ACB could make a move up early next week
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ACB tested the $8.20 range all last week, and like a lot of the cannabis sector is forming a small ascending triangle. Upward momentum is slowly increasing.
If volume is good it could make a move towards the 38 Fib, but probably not quite make it, early next week--around the $8.70 range. If this move up does happen I believe it will hold support above the 23 Fib, or ideally, the 38 Fib. Approaching the bill C-45 vote in late May or Early June, this could be the ideal time to get ACB at a good price.
Any good news could change everything though.
If volume is good it could make a move towards the 38 Fib, but probably not quite make it, early next week--around the $8.70 range. If this move up does happen I believe it will hold support above the 23 Fib, or ideally, the 38 Fib. Approaching the bill C-45 vote in late May or Early June, this could be the ideal time to get ACB at a good price.
Any good news could change everything though.
Note
Price has essentially continued to wedge itself in the triangle. Some upward movement seems inevitable. Let's see if this is the week ACB makes a jump up. A downward shit if also possible, but seems very unlikely with the looming Senate vote.
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