I think that HEXO is close to a bottom. 0.10$ possible aka 2.618 fib level possible as it coincides with a 1.618 projection of the AB segment.
I think that HEXO would rally from there if it doesn't rally before.
Chart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 2.23 CAD
TARGET = FIB
To make the Scenario play out : Price got to get over 13.00
This is about to get serious.
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Hexo seems in good postion to test next resistance à 11$61
Pro :
Hexo as found good support on 50 MMA
Hexo has closed today above the 20 MMA.
Breakout of the uptrend channel.
Breakout on RSI 14 and RSI SPX 50
Cons :
MACD looking good but needs to confirm
ATR is decresing
Copied 2017 & 2018 patterns
For this to happen, this needs to occur;
1) Hexo’s Q2 record gross revenue ~50M$ + positive EBITDA - earnings should be released around mid-march.
2) US banking and decriminalization by June
3) Canadian regs change to allow case quantity of Bev purchases - in Q3 2021
HEXO road the 50MA all day today
Just crossed the 9MA and about to
cross the 20MA...does this mean
we are about to see a breakout??
What we can say is that the rest of the
MJ Stock Index is also in the same START
position!
Is this a "CALL" to action??
HEXO Corp. is a consumer packaged goods cannabis company, which creates and distributes products to serve the global cannabis market. It serves the Canadian adult-use markets under its HEXO Cannabis, HEXO Plus, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis. The company was founded by Sébastien St. Louis and Adam Miron on October 29, 2013 and is headquartered in Gatineau, Canada.
TSX
