KGKG breakout falling wedge, consolidation, ready to run

The KGKG chart is looking really good. First off while it is influenced by the boom/bust hype cycles of MJ season, the downsides are a lot less severe than many because this is a real business with good products and real sales. The clear bottoming on the chart is a full 100% higher than the previous low. You can see the clear fractals of the huge run of an MJ season followed by long, slow decline and then another pop for MJ season. In this case the decline forms a very large falling wedge. It recently broke out of this falling wedge and sloppily formed a pennant mostly above that falling wedge resistance/support. This is approaching the end of the pennant and will break one way or the other. I think it will be up given the falling wedge and most importantly the seasonality and upcoming national hemp/CBD legalization catalysts followed by the full mid-term ballot-box MJ season in November. The big board MJ tickers like CRON and TLRY doubling and nearly tripling respectively over the past few weeks combined with MSM segments like CNBC's Fast Money's spotlight on pot stocks tonight (twitter.com/CNBCFast.../1034917868146765824) will brings the normal waves of retail interest and money to this sector. Low float, high quality CBD tickers like this will be the biggest gainers.

This is my largest MJ stock portfolio holding. I am very long.

Comment:

I would add that there's not a whole lot of volume above the current price/volume block, so there won't be a lot of bagholders holding this stock back. There are a few weak resistance points including the 1.7 cent price that we just bounced off, but there are not any super-strong resistance points between here and price discovery with no recent chart history. The resistance points are roughly 1.7, 1.8-1.9 zone, 2.2, 2.5, and 3.1-3.3 zone for previous blow-off tops. We are currently resting upon the highest volume 1.4 resistance zone.