Support seems to be @ $2.54, this stock has been trading sideways for months and if history is to repeat itself, it looks like there may be some upside in the short-term. Apply proper indicators/oscillators to form a trade. This is not financial or investing/trading advise.
Going long from the Bottom of the sideways move with the oscillators backing me up.
The last 2 times it reached the bottom of this channel it formed an equilibrium and then reversed directions. I expect it to first consolidate below this 12-period EMA line as it has done in the past. MACD is about to cross bullish on the 4-hour. Breaking of the RSI resistance level of 44 will help to confirm breakout.
Medmen stock has been hammered by lawsuits due to alleged negligence by the company executives. All lawsuits and Bear warnings have been baked into current price. There is great potential for the company to succeed if they can get past all the negatives. The current size of the California cannabis market alone is the equivalent to the entire Canada cannabis market...
Medmen stock has been hammered by lawsuits due to alleged negligence by the company executives. All lawsuits and Bear warnings have been baked into current price. There is great potential for the company to succeed if they can get past all the negatives. The current size of the California cannabis market alone is the equivalent to the entire Canada cannabis market...
MMEN has changed the daily trend, but is now going ot have to change the weekly trend and that isn't going to happen any time soon
Notes on chart. Risk reward is very interesting Can play the commons $MMEN.C or the warrants MMEN.WT.C
Looking for a fill the gap strategy this week on MedMen and watching premarket activity in the entire sector to take picks. I'd watch for profit taking after retail longs over the weekend close out their positions. Dip-buy that morning panic folks! So long as the market holds strong through the weekend this could be an epic week before major earnings reports. It's...
MMEN broke it's multiple week tightening equilibrium and the volume is backing up this move. Check out the bull vs bear volume on the hourly chart. This is a trade I plan to be in for a couple weeks in search of a weekly lower high below $8.20s
MedMen MMEN since IPO. Buy at 4$ with sell target at ~6$ (+50%) and stop loss at ~3$ (-25%).
Major resistance in the process of being tested at the .786 fib level. If this level becomes support, I will look to see a target at the 0.5 fib level for the medium term. EMA 12 and 26 are crossing on the 4-hour and the daily is not that far behind. Bullish RSI.
Medmen will close some gaps. Target hit around Jan 9/10th.
First head and shoulders complete. Looks like a possible reverse head and shoulders, then a correction. RSI still not oversold and bad financial news continues to dilute the price of shares. Daily middle bollinger band proved resistance this week where Medmenn could not break through. Based on RSI and financial issues, I predict this as a realistic situation. Thoughts?