Hello, I did this analysis because I am losing 50% of my entire portfolio at the moment with ACB, my opinion is that ACB has no future. its graph is very bad. it is very sensitive to financial markets. freaks out over very little things or nothing. Every resistance breaks it no matter what happens. The last time one day before the earnigs reports hit the bearish resistance and fell back. Edge funds knew about this and they put massive short orders just like they did with GME now they break every support or resistance, no matter how good the news is, it always ends up falling. Financially, ACB is the worst company among all in its sector. It has the largest debt of all and each time its net profits are smaller, also the money is spent to acquire more things when the business does not even have a profit. smaller and smaller earnings. growing debt. Financially it is rubbish. I hope people can get out of this company as quickly as they can and don't lose all their money. have a good day
once you close the position in red your money is gone, just hold it till it reach the price you bought it, i mean stocks have a bottom but not a top. But yeah this is the worst company and my worst desicion so far, i thought maybe i could hold it till the earnings and close the position near 10$, plus all cannabis stocks are bearish now.
Barkworth
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@NakuP, an industry wide bounce is coming. Growth stocks have been tanking because if higher interest rates. We just need to see money return to cannabis, electric vehicles and energy. That said, ACB was probably the worst pick out of all of them.
Personally, I have my eyes on APHA earnings on Monday. If they beat, it could be a catalyst for the broader industry.
NakuP
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@Barkworth, your thoughts about the other posts, i hadnt seen the inverse head and shoulders pattern maybe technically its not the best time to sell, ill hold it a little bit more, good luck in APHA though.
glapo
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@Barkworth, been waiting for you to make one of those nice updated charts for acb again.
Barkworth
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@glapo, I'll be making charts again when I know what I am looking at. Still sidelined. Having a small position in APHA, and looking to buy more at $12.50 gap close.
jk_
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I will buy more and more :-) Burn, shortie :-)
Barkworth
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"Failing company". Could be a take over target though... But for pennies on the dollar...
Erictaylor
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Don’t let the emotions take over bro. It’ll come back. Might have to bounce off 550$ just wait till below 6$ to start averaging down. Next run up will be big just give it some time !