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Keeegs
Sep 3, 2019 7:13 PM

HEXO showing bounce signs 

TILRAY BRANDS INCTSX

Description

YTD Hexo bounces when it closes above the 9MA after the MACD flips.
Confirmed so far by last five breakouts and one failed breakout.

Trade active

Up 10.21% in 24hrs over two sessions.

Trade closed: stop reached

Got out at $6.06 after a couple of fake-outs. Spinning top on the hourly is made up of a bunch of hammers swinging the price in both directions, was hopeful instead of technical.

If I listened to my chart I would have gotten out at $6.17-$6.18.

Still a good scrape of 9.01%
Comments
ABG1968
sorry to say but the trend is still bearish for hexo. ( see Aligator)
Keeegs
@ABG1968, absolutely agree bearish overall. I am looking at a run in the next 48hrs from approx $5.50 to $6.50. Scrape 15-18% and skedaddle.
You don't at all see a dead cat bounce off that double bottom?
ABG1968
@Keeegs, good point. That can happen. I don't dee it though.
Keeegs
@ABG1968, 24 hrs later up 10.21% which is all I look for in a good scalp but stay tuned tomorrow to see if I squeeze another 6-7% out of it. If it makes it to resistance at $6.50 it certainly won't make it through without a catalyst. I am happy to exit in the $6.40's at a tidy 18% in 48 hrs...
ABG1968
@Keeegs, I have 6000 shares on it ( I disclose it) I am watching this with personal interest , at 6.40 I will be out as well
ABG1968
@Keeegs, just be careful serious resistance at 6.16
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