In my opinion SMG is under the radar and an extremely strong buy for the longer term. The new stay-at-home economy and the rise of marijuana industry are big bullish tailwinds for SMG. And just look at that chart - up and to the right!
Hoping the weakness in the short term continues so I can enter a position.
Average in at $115 (lighter)
It is unconfirmed double bottom and there is a positive divergence on rsi. Needs to break $136.06 to confirm the pattern
12 months Consensus Price Target: $124.8
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SMG has recently broken down from monthly trendlines. We will wait for it to recover to volume node and then enter a short position, risking off the 78% fib retracement, which is unlikely to occur. Do not enter position until signs of weakness or target is reached.
I think last week's pullback in equity markets was a good thing. The market got overheated and it gave us a reminder that stocks don't always rise. Memories and patience are short in the finance industry especially with some recent trends (blockchain) skewing people's perception that building wealth gets built overnight. Not the case, in the past 50 years of the...
The marijuana sector is blowing off some smoke after the latest toke up party. The sector is news fueled and volatile but has many buyers on the sidelines so I expect dips to continue being bought. I am a buyer of support levels and a seller of major spikes when we're clearly over extended.