This is a follow up from my previous post. Price pulled back to EMA and printed inverted hammer. Gap filled but Year open untested. Still looking for PA below Year Open.
MSOS Head Shoulders Pattern Looks bearish in the short and mid term. Furthermore the fundamentels in US turning south with the recent proposal of legalization in New York.
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...
I plan to go long once the gap is filled and we get confirmation it has curled back up or until it breaks the H&S pattern, which ever is first.
Looks like a head and shoulders forming. Supports at $38 and $34.
The volatility in the pot stocks has been hard to stomach for most short term investors as we can see by the huge volume recently as the run for the hills. For those still holding , Fridays action should offer some encouragement as we seen a great late day reversal. When we look at the chart we also see that the gap up was held. the POC although breached was...
Interested in MSOS as a cannabis fund that is entirely focused on the US domestic market. With the new administration and possibility of federal legalization this is a long-term growth opportunity. We're looking for a solid entry point and can see that the MACD is signaling a reversal from the recent fervor. Potential entry levels are indicated. The $46 range is...
MSOS Trendline Break -> Cup and Handle in play = GAP close #MSOS #potstocks #Cup&Handle #GAPclose
For those looking for a good mix of cannabis (no put intended) shares. This could become mainstream with institutional adoption and part of a balanced portfolio.
due a pullback, top of volatilty projected range, overbought.
Hello dear padawans. This will be a short one. If you want exposure to the cannabis market (which seems promising under the new administration), this ETF is the new (hot) kid on the block. Its price soared 130% since September 2020. It seems it is retracing now after that shooting star candle that was the peak of the exhaustion move. I plotted the fib retracement...
$MSOS recently went parabolic with all the hype. Correction is possible for following reasons: - Sitting at the top of the channel with inverted hammer and bib bearish trending candle - Open gap/inefficiency in 40's - Too far from EMA - Volume is dropping Possible correction to the bottom of the channel Invalidation: Clean break/close above last high/channel's top
In commons, I will keep adding around the $41 mark. This has momentum from change in presidential administration and is less volatile than buying actual cannabis stocks. This stock with GRWG and GWPH are the best cannabis stocks that I will keep adding to my portfolio.
Using risk managment and a good view of current market fundamentals, MSOS seems to show a good entry for the Swing or Hold trader.
THC saves lives. Perhaps tobacco industry becomes more "canna-friendly"..... 'cause everyone knows that THC saves lives. What a powerful plant! That's BULLISH. Cannabis is the future! Study it! Educate. Peace.