NU
I've been watching this approaching its 52 week low for some time and as a business they fail to really excite me. As a trading opportunity, however...
In the life of this stock it has touched the top of the BB9 on the weekly chart three times after a squeeze. Each time was followed by significant upward action. As the volume profile tells us that most of this stock was traded in the 14 to 18 cent range, I am quite happy taking a position around 8 or 9 cents. Given the industry that they are in and the revenue the cannabis industry is currently enjoying, I cannot see this stock breaking it's 52 week low of 6.5 cents, which is where my stop loss would be for a loss of 1.5 cents per share. Risking a potential loss of around 18% for a potential easy gain of 50% to potentially much more, in an industry that is booming globally, on a stock that has historically demonstrated upward action off performance it is exhibiting currently - I feel strongly that this is a no brainer for a 'quick buck'.
Trade closed: stop reached:
Squeeze continues as Marijuana Market flounders.
Holding LONG now, Buying at $0.055 and selling at $0.065+ until legalization of edibles in Canada. Should see a bump there and will exit long position.
Holding LONG now, Buying at $0.055 and selling at $0.065+ until legalization of edibles in Canada. Should see a bump there and will exit long position.
Back in at $0.045
Out at $0.055
Back in at $0.035
Out at $0.045 aaand I'm done.