After a huge run up, EMH has consolidated in a very healthy manner on the daily time frame forming a 4 hour equilibrium. Last lower high is 4.54. Entry at 4.55 with a stop below 4.37 or 4.28 more loosely. Measured move is 6.71, but first resistance will be the last daily lower high at 4.97. Even with just 4.97 as a target, R/R is 2/1 for this play. If it starts to play out, can take profit along the way, or move stop up to breakeven.
@shanksmatt, You mean... EMH's news about getting the ontario deal nailed it...
DZ3572
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@weedstocks4, the news was one of the reasons the play was on my radar, but it's not like it started the day super strong considering when the news was out - the technicals showed the play, the news helped break the pattern - one does not have to negate or trump the other.