as of my first analyze of CANN Group, the stock has declined to the target range of AUD2.- to 2.15! This is at the 0.382 Fibonacci of the advance from AUD1.53-2.57 amd clear a „three2 down. So the possibilite is given, that this was all of the correction.
At the other hand, if not, it is maybe the first leg of a „three-down“ correction, which will travel into the range, amrked with the green , lasting from AUD 1.67-1.85.
what`s important to observe at chart, is the massive rice as of May 07th, rising up to 9.518 M shares traded, and is mcu more as ten times above the average of 691.408K. A lot of stocks has changed hand! From weak to strong hands?
Stay tuned for the next days and weeks ahead of this stock.
We will watch it closely and update if any new development appears.