The 1.618 on a linear scale points @1k
The 2.618 on a log scale points @1.21 wich we reached recently and bounced on.
Would need further confirmations such as daily close over the 8 daily EMA and the 21 Weekly EMA.
AKA My old analysis updated with reverse split price :)
I think that HEXO is close to a bottom. 0.10$ possible aka 2.618 fib level possible as it coincides with a 1.618 projection of the AB segment.
I think that HEXO would rally from there if it doesn't rally before.
Chart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 2.23 CAD
TARGET = FIB
To make the Scenario play out : Price got to get over 13.00
This is about to get serious.
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Looking at the HEXO chart we see a nice looking symmetrical triangle that could trigger a rally if the price can close above the resistance. The cannabis sector has been getting a lot of attention lately, hence the rally in many cannabis stocks as of late. A weekly close above the $1.12 resistance could trigger prices to test the $1.75 level and above.
From Light of the 5th Moon.....
Earnings around the corner from that!
A license to SELL RETAIL from HEALTH CAN!
Many many things are coming together
4HEXO it has been a long road, some of the greatest challenges
are about to be overcome....
$HEXO is bumping up against the long-term downtrend line since last May. We believe that the cannabis bear market from 2019 is over and we are witnessing names like $CGC seeing a nice bounce off the bottom. $HEXO is one that could really get going considering its low share price and 12.68% of the float being short.
HEXO Corp is an award-winning consumer packaged...
normally a lot of bad funda happens when they want to decrease price with all energy they can. happened in Tesla and beyonf meat if you remember as well. technically has high chance to reverse to first fibo resistance. but funda can decrease it as well. this triangle is critical to decide. so can help you decide go short or long based on the reactions to it
