MRobertsTrading

Long Term Buy on HITI

Long
NASDAQ:HITI   High Tide Inc
As many of you already know, I've been bullish on HITI for quite some time, waiting for the right entry. This is one of my favorite cannabis stocks, and I'm bullish the cannabis sector overall. This may not be a quick play; I'm expecting to hold my cannabis stocks for quite some time.


On the daily chart , HITI made some lower lows, while the RSI made higher highs. This divergence is nice, but not enough for me to enter.


On the hourly chart, we saw the asset hold this support line after an upward move on November 8th. In addition, price was above the 50SMA on the daily chart . I entered at end of day on November 8th.

By the end of the week, HITI was up testing the 200 period SMA . If we break north of this line, I will continue adding to my position to build it.

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