tradingzebras

Consolidating just below resistance lines, waiting for signal.

TSXV:XLY   AUXLY CANNABIS GROUP INC
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After getting spanked all 2018, this stock might be ready for its time in the sun. I am cautious, however, since this stock has performed so poorly in the past. Trying to break a strong resistance at $1. The 12 and 26 EMAs have been acting as support all January as people buy the dip and this nice bull flag has formed. I'll be waiting for a break in both the price and RSI resistance lines to indicate breakout, as well as volume spike. Subtle bullish RSI divergence since last summer in promising. If the EMAs do not hold as support, more consolidation is still needed.

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Thanks for this idea. I have been following XLY for some time, and bought the dip every time I could afford to buy some. The $1 line is notoriously resistant for penny stocks, but I'm sure that Auxly will get its spot in the sun soon enough. Especially with CRON and CGC so far out of reach now. XLY is vertically integrated, and looks ready for a deal. Considering its current value, it wouldn't be too hard, relative to player that are more ahead in the game, to land a deal with a big investor. But even on its own power, the only way for Auxly, is up!

Earnings call on Monday. No idea what to expect. But when Auxly starts producing results, this stock is going to double at the worst. Once it gets into the media spotlight, we may see it follow behind ACB in the next year or so.

Buy the dip, and hold.
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