Le titre est sur un support important et la bollinger fait un squizz important en Daily, ce titre vas exploser d`un moment à l`autre . Si il monte, il
il pourrais aller toucher le dernier HH ou si il casse a la baisse, ont pourrait aller beaucoup plus bas ( dans les 9$ à 10$ ).
I actually stopped being long on ACB awhile ago. Ill trade it for fun when a see a set up but other than that still stock isn't great. I would fair value ACB currently at 8 Billion CAD. but within the next 365 days they will be running on all 8 cylinders. doubling their value 16-18 billion. ACB has debt and debt going into a recession is bearish. mid term I am...
- TSX:ACB broke above a declining trend line (1hr chart)
- Prices are trading above their 20-day and 50-day MA (1hr chart)
- Prices rebounded off their 50-day MA (daily chart)
- Bullish divergence with lower lows on prices but same lows on MACD and Money Flow
- MACD is about to turn positive.
ACB is starting to waiver as it approaches support and it's next test will be the final one for the trend. If it breaks here we're moving into a bearish move. However it could also hold and move higher the market does seem to be fading. The odds of a bearish move are picking up. I'm going to engage in a PUT position against ACB.
Buying 4x PUT EXP May 17 Strike 11...
- Prices are trading near top end of a rising channel
- A 12% move for a new board member is an exaggeration.
- Bearish divergence with money flow reporting a lower high while prices are posting a higher high (bearish reversal)
- $HMMJ (weed etf) is signalling bearish divergence with MACD posting a lower high while prices post higher highs.
ACB had a huge day pushing it up 10% on news of billionaire activist investor Nelson Peltz hired as an advisor. I don't think this news is enough to push it back to ATH like a major brand partnership would do. We are pushing into some major resistance on the weekly. Currently there is not enough hype in the mmj sector to push us back up to the ATH.
Last week I mentioned the valid upwards channel in ACB. We saw that ACB bounced off the channel as expected but unfortunately could not break the top of the channel. This week we may see another buy opportunity similar to the last.
What to watch:
- Only enter if candle does not break the 4 hr upwards channel.
- Watch in the lower time frame, 30 mins - 1 hour for...
ACB breakout is forming, Ascending triangle pattern
So far the marijuana market has been dragged down by the SPY with analyst upgrades on ACB it's pulling in a lot of investors.
If the SPY recovers from this point even for a brief period of time we may be heading back up to $13-14 levels.
I really don't like that nasty candle that was set two days ago. Ended the day with an hourly bear flag. Followed up yesterday with a healthy pull back. Yesterday it bounced off of supports, and when volume decreased, otherwise down with the market. The close saw yet another bear flag on the hourly.
What will be today. Markets don't look promising. So far, no...
Watching ACB hourly chart for a trend change to tell us the daily higher low is in, and given the % pullback we are likely looking for a lower high below our recent high of 11.26 on any bounce attempt.
Today played out as anticipated today with a quick push up and profit taking. The rest of the day saw sideways trading and an attempt of basing in search of a new support. Key hourly levels on watch are highlighted within.
Keep in mind the past 10 weeks have been an incredibly bullish market environment, which is perfect for MJ bull runs to thrive in. We've...