Ann: First Key Appointments to Medical Advisory Board, page-69

As posted before, need to be careful re what is observed re TA. I watched the trading carefully Monday and it appears one larger seller. When the chart has an upward trend and it starts consolidating the geometry crosses and it can take one larger player to exit and it causes a TA bump. The volume was very light and the fibbos are all very much intact. I use a similar fibbo to the top of the wick on the day off the high to the last run. Even the whole move is very much ok with fibbo. The trading is not illustrative of a loss of sentiment - the pattern of selling does not indicate this.

Look at ADN - a market darling that has a Scoping study due later this month. The Sp has run and is ranging, meaning that the price bars move horizontally leading to them hitting the upward trend line. If these break - as they can in a nervous macro market, even by one seller, you get a bit of TA pressure. Watch this space for that stock to quickly recover. This just happened - similar to IHL. Worth looking at the chart!. The market sentiment is massively positive for this stock - as is IHL. Unless a real problem with a company these whipsaws generally revert and quite quickly.

I use TA a lot but need to be careful that not too many conclusions are reached from one or two sellers who may be risk averse. The aim of good TA is to understand the dynamics, range geometry/volume and not jump to "whats wrong" - mostly the answer is "nothing". It is why a lot of TA players never get wealthy. It is not a stand alone tool - way more finesse is required IMO.

Re the sector, we are seeing some good OS tick ups - BOT is doing very well here as I suspect that the industry is now gearing form cultivation/commoditisation to IP and distribution. IHL has four clinical trials and piggy backs the significant trials re first rights via AXIM. I think we are seeing the start of the next phase of value add which is strategically very sound as the market sector evolves.

I attended the Cannabis Society conference a few weeks ago which had industry leaders/pollies (IHL/Canvallate's Dr Sud was a key speaker) and I think we are only at the infancy. I do think though that we are moving from cultivation to IP. IHL is in the right space here.