Weed sector is still bullish in my opinion. $VFF could be on major cannabis compagnie.
But this trade is base on a technical approach.
Frist, if we can close above 2020 ATH, it could be a bullish signal for the 2021 year.
This could happen this week.
Bullish scenarios (2) :
1- I am looking to buy the stock after a break out of my pink channel plus retest of the blue zone.
or
2 - Fake out at the bottom of my blue zone then a break out of my pink zone
Bearish scenarios :
If price fail to regain up side momentum, I see resistance at my red zone, before considering any other upside move.
However, if my bullish scenario occurs, I see ATH ( aprox. 24,3$) to be the frist level that could stop the up side move.
Moreover, if this happen we will be above the high of 2020. This could led to more up side move for 2021.
But this trade is base on a technical approach.
Frist, if we can close above 2020 ATH, it could be a bullish signal for the 2021 year.
This could happen this week.
Bullish scenarios (2) :
1- I am looking to buy the stock after a break out of my pink channel plus retest of the blue zone.
or
2 - Fake out at the bottom of my blue zone then a break out of my pink zone
Bearish scenarios :
If price fail to regain up side momentum, I see resistance at my red zone, before considering any other upside move.
However, if my bullish scenario occurs, I see ATH ( aprox. 24,3$) to be the frist level that could stop the up side move.
Moreover, if this happen we will be above the high of 2020. This could led to more up side move for 2021.