So, in the previous chart, I was thinking that it wasn't going to cross that line due to the volume and or buying power. Well, they have just acquired final approval for the acquisition of CanniMed earlier today. A combination of diluted asset and possible positive conviction I believe, has lead to an increase just above the trend line. This has allowed me to move...
As we can see it has broken below the previous support line and tested twice, confirming the new positioning of the line of resistance. I have also redrawn a slightly longer chart, with a bigger Fibonacci snapshot and new downward trend line that was squeezed down to meet the upward trend that we were previously starting to form. That line has also been taken back...
ACB flat-lined a bit as described in the post linked below. making a small consolidation and is now starting a retreat to a hopefully oversold price (maybe sub $7.00 hopefully). I want to draw attention to the big head and shoulders pattern that has formed. If the price were to break under $5 Id be very worried for the long term outlook for this stock. That...
So were completing the correction waves here. Still making nice fib bounces with today's confirmation candle. It looks like were headed for the final bottom here shortly, within the next week id say. If this happens it will shake all the weak hands that bought around 12-14$ and well get a nice bounce at 24% or 32% fib are my two buying targets (7.4$ and 5.6% cad)....
As I mention in a lot of my posts, Fibonacci ratios are great for speculative and volatile markets. ACB doing the same things as WEED (more or less). From the top a retrace to 38% from the top (scary accurate) at $7.2 and looking to retrace the correction (second fib chart on the right) in correction waves anywhere around 38% (10.2) (reached already) and 62%...
Got to add to long position at 4,84. awaiting further progress.
$ACBFF has a good setup for a long idea on a breakout. The stock is extended but with Marijuana being so hot right now the momentum alone can make this a nice trade. This stock is actually the U.S. version of Canada's ACB:CN. What I like for the trade's potential is marijuana is legal in Canada which gives people confidence that these Canadian based stocks can...
"High" Potential is what i said to myself about 21 months ago and indeed it has proved to be a very good investment. Entered at 0,95 and will obviously hold but there is a chance that starting around march there will be some opportunities to add to my position.