Looks like ACB is consolidating hard before it goes up for a price jump. All of the top Canadian top pot stocks have risen past their previous high(heheh see what i did there?) with the exception of APH and ACB .
With regards to ACB , it has already broken through the first downward resistance line. If we close above 10 CAD this week, we would be reaching our previous high or go even higher than that. A stronger indicator would be closing above 11.5CAD. That would be the most secure time to enter the trade. This would be the most conservative approach of entry.
EMAs indicate a momentum.
I stalk these charts day and night. I am Balanar, the night stalker!
I had a buy order at 7.5 CAD and it was bought! I am so glad!
I see a bullish flag forming for this particular stock. It's preparing to catapult past its all-time-high. With the FOMO news about ACB being listed in another trading platform on Sept 19th, we might see a price increase. We have been up more than 50% though.... but we are waaay below compared to our fellow pot stocks. It almost feels like it's being manipulated so when the whales roll their capital from the other big pot stocks, ACB will be cheap enough for a buy in for a bigger revenue.
As mentioned before, we need a bullish candle above the higher descending blue line in order to be confident with entering the trade.
I stalk these charts day and night... I am Balanar!!
After that, I would buy 2 contracts for puts that would expire in 30 days... which should give me enough time to see the stock breathe before we attempt to go higher again before tax season..