Take a Hit or Let it Sit?
On the weekly chart, Jushi Holdings Inc. (since the recent correction) as been taking some dirty bong rips as the price continues to sell down +45% from prior Feb. highs.
The correction failing to new highs leads me to believe Jushi will follow suit and sell off to previous volume support. If we take the high and low of the correction...
Jushi Holdings JUSHF is my favorite cannabis stock. It moves with real uumph, multibagging into the stratosphere. Although it's been really dragged down since the high 75% ago. But I think its bottomed here at $3.00. You can see my annotations in the chart. It did break that support level recently but it looks like the price is refusing to go back lower than...
After an incredible 1300%+ run from it's low's in March of 2020, Jushi spent the last few months forming a descending triangle consolidation pattern. It recently broke out of the triangle and is now above the daily Kumo Cloud with a positive TK twist. We are also seeing a new higher high for the first time since February and an inverted H&S in the RSI. If it...
The stock is in it's new resistance area following the upward trend line with a higher, low candlestick. However it failed to hit the trend line at close, and will continue to rise to the next resistance somewhere around $6.80.
- Trendline
- Wave analysis
Corrective phase before the continuation of the main Bull market cycle. Correction might be extended but we can expect a flat corrective pattern from the market.
