OWC Pharmaceutical Research Corp (OTCQB:OWCP) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on January 25, skidding 6.35% to close the day at $0.7. Today’s drop came with about 2.06 million shares changing hands, compared to an average of 30-day volume of 3.67 million for OWCP.
The share depreciation gives the company a market capitalization of $101.14 million based upon 135.31 million shares outstanding.
In the past 52 weeks, shares of OWCP have traded as low as $0.003 and as high as $0.95. Technical traders will take note that at 0.7, shares of OWCP are trading above their 50-day moving average (MA) at $0.212 and above their 200-day MA at $0.089. Technical analysts pay close attention to these key moving averages because they often serve as technical supports and move under them is typically regarded as bearish. Conversely, holding above these key moving averages or breaking over them is perceived as a sign of bullishness.
Who is OWCP?
OWC Pharmaceutical Research Corp engaged in the research & development of cannabis-based medical products for the treatment of multiple myeloma, psoriasis and fibromyalgia as well as development of a cannabis soluble tablet delivery system. The company is led by CEO Ori Goore from its headquarters in Petach Tikva, .
For more information on OWCP and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit PotNetwork.com today.
All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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