Let's have a look at WEED (Canopy), since it reached it's new ATH , WEED has been retracing back to the 55 (Which is a common thing). But the question was, will that 55 hold, well for now it does, but this week has been very volatile.
As long as we stay above that 55 , we are in a mood/trend.
If we succeed in staying above the 55 , our next target will be the 0.5 fib level that serves as a huge resistance for WEED. Bulls have tried multiple times to breach it but without success. And until that 0.5 fib level hasn't fallen, we won't see any run soon.
Any thoughts ?