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EXL - Elixinol Wellness

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The Elixinol Group operates (or intends to operate) in the industrial hemp and medicinal cannabis industries via Elixinol US, Elixinol AUS and HFA.

• Elixinol US is an established and profitable company which manufactures and distributes industrial hemp-based nutraceutical, dietary supplement and skincare products in the United States and in forty countries globally.
• HFA manufactures and distributes industrial hemp-derived food and skincare products mainly in Australia.
• Elixinol AUS is a newly formed Australian company, which has not yet commenced operations and was formed to seek the required licences and permits to participate in the emerging Australian medicinal cannabis market.​

Elixinol US, Elixinol AUS and HFA are not currently owned by the Company, but will be acquired, effective on Completion of the Offer.

It is anticipated that EXL will list on the ASX during January 2017.

http://elixinolglobal.com
 
Here's the story so far for Elixinol Global almost six month after listing in January 2018. After briefly reaching a high of $2 within days after listing, EXL reached a low of $1.24 the following month. Since then it has been up and down but in the last couple of days it has been showing signs that it is ready for another leg up.

The catalyst for the recent move north is the announcement on 29 June that the United States Senate has passed the 2018 Farm Bill, which includes the Hemp Farming Act of 2018. The company said that the bill will open significant trade opportunities for Elixinol USA once it moves through House as one single piece of legislation for President to sign.

There appears to be solid resistance at $1.70, so any break above that would be a bullish sign. Adding this one to the watchlist.

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The price of EXL broke through 1.70, then 2.00 and was off.

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Another one that I must have ignored when it appeared in my scans.
 
EXL continued higher to 5.93 before coming off. Price has continued lower and is now at 2.30. Have we hit the bottom yet?
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(i) After a such a strong trend up, price (or should I say buyers) have to run out of positive sentiment (demand) at some stage. We'd anticipate a corrective pullback at some stage and one formed between Apr - Jul19. Price fell back to the prior BO level at 3.50. IMO this is normal price behaviour.
(ii) Price fell after news of the SPP at 3.90 that was restricted to insto's only.
(iii) What's not normal is seeing price falling through the 3.50 support after looking likely to go higher once the SPP was done and dusted. I haven't looked for a reason for this fall through 3.50 support. Management restructuring at that time doesn't seem enough of a reason to me.
(iv) Price continues to fall to 2.10 at the same time as the general market falls OK I'm comfortable with that.
(v) General market rallies (XAO line chart) but EXL doesn't rally with the market. It's still on the nose (weaker than the market). Weaker than the XAO in both the weekly and daily charts (top panes).

Has it bottomed yet. There's a nice sideways base forming with a BO setup at 2.60. I've put this in a reversal watch list to keep an eye on it.
 
peter2 said:
(iii) What's not normal is seeing price falling through the 3.50 support after looking likely to go higher once the SPP was done and dusted. I haven't looked for a reason for this fall through 3.50 support. Management restructuring at that time doesn't seem enough of a reason to me.
Click to expand...

Probably just falling in sympathy with all the other global cannabis stocks if it was/is held by any aspiring cannabis focused funds, indices, etc?
 
peter2 said:
EXL continued higher to 5.93 before coming off. Price has continued lower and is now at 2.30. Have we hit the bottom yet?
View attachment 97449.
Click to expand...

peter2 -- no we have not reached the bottom and EXL is looking sick!!

Yesterday Bell Potter downgraded the stock to “hold (speculative)” from “buy (speculative)” and cut to the stock’s valuation. It lowered its price target to $1.11 from $2.35 per share.

The US drug regulator is not convinced that cannabidiol (CBD) products are safe and this finding has big implications for the once-hot sector.

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So as expected, the recent announcements are now affecting price. Move over Creso, EXL is now in the spotlight with a worldwide footprint. Momentum and price moving along. The announcement.

ASX Announcement
3 December 2020
United Nations reschedules cannabis, expected to favourably impact Elixinol’s global business.

Key Highlights
• United Nations’ Commission on Narcotic Drugs (CND) votes to accept the World Health Organisation’s recommendation to reschedule cannabis

• Vote acknowledges medicinal usefulness of cannabis and clarifies that CBD is not under international drug control

• News is expected to have a substantial, positive impact on Elixinol’s ability to drive product sales in Europe and other countries influenced by UN decision-making

• UN decision another signal towards global regulatory relaxation of CBD legislation

Chart shows there's good room for price rise from this announcement and a covid recovery.

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Opened on a high Friday, got sold down hard as could be expected after such a solid run, then got solidly bought up again all Friday afternoon.
Now pushing to break out to new highs.
Up there with a few other strong sector performers today possibly after US Congress meeting to legalise across entire US.
Charts. Self explanatory really.

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On May 19th, 2021, Elixinol Global Limited changed its name to Elixinol Wellness Limited.
 
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