Hemp Inc broke 1HR trend and found support at Touch 1 spike. This is basically .01 Investors like to get in at 127 to 161 extensions.
Bears still own Daily and 4HR.
Once trend is back in the orange channel zone between 0 - 50% on the channel we will be breaking the 4HR trend.
Once we are at the top half of the bullish channel 50 - 100% we will be attempting to break the DAILY bearish down trend and this channel. Once we are OUT of this channel a lot of individuals will be looking for an impulse break and a reversal for 3 quarters of the year before we get into a full buyers market. This seems to show a speculative outlook of .006 cents to .033 accumulation period for the next 2 years.
Anything can happen and we can easily go parabolic from .01 straight to .033 and then quickly return back to .01 in a matter of days. I believe we are on the way to beak the Touch 1 spike making a new lower low before rising. If this doesn't happen then we have enough support at .01 to keep the floor here all the way across the channel for the next few weeks.
I see us finishing an ABCDE pattern into a corrective ABC followed by an hourly 12345 impulsive move once we break out of the channel. This channel is slow and accumulative which is a good thing. Take notice to the strong support at .01 and take notice once we break this channel and ride ABOVE the moving averages.
A solid sign for bulls to come in for a few weeks would be for the hourly red ribbon to be below price. This would mean that the 800 MA on hourly will give us the 4HR support we need to break the daily bearish trend and reverse this baby for the bull market!!!!
Buyers sit at .006 to .01 Sellers sit at .025 - .033 but the most sell strength is at .05 and can hold for at least 3 years below .06 cents
(I would like to see a 4HR inverted head and shoulder develop here from NOW until Oct 2020.
I suggest buyers to buy in every time we break the low by 33% and touch the bottom of the grey channel. This would be your best entry option to buy. As long as price is below the moving averages and red ribbon on daily we are not yet in a bull market.
Once harvest is complete we should see holiday quarterly profits or profits stated after Feb. 2020 this would give us a potential rise come MARCH 2020 and allow farmers to have cashflow for that seasons planting. Hemp, Inc is an organization of many individuals who help support the growth of the hemp industry overall so I am going to calculate this just like I would with any commodity and its supply and demand.
The problem is we have a lot of supply but not enough demand for it. Right now the industry is being built in America so that we can find the demand spots for products and supply.
2 biggest issues with hemp in america is we do not have the farm equipment to do large scale harvesting yet (well at least efficiently that is) and we do not have enough suppliers to sell the product.
As the bottlenecks in the industry shrink the easier it will be to make cashflow and for Hemp, Inc to grow off of.
The next generation of Hemp, Inc. is emerging as a force for progress – connecting advanced processing and manufacturing capabilities with the global marketplace to solve some of the country’s greatest challenges, partnering with companies that offer the highest quality products, and at the same time delivering outstanding results for shareholders and customers alike.