Last time we looked at GW Pharmaceuticals $GWPH, we noted that it was in a pending bearish breakout that could potentially send price down to the $97-$100 area. GW Pharmaceuticals (GWPH) in a Pending Bearish BreakoutThe bearish outlook materialized very quickly and price is rounding out the year around $95 barring a major move on 1/31 (Monday).GWPH Daily Chart(click to enlarge)Sharp Dip to Support:- The daily chart and the weekly chart below shows price falling sharply to a common support just under $100 a share. - The RSI in both the daily and weekly chart are at oversold levels.- I think from the $95 area, there is upside towards at least $110, a previous support and where the 200-week simple moving average (SMA) resides. - It is too early to call a bullish reversal, but we can anticipate some short-term support and a shift to a more sideways mode of consolidation. - In this short-term bullish/ medium-term sideways scenario, the upside should be limited to $130 support/resistance area. GWPH Weekly Chart(click to enlarge)