Hope you got in brother!
Curious on if you have thoughts on where this could go. I am having a hard time, typically I survive by trailing stop loss % but Fidelity doesn't support that feature on this security.
MonetaryRebel
⋅
@kbrown84, Hey! Honestly I'm in this for at least a few years, so I'm trying to just accumulate as cannabis spreads and goes into dips. I usually keep an eye on RSI divergence to determine when the end is near and I don't see any divergence yet. The downturn today seems like a healthy correction to the upward price movement, but watch out for when we go back above $6. If we go up over $6 and lose strength and volume, then I might take some winnings and wait for a new entry. The good news is it's pot, and we're just getting started.
I'm personally interested to see when the overall stock market turns into a bear market, and if cannabis forges its own path out of the rubble as people look for ways to cope.
kbrown84
⋅
@Evdog9000, Thanks for the response! I can't read charts for the life of me yet, but we did have two bounces off 6.80 range today and I set a mental rule to sell if we broke below 6.80. I didn't sell and now we are down to 6.20. However, short term with q3 results coming and CNBC Mad Money tonight (or so I have been told) we should have some forward momentum tomorrow. I am not sure where to start taking profits on this one. But, it needs to happen for I do have some debt I need to eradicate. I would ideally like to take profits then start accumulating again on the dips as my financial situation improves.
MonetaryRebel
⋅
@kbrown84, I try not to watch those shows cause they tend to make me emotional and then I make quick, rash decisions. I think you're right to wait until the morning and see where the momentum is though. The RSI went down on that last peak above 7 which could indicate the end of the upward run. An associate of mine advised selling half or a portion, to keep some and use some. Just depends on your trading fees, cause I know I have to pay $5 each trade.
Curious on if you have thoughts on where this could go. I am having a hard time, typically I survive by trailing stop loss % but Fidelity doesn't support that feature on this security.