while many readers ask for.....here it is..
Short term view:
The low on November 19 @ US$ 2.14 was followed by a massive gain for the stock and achieved to 3.25 on November 21! A nearly 50% gain that could be labeled as a „five-up“! The following correction retraced a steep 0.786 Fibonacci of the advance, what is the maximum I`d like to see within a wave „2“ correction. So, at first hand, a solid close below this level (@2.38) will strengthen the odds, that something other is developing for ACB!
As for CGC , so it is for ACB . I`d like to play the card and the structure from the 2.37 low is either a series of „one`s and two`s“ or it is an „a-b-c“ structure and so it is corrective.
To judge one or the other side, I like to see more evidence for both!
As you know, a wave „2“ of any degree is able to retrace a 99,99% of the preceding wave one, less common, but still valid. So the level to watch is first the 2.38 (closing basis) and below the low @ 2.14! Any decline below this level will rescind the forecast and make my stand neutral.
Have a great week
Feel free to ask or comment.
Trading this analyze is at your own risk!
I don't know if you're an idiot, but you write like one. You're out!