McGuireTO

TRST bulls extended against key resistance

TSX:TRST   CANNTRUST HOLDINGS INC
TRST is one of the few names that held its uptrend intact rather than breaking key daily support. low of Friday 11.26 is the new must hold level for the bulls to maintain the uptrend. Bulls finished strong at the high of the day, and just below what is essentially a quadruple top on the daily at 12.75. The hourly chart is over extended, having seen 7 green hours in a row and is due for a healthy pullback; Anything over $12.25 would keep the bulls in absolute control and in prime shape for continuation, while anything lower would increase the possibility of setting a lower high compared to the high of Friday.

Daily volume was not incredibly convincing so bulls should kepe an eye on the hourly volume in the pullback on Monday for clues on the possibility of continuation. Of course sector leader CGC will be important as well, if the sector is weak, the correlation may prevent the TRST bulls from being able to continue upwards and test the all time high.
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