POTX a cannabis ETF is a siwng LONG Setup ( ACB MJ TLRY)
POTX as shown on the 30 minute chart
is showing an ascending megaphone pattern,
a reflection of increased volatility,
The price is sitting on the lower megaphone support line
and the RSI shows weakness.
Green up arrows show each time the price has touched the
support line it has reversed to the upside. The same for the RSI.
I see this an an excellent swing long setup with a target
of about $22 or 25% in a diversified EFT allowing for
a bit of risk mitigation.
is showing an ascending megaphone pattern,
a reflection of increased volatility,
The price is sitting on the lower megaphone support line
and the RSI shows weakness.
Green up arrows show each time the price has touched the
support line it has reversed to the upside. The same for the RSI.
I see this an an excellent swing long setup with a target
of about $22 or 25% in a diversified EFT allowing for
a bit of risk mitigation.
Trade active:
POTX has retested the ascending support trendline. Watchful waiting to add more to the position.