First US cannabis ETF is gapping down, both longs and shorts are fair and reasonable.
Longs:
- Bottom of channel will be retested soon and may bounce.
- Gap shall be closed and may bounce.
- Once year open retested it may bounce.
- I'm not watching news so I have no clue what they say on CNBC.
Shorts:
- Formation of H&S pattern, therefore measured move possible.
- If year open does not hold, we will be gapping down all the way to the beginning of the bullish cycle for retest.
- Usually new asset formation includes some form of the squeeze. They want all your money therefore they will trigger every stop on the way.
Not financial advise.
Longs:
- Bottom of channel will be retested soon and may bounce.
- Gap shall be closed and may bounce.
- Once year open retested it may bounce.
- I'm not watching news so I have no clue what they say on CNBC.
Shorts:
- Formation of H&S pattern, therefore measured move possible.
- If year open does not hold, we will be gapping down all the way to the beginning of the bullish cycle for retest.
- Usually new asset formation includes some form of the squeeze. They want all your money therefore they will trigger every stop on the way.
Not financial advise.
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