Dear Traders,
ICNA had a new run and retraced a little bit before finding support at the 55 ema (which was expected).
I traced a red support line and a green resistance line which will help us figure out when a breakout upwards or downwards will occur.
Right now our price as bounced off the 55 ema, with a volume that is building up, this could mean we will see a rise in the price this Monday.
If the bulls buy the resistance at the 0.386 fib level we might get another run which will, in my opinion, create a lower high. The 0.5 fib level might stop our run, but with enough momentum and vol we could break through it. Let's see what happens on Monday.
Latest news:https://globenewswire.com/news-release/2018/10/04/1601287/0/en/Integrated-Cannabis-Company-Inc-Announces-Positive-Results-from-Clinical-Study-of-X-SPRAYS-Sleep-Product.html#.W7YF8IT8pI8.twitter
''Integrated Cannabis is pleased to announce the successful completion and positive results of a controlled trial of its proprietary Sleep product.''
ICNA had a new run and retraced a little bit before finding support at the 55 ema (which was expected).
I traced a red support line and a green resistance line which will help us figure out when a breakout upwards or downwards will occur.
Right now our price as bounced off the 55 ema, with a volume that is building up, this could mean we will see a rise in the price this Monday.
If the bulls buy the resistance at the 0.386 fib level we might get another run which will, in my opinion, create a lower high. The 0.5 fib level might stop our run, but with enough momentum and vol we could break through it. Let's see what happens on Monday.
Latest news:https://globenewswire.com/news-release/2018/10/04/1601287/0/en/Integrated-Cannabis-Company-Inc-Announces-Positive-Results-from-Clinical-Study-of-X-SPRAYS-Sleep-Product.html#.W7YF8IT8pI8.twitter
''Integrated Cannabis is pleased to announce the successful completion and positive results of a controlled trial of its proprietary Sleep product.''
Trade active:
As anticipated, a breakout occurred.
Now let'see if our green dotted resistance line will be breached or not. I am still expecting a lower high.
Now let'see if our green dotted resistance line will be breached or not. I am still expecting a lower high.
