=Weak sector on back of recent BTT announcement - company is losing market share and is approaching major support. - Potential short on break of support
Nea has escaped the sell off in the Australian equity selloff however i suspect it's time will come. High P/E name with a crazy valuation.
lower prices likely with weak divergence compared to pot names.
watch for a push through the handle on expanding volume.
800ma confluence with the trendline support - additionally we are seeing extreme breadth reading. Another 1-3days of pain may be required before we bottom (ST) but it's close imo.
High probability of testing base lows after failing at the trendline. Continued Pressure on high p/e names will likely aid this move .
Strong action following the G20 summit.
Leading name on the ASX in the cannabis sector.
Worth watching for a short trigger on the break of neckline and trendline support.
Expect a mean reversion / reflex rally, stops can be placed under the TL
Retail has been nothing but a disappointment over the recent reporting season, i expect JBH to follow its peers.
In Canada, pot has recently been legalised however amongst the stocks, this date aligned with a 'sell the news' event. I expect this selling to come into Ac8.