about 74% are currently long on this position, should be a squeeze from all the people getting weak hands.
after those positions are cleared, it should give a clean slate for some new bullish movement.
Currently short the position, have a take profit set at 1.298. Will go long once executed.
This cannabis (aiming at beverages) company is nothing but promises and hype. They don't even post an address on their website. Almost all assets are just in cold hard cash. Big top directors/execs from beverage companies but inexperienced and very few growers, technicians. Edibles, vapes and extracts are not promised to be sold until later on (if it all). Cute...
Always some excitement about facebook earnings followed by a sharper and sharper drop soon after.
I am thinking there's going to be a lot of psychological coin pouring into facebook stock thinking "oh we survived cambridge analytica" scandal (which is a total joke... when will the liberals drop the whole Russian involvement thing, SAD).
Expecting a be a big drop...
I would short right now in most recent news, all the kylie jenner drama, it's going to behave like a typical tech stock. overvaluation right now is going to correct itself, but once you see some resistance it's time to go long again. in about 2 weeks time we are going to see some big news about spectacles or other updates and there should be a big hop.