Recent head-and-shoulders pattern.. Short-term support and resistance in white, if we see an upward break the expected long position indicates upwards to a return of 20%+ and loss of 10%+ depending on limits and stop losses set. Red lines are showing a descending triangle. Bullish based on improving fundamentals and the risk-to-return reward for future growth and revenue. Short-term dependant on these technical breaks, marijuana industry, and global market conditions.
Comment:
Support broke from above average volume, along with the global sell off. Anticipate ACB falling to $5.80 (at the end of the descending triangle in red).. then we can expect a decent bounce. Of course this depends on the status of global markets, if good we can bounce sooner, if bad it will be a dead cat bounce or none at all
Comment:
ACB broke out of the descending triangle, congrats longs
Comment:
PLAYED OUT PERFECTLY
12/16/2018 - 04/18/2019
12/16/2018 - 04/18/2019