MJ ETF (cannabis) - Potential Double Bottom Pattern - Monthly
MJ ETF (cannabis) has potentially double-bottomed over the past 6 months (october 2023 to march 2024).
Either a possible tradable bounce, or a long-term rally could occur over time as more countries partially legalize cannabis and marijuana.
Long-term resistance price targets would be: $6, $9, $14, $18.
Support price targets below would be $3, $2.50, $2, $1.
Cannabis companies and stocks are highly sensitive to Government Laws & Regulation changes, Fundamental Catalysts, and Corporate Earnings.
Either a possible tradable bounce, or a long-term rally could occur over time as more countries partially legalize cannabis and marijuana.
Long-term resistance price targets would be: $6, $9, $14, $18.
Support price targets below would be $3, $2.50, $2, $1.
Cannabis companies and stocks are highly sensitive to Government Laws & Regulation changes, Fundamental Catalysts, and Corporate Earnings.
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