Forget the FAANG stocks, time to revisit the POT stocks
Yes, it is like a sector rotation for equities. FAANG stocks has enjoyed unparalleled astronomical returns for as long as they were publicly listed. Now, I know many of us for whatever reasons are not in these FAANG stocks and in a way ,regretted why didn't they got into it....
Nobody knows how high they can go but since they are already so sky high, any room up there might be limited with higher possibilities of pullbacks every now and then......
Weed or POT stocks on the other hand had their glorious days too in 2016 to Q1 2019 before they plunged down badly.
10 months have passed and it looks like they deserve a 2nd chance. WEED found support at 24.14, broke out of the bearish trend line and is now hoovering at 31.71. It may retrace a little back to the support level at 28.21 (we are buying here) before it charges higher up.
Nobody knows how high they can go but since they are already so sky high, any room up there might be limited with higher possibilities of pullbacks every now and then......
Weed or POT stocks on the other hand had their glorious days too in 2016 to Q1 2019 before they plunged down badly.
10 months have passed and it looks like they deserve a 2nd chance. WEED found support at 24.14, broke out of the bearish trend line and is now hoovering at 31.71. It may retrace a little back to the support level at 28.21 (we are buying here) before it charges higher up.
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