Description
⋅ Cannabis socks got a boost in the past day as the Biden administration seeks a reclassification
of cannabis with the Drug Enforcement Agency ( DEA) This will likely give the entire sector
some momentum. Here on a 60 minute chart, Aurora ACB is seen in a VWAP band breakout,
crossing over the fair vlaue area of the mean VWAP accompanied on the indicators with
confirmatory volume and volatility. On the zero lag MACD, the lines have crossed above the
zero horizontal and above the histogram. I see this as an excellent long entry targeting 4.35
which was the pivot high after the last earnings. This represents a conservative 17-20% upside
with potential upside beyond that price level given the potential impact of the federal news.
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⋅ ACB accelerating up. PArtial of 33% taken for the weekend. In turn added to
call options now for mid- May.
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⋅ Sideways for much of the week and then a surge- taking partial profits here.
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