In the fast-paced Lightning Round segment of Mad Money Wednesday night one caller asked Jim Cramer about GW Pharmaceuticals plc (GWPH) . "This is the only medical cannabis and I continue to like GW Pharma," Cramer replied.
Let's check in with the charts.
In the daily bar chart of GWPH, below, we can see some positive clues and some bullish divergences. The shares have been in a downtrend but are close to breaking February highs, which would break the pattern of lower lows and lower highs. The slope of the 50-day moving average line has turned positive and the 200 day line is bottoming.
The On-Balance-Volume (OBV) line has been quietly bottoming the past three months. The Moving Average Convergence Divergence (MACD) oscillator turned bullish above the zero line last month.