Purple lines showing trend direction in general.
Dotted green lines show major channel being broken around 7FEB19,
Begins to form right shoulder
The two dotted white lines represents sell area (may go a little higher but were not greedy right?)
Sell at $7.29
Look for $5.50-$6.00 entry afterwards?
While the rest of the market was getting pounded, NBEV is bucking the trend. There must be demand for this stock as they introduced weekly option dates which makes it a much better options trading vehicle. Initial target of 7.50 would be an area to look to sell covered calls or fade into strength or a pullback towards 6.0 looking to sell puts. Final target...
Much of the market consolidated or took a downturn today, but with their new line of (Bob) Marly + CBD infused drinks I think we still have a long term winner. If your more of a daily trader you might just move your Stop Loss to the new support level and keep marching along unless we see more bearish signals.
Nice swing upwards, looks like an ascending triangle. Chanelling up in the meso levels and just touched the daily OB. Tough resistance ahead, if there's good volume income could break upwards.
I would short scalp the resistance OR long the retest after breakout.
So we all know about the big and little tea cup forming on nbev...looking for a breakout this week again on 6.90 and after is long before 8 bucks. If it breaks 8 pscych...then its a fast run to 9 dollars. Yest there are resistances on the way to 9 but the main pain is getting out of that tea cup