Two Rivers Water and Farming Company: Is this cannabis stock a buy? Two Rivers Water & Farming Company (OTCQB: TURV) acquires, manages and develops the infrastructure of various agricultural industries, including land and water rights.
The company creates a positive social impact on communities through centering on sustainable economic development of infrastructure for land and water delivery in their rural community and investing in agriculture and infrastructure assets. Two Rivers land holdings stretch over 3 counties and include over 6,000 acres, including 1158 irrigated farmland. But is this cannabis stock a buy?
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On paper Two Rivers Farming Company has an interesting business model – especially given the focus on water rights and irrigation services. We know that these will become great issues in the years to come. While we have not done our DD on the fundamentals, this company does seem promising. But what are the technicals for TURV showing us?
Related: Top 5 Cannabis Stocks for 2021
In the chart below, we see substantial support for TURV below 12 cents a share — only traded below there during peak covid market stress. Buyers picked it up strongly in 2021 when it was at 6 cents a share.
Also, seeing deep pullback from 55 cents a share to current prices of 16 cents a share. Overall, this chart shows consistent volume for a few years and now increasing volume – which is a good sign for continued market interest in TURV.
Technical traders will likely have stops below 4 cents for TURV. We are currently seeing strong resistance in the 50 cents area. A strong good close above 50 cents is needed to open the door to much higher prices. The TURV investor relations page has some very interesting articles on the potential of water rights, farming and privatized irrigation and TURV is the #1 player for all of this. For the team at Cannin.com, this is our first time seeing a play on water rights and privatization of irrigation services. TURV is worth tracking for longer term play.
Cannabis stock investors should not ignore Two Rivers Water and Farming company. This smaller player is up and coming and seem like great investment for both shorter-term and loner-term gains.
Two Rivers Water and Farming Company: Is this Cannabis Stock a Buy?
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