Get ready to light it up!
Pun intended.
Weed stocks getting a nice rally with the US elections and several states moving to legalize. Just got above the 200dma. With this latest rally it pushed thru the consolidation over the summer and is retracing now. I expect a test of the top of that as support...and notice the .618-.786 fib lines right up with a gap. This would be a logical place price may test and then move higher. This should be the beginning of wave 3 up. Zoom this out on the daily....all kinds of room for this to move up nicely depending on your timeframe. This is a swing trade for me.
Weed stocks getting a nice rally with the US elections and several states moving to legalize. Just got above the 200dma. With this latest rally it pushed thru the consolidation over the summer and is retracing now. I expect a test of the top of that as support...and notice the .618-.786 fib lines right up with a gap. This would be a logical place price may test and then move higher. This should be the beginning of wave 3 up. Zoom this out on the daily....all kinds of room for this to move up nicely depending on your timeframe. This is a swing trade for me.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.