can be broken in both directions - it is only a guideline or enlarged operating channel.
The purple will act as weaker resistances or supports along with the moving averages (9,27,99).
Potential outcomes to plan for:
- The 618 line could give some good resistance - look for a rejection and retest of the 618 of a max of 50 cents. With a tight stop loss - mitigate the loss of the bounce and monitor other indicators closely with a limit entry to maximize profits.
- We punch through the 618 and are pulled back down - utilizing the same strategy as above.
- Good news propels investors through the 618 and to the 768 at 12 dollars - look for a bounce off this zone as well and utilize the same strategy once again.
In case of a false break tied with negative indicators/news - look for the 6.70-6.80 range for a re-entry.
Where do you want to enter? Do your expectations meet possibility? Where do you want to exit? Plan before you panic.
Whether a Swing or hold this stock will make you easy money. Do not get greedy!
-still possible to see this come back and punch through to hit 15 this week as well
-legalization is coming very soon and there has been nothing but good news
- this is a strong Hold - Do not have weak hands
- always prepare for the worst - stop loss is set at 9.85
- look for a bounce/ quick profit off of .618 if downward momentum continues