ACB - High Conviction Play; Likely to Break Out High Tight Flag
Well, I have now found what I could be an even better play in cannabis than AYRWF. I think ACB at $6.25 is going to pop. I have bought some $7 call options with September 20th expiration.
ACB broke out from its double bottom with an EP into a cup that just went parabolic and now looks like it’s in a cup and handle using the handle as a horizontal high tight flag. It had another 72% EP in starting at $5.24 to a $9.11 close in September. In most cases, I would wait for a breakout of the upper trend line of this flag, but I am certain where this market is going and this stock is significantly undervalued. This company has a 578.8 million NAV, but their market cap is only 95 million, and they have recently gotten into Australia and Germany, who just legalized adult use. This stock has 52% short float. This is fucking insane.There has been massive volume with all the expected tailwinds. Some of the bigger guys are able to play with this one on the NASDAQ and once cannabis is rescheduling there will be a lot more institutional support. This thing could melt faces off. Look out above.
ACB broke out from its double bottom with an EP into a cup that just went parabolic and now looks like it’s in a cup and handle using the handle as a horizontal high tight flag. It had another 72% EP in starting at $5.24 to a $9.11 close in September. In most cases, I would wait for a breakout of the upper trend line of this flag, but I am certain where this market is going and this stock is significantly undervalued. This company has a 578.8 million NAV, but their market cap is only 95 million, and they have recently gotten into Australia and Germany, who just legalized adult use. This stock has 52% short float. This is fucking insane.There has been massive volume with all the expected tailwinds. Some of the bigger guys are able to play with this one on the NASDAQ and once cannabis is rescheduling there will be a lot more institutional support. This thing could melt faces off. Look out above.