Convergence of both these bubbles shows how delusional investors have become. This shows signs that the global economy is in a bubble. There are a lot of signs showing a bear market is soon to come, this is only one of them .
Whether there is a melt up before that happens is yet to be seen, however i find it to be highly unlikely
Looks like we could be seeing a trend reversal here. All of cannabis has been on a roller coaster, but as summer is nearing with the canadian marketing going legal, it may be time to take a position. If this is the bottom before the hype it will prove itself very soon.
3 nice little waves to retrace huge losses from earlier. Losses happened to fast so we get a nice retrace. trade from earlier netted 28%.
Position now closed as it should bounce off upper trend line and resume the down trend.
well see if it breaks above falling channel or bounces downward to continue downtrend.
Short term long with high risk. First target looking at 2$. if it breaks above, momentum could carry it a bit further maybe 2.25$ however unlikely since the current bounce that we are experiencing is relatively low volume.
MYMMF canadian cannabis company made a small breakout yesterday evening shown by my previous graph yesterday. This morning full confirmation breakout, it gaped up on relatively higher volume through heavy resistance at 2.8$ resistance. Here would be good entry for a run up, this stock might test new all time highs in the coming weeks.
MYM Neutraceuticals making a bullish consolidation at 2.7 levels and is looking for the next big move. Notice increase volume at the bottom in an uptrend. Looking to break this resistance at 2.9. If it Gaps up and breaks pennant increased volume it could reach new all time highs.
OTC:MYMMF has made a good run up just short of $4 following the large increase in the presence of the up and coming cannabis market. That being said it looks like the market sector in general is in a consolidation period and that does not exclude MYM which has broken down after completing symmetrical triangles and hitting upper resistance at $3.4