Seems NYSE:ACB aiming to break the 50% fib. Signals are overbought and as we know there's a lot of emotion in the cannabis market and everyone's betting on gains. Seeing overbought is a caution sign, but with millennials being a large driving force with little experience (me included, I've been trading crypto for less than 2 years), things look like they're as risky as can be. We did have a small breakout of my previous resistance levels and entering the next set of resistance. It broke and closed at the mark and hoping this week it continues to climb as all the other major hitters have been this last week. Continuing to monitor news as it relates not only ACB but the market in general. Looking at a channel forming but as mentioned, I'm waiting for a correction to buy more.
Any opinions or links to other ideas are always welcomed.
Disclaimer: I'm a millennial lol
Any opinions or links to other ideas are always welcomed.
Disclaimer: I'm a millennial lol
Trade active:
Channel reached, I failed to pick up some more. Retesting that 50% fib is certain and can potentially shoot higher. Going to wait or read up on some more opinions. You all are really helpful with your ideas. Always appreciate the community on here.
Comment:
Channel breakdown pre earnings report. Report is scheduled for post market but it seems there's some caution which could have just brought the price down altogether. I placed another buy order at about 6.40 down to 6.15. I'm hopeful to hear ACB increased production, what should also be looked for is plans to finally start flipping actual profits. I'm Long on ACB and don't see why it shouldn't hit $9-$12 in the near future.
Trade active:
Current- see some move incoming. "Move" means in either direction.
BB constricting a bit, ADX trend weakening, could cross into a long. I'm not a wizard and I am not an expert. These are my opinions. I am currently holding as with my other cannabis stocks. I'm in it for the long haul and most of you who have faith in legalization and expansion shouldn't bother checking charts every day lol
If you are day trading there's not much movement for great rewards currently.
Aurora had pretty big gains in this quarter and if you're looking at this market as if it's been in the game for several years, you're doing it wrong. Dilution, expansion, and excess expenses (including purchasing other companies) is all for the long haul. Keep an eye in lowering production costs, and continued revenue.
BB constricting a bit, ADX trend weakening, could cross into a long. I'm not a wizard and I am not an expert. These are my opinions. I am currently holding as with my other cannabis stocks. I'm in it for the long haul and most of you who have faith in legalization and expansion shouldn't bother checking charts every day lol
If you are day trading there's not much movement for great rewards currently.
Aurora had pretty big gains in this quarter and if you're looking at this market as if it's been in the game for several years, you're doing it wrong. Dilution, expansion, and excess expenses (including purchasing other companies) is all for the long haul. Keep an eye in lowering production costs, and continued revenue.
Comment:
You can see support levels being tested again as we see price rising to the 8.00 - 8.15 area. Good news and forward thinking on the rise. I'm bullish and hopeful for Aurora.