MSOS is oversold now. Looking for a possible bottom in the 29s
RSI in oversold levels and finished the day with a nice hammer candle. Shooting my shot and hoping this is near its bottom.
Weed industry is going to be here in the long run whether people like it or not. Whether it can be profitable remains in the hands of lawmakers, and that is the only thing that makes me a tiny bit nervous about this trade. Also the weed ETF space is beginning to get a little crowded for my liking.
With that being said, I expect this ticker to find support near the $30 level with an eventual bounce back into the low to mid 30s.
This would also be a nice accumulation play for those looking to hold something long term. 100% American weed companies in this ETF, and that is where the money is going to be as soon as legislation/legalization happens. These companies have been beaten down for 7 months straight now, even while reporting positive numbers growth. Eventually a value is a value and this will shoot up for those who are patient.
Weed industry is going to be here in the long run whether people like it or not. Whether it can be profitable remains in the hands of lawmakers, and that is the only thing that makes me a tiny bit nervous about this trade. Also the weed ETF space is beginning to get a little crowded for my liking.
With that being said, I expect this ticker to find support near the $30 level with an eventual bounce back into the low to mid 30s.
This would also be a nice accumulation play for those looking to hold something long term. 100% American weed companies in this ETF, and that is where the money is going to be as soon as legislation/legalization happens. These companies have been beaten down for 7 months straight now, even while reporting positive numbers growth. Eventually a value is a value and this will shoot up for those who are patient.