Recently, marijuana stocks have been consolidating recent gains. Today, marijuana stocks once again, rallied.
My position in TWMJF (largest by market cap) is doing well. I was waiting/hoping these would retreat back to their 50sma. Then, I bought TWMJF on 10/20 on the small rally. It has bull flagged since then. Today, it burst higher.
I (cautiously) added to it. Because:
- Still room to run on RSI, Stochastic
- MACD just now crossing upward.
A few other companies in this sector: ACBFF, MEDFF, APHQF, THCBF, OGRMF, CMDDF
This could ride the upper trendline, it could put in a mini-parabola. For now, it is strong. I'm hoping for a few more days of upside before I sell partial to allow it to consolidate.
My position in TWMJF (largest by market cap) is doing well. I was waiting/hoping these would retreat back to their 50sma. Then, I bought TWMJF on 10/20 on the small rally. It has bull flagged since then. Today, it burst higher.
I (cautiously) added to it. Because:
- Still room to run on RSI, Stochastic
- MACD just now crossing upward.
A few other companies in this sector: ACBFF, MEDFF, APHQF, THCBF, OGRMF, CMDDF
This could ride the upper trendline, it could put in a mini-parabola. For now, it is strong. I'm hoping for a few more days of upside before I sell partial to allow it to consolidate.
Trade closed manually:
Took profits. Maybe early.
"Good enough"
Highly volatile sector, will consider re-entry later.
A cup & handle formation that tags the 50ma would be ideal.
"Good enough"
Highly volatile sector, will consider re-entry later.
A cup & handle formation that tags the 50ma would be ideal.