Weekly is starting to exhaust downside momentum,when this catches a bid the impulse up will be substantial. If we double tap the bottom SRSI again, PA could shed another 10-15% in which case buyers rejoice but if oscillation grinds up and out I'll move to trading the breakout.
Wave 1 did a 50% retracement and I have my buy zone at the 50% as well for the end of wave 4. Currently it looks like we are in the B of our ABC correction through wave 4. Upward trajectory seems likely to continue, unless we break under $1 again.
Seems like we should be getting an upwave soon, but I'm just not 100% on my wave count here. Our volume looks good on that last big upwave, suggesting to me that it's only wave 3. We got a double top on the RSI for that wave though, which might point to a good sell out point for wave 5. That last big sell off where 4 is might be a decent support.
Keep an eye on...
You can see that the pressure in the RSI broke upward when we went to .85 and then bounced off our average line, showing that the average line now represents a support
RSI and price charts are showing concentrated pressure. Probably gonna pop a bit here soon. We're really close to the all time low points from the past, and honestly $1 seems like a great value for this stock. Got me 200 shares. Planning to hold until year's end or late spring depending on when it REALLY pops.
Back in LBUY after selling my last position with profits beginning @ 1.82 as it sold off.
I side stepped a big decline and went back in at what looks to be minor support from an uptrend line @ 1.35.
US MJ stocks are being ignored as we approach legalization in Canada.
Do not like the way the stock has traded after taking profits @ 1.82. Closing out the rest of the profitable trade @ 1.56.
Will look to buy again lower or deploy the cash elsewhere.
Long LBUY @ 1.38. This company is pretty much the Groupon of the legal weed movement.
They are constantly adding new dispensaries and partners to list their deals and discounts as well as adding new features to their web site such as
a job posting page. This stock has pullback all 2018 and looks ready to turn up.
Taking a long position in LBUY as it approaches support.
Has been in a heavy downtrend and am expecting a rally as
this stock continues to report nice results and the price continues to fall.
I believe we have found a bottom and I went long. RSI has turned up and looks
like MACD will follow.
