Hexo gained 12.91% Wednesday, closing at $6.56.
Here's a technical look at the stock chart.
Hexo Daily Chart Analysis
The stock is nearing the end of what technical traders call a falling wedge pattern.
The stock is trading below the 50-day moving average (green) and above the 200-day moving average (blue), indicating the stock is most likely facing a period of consolidation.
The 50-day moving average may hold as a place of resistance on the chart and the 200-day moving average is a potential area of support.
Key Hexo Levels To Watch
The stock has been falling in recent months, forming what technical traders call a falling wedge pattern.