GW Pharmaceuticals

The Chart of the Day is GWPH…GW Pharmaceuticals.  It was up over +$46 or 120% yesterday, closing at $84.71.  This is a company that does research on Medicinal Marijuana and it announced positive Phase 3 trials for one of its drugs that is used to treat a form of epilepsy.  I don’t know too much about it, but I do know that a lot of times when biotech stocks have huge moves up like this, within a few days they fall like bricks.  So keep an eye on it for a possible short over the next few days.  $80 was yesterday’s low trade and has been an important level historically…a possible trading strategy would be to short it if it breaks that level.