Trulieve Cannabis Corp - $TCNNF Chart Analysis
TAKE A HIT OR LET IT SIT?
Trulieve Cannabis Corp. ($TCNNF) is currently on a downtrend, which from the start is clearly picking up pace as we reach a critical volume channel that didn't have much in 2020 and will look to replenish.
After a primary correction, the cycle of a downward impulse will continue selling until we reach around 15.77-ish and will act as a small correction, which might give long investors a swing play opportunity if conditions present themselves (could produce $2 gains). With MACD divergence starting on primary correction ('C'), it's likely this divergences will continue through out the 5th wave down.
After a short correction, Trulieve will descend again to low $13 and by that time everyone still holding will likely sell as I still see this ticker selling off until a sage loading zone under $10.
This has potential to hold after the interval 5th wave completes (around $12.70 - $12.30), if that's the case, the correction could be what ends the primary cycle down. An alert at $13 will allow me to revisit this cannabis stock to think correction play.
Trulieve Cannabis Corp. ($TCNNF) is currently on a downtrend, which from the start is clearly picking up pace as we reach a critical volume channel that didn't have much in 2020 and will look to replenish.
After a primary correction, the cycle of a downward impulse will continue selling until we reach around 15.77-ish and will act as a small correction, which might give long investors a swing play opportunity if conditions present themselves (could produce $2 gains). With MACD divergence starting on primary correction ('C'), it's likely this divergences will continue through out the 5th wave down.
After a short correction, Trulieve will descend again to low $13 and by that time everyone still holding will likely sell as I still see this ticker selling off until a sage loading zone under $10.
This has potential to hold after the interval 5th wave completes (around $12.70 - $12.30), if that's the case, the correction could be what ends the primary cycle down. An alert at $13 will allow me to revisit this cannabis stock to think correction play.
