Canada officially legalizes weed on 10/17. Marijuana companies have been all the hype, resembling some of the rallies we saw in the crypto space in late 2017. GW Pharmaceuticals, a relatively established European company, has been trading with a more cautious hype. Let me explain.GWPH Daily Chart(click to enlarge)Regression to the Mean:- Note that GWPH has been consolidating throughout 2017, but started to percolate in early 2018. Eventually, price broke above the previous consolidation.- Since the breakout, price has been holding above the 200-day simple moving average (SMA), which is a good sign for the bullish scenario.- In September and October so far, we saw a sharp rally followed by a sharp pullback. Price is now near the breakout levels. - Price is right around the 200-day SMA. Furthermore, the RSI is still holding above 40, which is a sign that the prevailing bullish momentum has been preserved. - These are signs that the market is cautious and already faded the hype. BUT, the overall trend continues to be bullish.