Columbia Care Inc - $CCHWF Chart Analysis
SPARK IT UP OR LET IT SIT?
Columbia Care Inc, following the overall cannabis sector, has been displaying 'Reggie Miller type highs' leaving investors wondering if they will get a playoff buzz.
On the weekly chart, CCHWF has been hotboxing inside a running-flat, but on a daily it appears as a reverse symmetrical triangle, will it pop out fresh or need a weed nap?
Just breaking out of the Running-Flat extension, via 3rd-4th wave, I would expect the MACD divergence to correct itself on the way down before the cycle correction
I see hardly any volume under the $2.45 area of support and assume it will drop below that until $1.80, there we could see if a cycle correction is possible, but be weary as last time this cannabis ticker was in that zone, some may have panic and sold pushing price action down to $.70's, which could happen again, giving the weight of recent volume that this weak support as to hold up.
As for me, I don't think I'll be hitting this joint anytime soon, but will keep an eye out mid/end of May for possible swing.
Columbia Care Inc, following the overall cannabis sector, has been displaying 'Reggie Miller type highs' leaving investors wondering if they will get a playoff buzz.
On the weekly chart, CCHWF has been hotboxing inside a running-flat, but on a daily it appears as a reverse symmetrical triangle, will it pop out fresh or need a weed nap?
Just breaking out of the Running-Flat extension, via 3rd-4th wave, I would expect the MACD divergence to correct itself on the way down before the cycle correction
I see hardly any volume under the $2.45 area of support and assume it will drop below that until $1.80, there we could see if a cycle correction is possible, but be weary as last time this cannabis ticker was in that zone, some may have panic and sold pushing price action down to $.70's, which could happen again, giving the weight of recent volume that this weak support as to hold up.
As for me, I don't think I'll be hitting this joint anytime soon, but will keep an eye out mid/end of May for possible swing.
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