous 6 months, from June through December 2018, with building highs and appropriate lows. The current value is similar to its pricing patterns a year ago, CSE:MMEN just to a break from the pattern for a massive surge that ran from August to mid October around $3.70-$8.90.
There was a steady rise from early August until late September with a gain of about $3 (3.70-6.75) but the main heft of this price jump came when MedMen stock price went from $5.50 to $9.00 in just a matter of days mid October. Declining almost equally rapidly, the price was back down to 3.50 after the first few days of December. A new pattern has been emerging sense, basing out around $3.50 with heavy resistance in the $4.50 range.
We will have to sit back, wait and see if this pattern changes and MedMen Enterprises Inc. can break out from this rut and get back above $5.00 level or if the up and down wave pattern continues. Here at Htop Stockwatch we think that the latter is more probable in the next few months. Currently the price is in the low $3.60 range so now could be an opportune time to pick up some shares, watch them closely , and even closer as MMEN approaches resistance.
MedMen is a cannabis retailer with operations across the U.S. and flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission is to provide an unparalleled experience that invites the world to discover the remarkable benefits of cannabis because a world where cannabis is legal and regulated is a safer, healthier and happier world.
SOURCE: MedMen Enterprises
** As always the opinions stated are that just opinions, you make and are responsible for your choices and investments, good luck!