GW Pharmaceuticals Plc Breaks Out Of 5 Day Trading Range

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

GW Pharmaceuticals

shares are trading sharply higher by $6.61 at $22.22 in Tuesday's session. With no significant news out on the issue, let's examine the technicals for a explanation for the explosive rally. The best in breed in the marijuana sector had been confined to less than a five point trading range over the last five sessions. ($112.09 to $116.81), In today's session after a lower open it found support in the area of Friday's close ($114.11), reaching $114.08 embarking on its move higher. So far, the rally has come up shy of its all time high ($126.78), only reaching $125.30, before falling to the $122 level. It should be noted today's rally is taking place on heavier than average volume. With less than two hours remaining in the session it has traded 644k shares compared with its 20 day average of 346k shares/