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.
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.
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!
i just saw this and its currently at $3.20 dunno if its to late to buy, it still looks good but it could turn at any time im wondeirng
AnishBadwe
⋅
@Nabes, sorry I am replying, after a whole trading day. It did go down today but I really think it can work its way up to $3.5. News and the industry are really positive for the company.
Now that it has gone down, it might be a good time to buy in. No promises though.