This trade truly is the epitome of risk:reward. If you look at Creso Pharma (CPH) in October-December of 2020, you will note EXL is mirroring similar price action. What this means, is that EXL is literally trading at all-time lows, and this takes into consideration the 2020 Covid Crash. I am currently in this trade with two (2) entries, one at $0.19 and another at...
After forming a double top at the end of May last year, ASX:EXL has been bled down - dropping 90% (!!) from its all time highs. The bulls stepped in, providing some relief with 4 straight weeks of buying early this year. Can this be sustained?
Here's why I'm bullish:
Volume: High volume week, pushing the OBV above the 13EMA. "Volume precedes price", aka...
1. Price has moved out of the LT downtrend (Starting April 19)
2. Price closed the recent gap while slowly building a base.
3. EMA is converging and slowly crossing upwards
4. There is an overhead gap at $2.10 which I would be looking to target.
Possible Reasons For Failure
1. No bullish price action/candlestick pattern printed after closing the recent...
The marijuana sector on the ASX has been showing some volume returning to the market.
Time to long some stocks.
Purely Technical analysis here..
Fibonacci tool range from the low where volume increased significantly to the high in May.
price has pulled back to the 50% range
314MA seems to be showing some support with a few touches on the 4 hourly.
Quick overview on how I use some of the Trading View tools to mark up charts so I can see what I was thinking at the time and why I traded (or didn't) them.
Makes it easy when you are flicking through your watch list to see if they meet your criteria to enter or exit a trade.
Also good way to keep kind of a training / trading diary so you can see whether you...
$EXL - ELIXINOL GLOBAL - Cannabis company with a decent chart.
I've been following EXL for the last week or so after reading an article on them by an analyst who I quite like. ELIXINOL seems to have some good momentum in its business aggressively going after overseas markets. After a bit of a retrace entry conditions look good so have put in a bid. Would have...