Short term: Price closed right at $31.69 Fibonacci support area today on Jan 25 2018. Potential support bounce up entry tomorrow on two supports: Fibonacci as well as 30 DMA. If price breaks below support, next support $27.91. Long term: Strong up trend with a pennant pattern forming recently.
We are approaching the same point as last year, canopy made major gains in November 2016 and December and then receded into a correction followed by a bull trap in February 2017 and subsequent spring-summer downward selling pressure. The reversal we saw from the summer prices was due to canopy performing and executing on their plans. The days of heavy...
Looks like there was a deadcat bounce as predicted. See what will happens next. There is no news so technicals and enthusiasm with the potential legalization are what is the only thing driving up this stock for now. Frankly, it is overpriced but if the traders want to keep trading so to make a quick buck, this may be the ticket but one has to be careful.......
Looks like a picture perfect victory for the house on WEED. Would like to see a bit of a consolidation so I can get a solid feel for which directional we will see next.
It appears we had a top at around 44 dollars so using what we saw last time in Nov 2017 and that we had three day drops already(which usually means a short buying reversal), there should be a quick bounce from here. The bounce I project(again probability using historical and fib math, I am not a fortune-teller) that it may go back to the 38.2 level then reverse at...
Be a buyer in the low 20's. Need some patience on this trade.
Comparing to the drop in Nov 2017, it looks like a drop is due pretty soon. The slope(rise over run) of the Nov 2017 parabolic rise then drop was around 191 and the situation we are in now is at 206. This means a correction is overdue soon. If it corrects from here, Fib shows with the historical chart confirming a typical two drop sequence. This means if there is...
WEED has formed a second downtrend line off of the previous False Break. That part may be open to debate but this is clear. Both downtrend lines are in play, and this pattern will break soon. This should be a clear play whichever way it breaks.
WEED is a pressure cooker right now imo, lots of news the past week.
We had a false breakout on the continuation cycle, but there is still a possible triangle pattern.
Would like to see some consolidation before push into the 20's