Low range Red - 64.29 - 65.00; Expected range - 67.46 - 65.00; High end- 65- 70. ps
News announcement on Dr. Dre Chronic patent infringement has no barring on operations or any tangible lawsuits as it was a filing made in error. Sell off was not warranted. News of crop failure is over substantiated by shorters. Stock rebound 100% for weed on Monday. Ranges are in fact most probable scenarios. 117K shares bought by swing trader at end of day Friday. Signalling huge buying opportunity. 20% rebound expected in the short term.
I do not own shares in Weed, but will be buying a position Monday. Volume is expected to be higher than normal.
@erschbombr, I think its fair to say the run is over. Shorters are taking over the space and volume is not keeping up with bullish momentum. I recommend pulling out, until an equilibrium is established.
isnarain
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@erschbombr, Macro update, major recession likely if TSX drops below 15,500. I believe a major drop in the MJ space along with global economic crisis (Turkey lira - bank defaults - Chinese tariffs) and sector slow downs will create one of the worse economic crisis in the last 60 years for the TSX. In the next 2 months not only will i be shorting MJ stocks, Ill be shorting a wide range of other sectors. There is no stopping this upcoming recession. I recommend you pull out, and begin shorting the MJ space for starters and continue to do so in other sectors. TSX trends showing bearish momentum. Oil is expected to rise beyond sustainable limits, gold is in free fall, Turkey will not be able to pay off debts and will likely start the recession. Global tariffs will likely exasperate the situation. All in all, this will be one of the worse recessions in Canadian hx. You have an opportunity to capitalize on this by shorting. You have an opportunity to make more money than you ever dreamed of in a very short period of time. I wish you all the luck on your future investments. Guru