Its hard to believe this stock has lost over 99% from its 2018 high.
Early, mid and even recent cannabis adopters have been crushed.
Was it hype, hubris or too much indulgence of the product ? Who knows .
Ours is to find a profitable trading plan with the odds in our favour.
There have been many points along the way to establish long positions, but like the product, they quickly wore off. (The most recent was this October.)
I am suggesting another such situation exist here.
The weight of evidence suggests a recent short term bottom and a long side opportunity.
Harmonically the confluence of a Gartley, Cypher and ABCD patterns should signal at least a reversal.
Additionally selling pressure may be abate once yearend tax loss selling is over.
I have clearly marked a roadmap for entry, stop and target points.
Additionally I need my or your momentum indicator to "roll up".
Once in, manage the trade.
I will follow up and advise of any action.
Not investment advice, do your own due diligence.
Peace
S.
p.s. Let the price re-challenge the $1.17 area for entry and ignore todays wide range.
Early, mid and even recent cannabis adopters have been crushed.
Was it hype, hubris or too much indulgence of the product ? Who knows .
Ours is to find a profitable trading plan with the odds in our favour.
There have been many points along the way to establish long positions, but like the product, they quickly wore off. (The most recent was this October.)
I am suggesting another such situation exist here.
The weight of evidence suggests a recent short term bottom and a long side opportunity.
Harmonically the confluence of a Gartley, Cypher and ABCD patterns should signal at least a reversal.
Additionally selling pressure may be abate once yearend tax loss selling is over.
I have clearly marked a roadmap for entry, stop and target points.
Additionally I need my or your momentum indicator to "roll up".
Once in, manage the trade.
I will follow up and advise of any action.
Not investment advice, do your own due diligence.
Peace
S.
p.s. Let the price re-challenge the $1.17 area for entry and ignore todays wide range.
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This why you wait for a reversal with a higher target.Never got there nothing done.
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