Revised Target of 12.00

With yesterdays strong pullback, It appears we are in a consolidation range, building up for a push to 12.00 zone.
Revised Target 12.00 (Oct 17 - Nov 1)
Sep 19
Trade closed: target reached: We hit target today, then some. :)

And very shortly after that found a new entry level.
I took my profit, re-entered later in the day on the pullback, but didn't load the boat, just in case we see further pull back to take advantage of this week.
watch for possible pullback at 12-12.12 zone. looks like we might have one more big bounce before End of Sept.
+1 Reply
Will there still be a draw back to 8 after legalization even with the talks and possible news with Coca Cola?
4XRandalll nick.d.bergeron
@nick.d.bergeron, to early to say, but if things look positive, it's possible that the 9.50 previous resistance zone will become the new support.
Still too early for the market to digest this information, right now its just speculation buying. And that as we know, is crazy volatile.

Reduce your downside risk, use a stop loss to lock in some or all your profits at the key levels.
@4XRandalll, Absolutely! Thank you for the support Randal!
I heard many people have the same plan, hold until legalization. Oct 17th maybe too late to get out of MJ stocks. My personal plan is I will not hold any shares a few days before Oct 17th
@Attilaelek, do you think price point will drop to nine after legalization. Im trying to evaluate the same. Sell off at 11-12 buy back in at 9
4XRandalll nick.d.bergeron
@nick.d.bergeron, ACB does like to pull back hard. If you like to use Fib extensions, I would expect it to pull back close to .618 (like this recent pullback, or even deeper, perhaps .500 just like WEED and APH just did this week.
As to when, we may see two pullbacks, one right around the Oct 17th deadline, another Early November.

As always, when trading or investing in volatile stocks, use a stop loss to reduce your downside risk.

Nice analysis. Although, I feel that we would hit that zone sooner because the sell-off will happen the day before the day after the legalization.
All speculation though. I entered a long position that would expire dayssss before the legalization.
+1 Reply
4XRandalll balanar_NS
@balanar_NS, I don't expect sell off until a few days later, sort of the hangover after the party situation.
And at that I expect just a pullback to maybe Fib 618 or perhaps 50%, then a retest of highs before November/Year End profit taking.

Either way, let's work on making a decent profit together, keep sharing our ideas and having a great year.
+2 Reply
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