Galapagos left a big gap behind after tanking hard.
On the 1hr chart bullish divergence on the MACD and RSI has been formed and price is trying to break out of an ascending wedge.
Next thing I look at is the resistence from the 21 MA. If it can clear the MA and price finds support I will open a long position with big upside potential on closing the gap.
Canopy's chart shows a symmetrical wedge that I expect will have a bullish breakout right into the pitchfork. Before that happens it might face some resistance a couple of times and eventually find support either in the pitchfork or wedge line. Price target 39?
After some bad news coming at the last few weeks/months it's time for some positivity. The chart shows a clear falling wedge with a low at 0.943. It know came at a point where I expect a breakout of the descending wedge pattern with a price target at 1.50.
I'm a beginner. Please feedback my idea.
Weed has formed an almost complete head and shoulder pattern. It formed perfectly within the strong downward channel (green dotted lines). I expect we are going to see price falling at least towards 23.5 but most likely towards 21.4. If that last called scenario is confirmed a descending wedge is forming with the purple line and green dotted top line of the...
I think a nice ascending wedge is forming on BTL. It will test the $10 mark in the upcoming days I guess. The wait is for it to break out with enough volume. I'm monitoring.
What do you think? let me know.
After we have seen some cooling down on most of the cannabis stocks I think we are about to see some upward movement again.
A nice descending wedge has been formed with 3 points of good support at 30CAD. For me this might be the sign the wedge is bullish and we will see upward momentum again as soon as the resistance breaks. In the upcoming days you might see some...
After a good run on cannabis stocks I think we have a classic 2nd Elliot wave 5, followed by an ABC correctional wave. Let's see if we can get some upward momentum again from here. Let me know what you think!