MBII - I wanted to highlight the Support/Resistance lines that Marrone Bio Innovations have been making over the last few months, to give insight on the price action of the company. We have support at $1.80 & $2.00, and now new resistance at about $2.10-2.15. Using these lines should make your trading easier on what targets to consider. I am leaning towards a retest of the $2.00 support line and below before we can turn the $2.15 resistance line into support.
I am pretty bullish on MBII with legal medical/recreational marijuana on the rise in the U.S. & Canada. If we continue to flow sideways over the next few months, another Cup and Handle is in play. I'd love to hear others opinions and input on MBII so leave a comment with your ideas.
Been liking MBII, I have a channel rising since sometime in May, no position yet, channel support around 1.88
CryptoCostanza
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@Mizer, I would have to agree, the $1.85-1.90 support area has been the strongest support since July. The current selloff looks like it will test that line again.