Reversal Strategy Based on:
1. Price touches or goes below the bollinger band.
2. Stock is trading near or in the oversold region according to the stochastic oscillator.
3. Price formed a bullish hammer and on the following trading day, price did not reach that low.
To reaffirm my strategy, I put in RSI and ADX(with DI+ and DI-) to show that momentum is growing and will trend upwards.
I bought in at 2.50, however it isn't too late to buy. I expect the price to reach 2.84 (it might go even further).
Furthermore, the company is a big player in marijuana and an industry which has seen and will see more growth.
1. Price touches or goes below the bollinger band.
2. Stock is trading near or in the oversold region according to the stochastic oscillator.
3. Price formed a bullish hammer and on the following trading day, price did not reach that low.
To reaffirm my strategy, I put in RSI and ADX(with DI+ and DI-) to show that momentum is growing and will trend upwards.
I bought in at 2.50, however it isn't too late to buy. I expect the price to reach 2.84 (it might go even further).
Furthermore, the company is a big player in marijuana and an industry which has seen and will see more growth.
Trade active:
My estimate of 2.84 was a joke looking back now.
I feel like the uptrend is going to die out in the next couple trading days. I am going to place a stop loss around 3.08 to give it some breathing space.
THCX seems to be a good stock to keep an eye on as its trends seem like consistent opportunities.
I feel like the uptrend is going to die out in the next couple trading days. I am going to place a stop loss around 3.08 to give it some breathing space.
THCX seems to be a good stock to keep an eye on as its trends seem like consistent opportunities.
Trade active:
Has ended up being a crazy trade. It has risen around 55% and price activity shows signs of it staying up there!
Trade closed manually:
I managed to close this trade at $4.29. After a little decline I am confident THCX will rally up again!