Hello traders, today we are going to analyse ACB stock. A stock that will rise 50% ! Why ? 1. Inverse head and shoulders : Neckline breached AND came back to test the resistance of the neckline !
2. Good volume when it breached The Neckline, (biggest volume)
3. The index of Marijuana stock is up 48.5 % this year after a correction
4. History repeats : after testing the support of the channel that I draw it ALWAYS tested the 12 dollars
5. Bullish MACD 6. Many alcohol and tobacco companies are starting to invest in marijuana stocks (not in this stock but shows the interest for the marijuana market )
I'm a professional swiss trader that has two funds , redfund and another private fund. I'm here to help people to choose the better stocks with the better value. I have 75% accuracy in my all professional career and in trading view my only fault was on a bitcoin chart so i have 80-95% accuracy on trading view and 100% if we take out my bitcoin prediction. Follow me to learn and to don't miss out my signals !
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Very nice support and formation of the end of a head and shoulders before it will go up, with an inverted hammer !!
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seems to keep consolidating :) let's gooo
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keep consolidating patience, the Nasdaq can influence also this H e S
I think you were right on, with your assessment, but you have to give it more time...
redtrapltr
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@Barkworth, Hi barkwoth I know that i could give it more time, but i dont want to keep investing in stocks that are not doing what my plan was, this decreases the probability of the plan and because I am a professional trader and have two Funds I can not let my investments decrease more than 5 %. This trade was made in my individual account so fortunately my funds are not affected :). Anyways if you are a swing trader, time is very precious and there are other stocks that could offer better value that I've chosen and made a profit since then and did not stuck with a losing position. But if you dont have other stocks to invest and little money, the long term would be a good option.
Barkworth
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@redtrapltr, thank you for your response. I suppose I don't have a lot of money, and indeed I am trading for the longer term. I guess I'm not a swing trader then. Maybe some day in the future. I'll keep following you though. See what else I can learn from you.