Hexo is on a long term declining trend right. However with their upcoming earnings report and the possible bounce off the support line they counld enounter a period of upwards trend put into motion by these factors.
Bull breakout of failed bear reversal, outside bull bar H2 variant, new all time high this week. Good buying pressure, still bull gaps open below, the most recent being just above the EMA at 7.75.
A recent analysts upgrade from Bank of America with a $10 price target alerted out attention to HEXO which is a relativity small cannabis company. Large inflows of buyers have since ensued and we will await a breakout above
$7.40 foe a buy signal on continued high volume.
Hey there everyone,
Looks like HEXO could be breaking to some higher highs this month.
The RSI has some consolidation as the end of a symmetrical triangle pattern is being formed. There is a slight wall (blue line) that shows bull pressure still exists in the market. The volume is lower than we would hope for, but price didn't seem to get wrecked by the large...