Description
⋅ The marijuana sector on the ASX has been showing some volume returning to the market.
Time to long some stocks.
Purely Technical analysis here..
Fibonacci tool range from the low where volume increased significantly to the high in May.
price has pulled back to the 50% range
314MA seems to be showing some support with a few touches on the 4 hourly.
awaiting buy signal on the 314 MA
Price coincides with previous prices (blue line)
If price breaks the 314MA, 0.5 retracement and the support from previous highs I have a SL @ $3.38
:) Happy Trading!