trade worked out,took some prof at break of high, then got dumped on, didnt manage trade as well as I should have. Still holding a bit, this is another chart where I need clarity. Maybe top in, ext 5th, sideways WXY need to break some Ls or Hs MO
Triangles are tricky. Converging TL and dropping volume can make a pennant or whatever but EW triangles have rules... cant get a super clear count of the interior waves, so its iffy for me. IF it is a triangle, 1:1 the width of the larger part of triangle off the termination of the E wave is the usual trust out of the triangle....or an extended 5th wave! who knows..
IIPR is ready to breakout again after having already gained 259% in 12 mos. One of the best plays in the MJ market because they lease land to growers and have no need to worry about sales or supply (EPS $2.15 and GRT is 37%). They pay dividends (Dividend yield is 184% with a payout of 2.40 annually with a grwoth rate of 21%) to, which is rare in this fairly new sector.
its gone full ATH bulltard, extensions are tough to keep track of, dangerous entries IMO but risk could be rewarded. Youre either attempting a knife catch or risk getting dumped on... a reasonable person would wait for some LH and LL..
RSI getting close to reaching previous ATH
Price over and above 100% fib extension
Up over 15%+ in a week
Price needs a healthy re-tracement
Good time to take some profit off the table and re-enter trade at a big pull back
Fundamnetally this REIT is way over-valued - its a trading instrument, not something you invest into - highly speculative
I'm watching the RSI...
Last week broke out strongly above a tight trading range. This week and last week are two very strong bull bars - but a possible buy climax. These two bars are the strongest pair of bars since the Dec rally began, increasing the probability of a buy climax and correction soon. Prices may continue higher for a week or two, but it is a risky time to buy. More...
As investors seek alpha plays outside of the S&P500 and DOW30, I expect that the pot stocks will heat up again. IIPR is a great one, especially since they're a REIT and have to deliver profits to shareholders in the form of dividends, but also because its one of the few pot stocks to make it on to a major market index: the Russell 2000. This is definitely a...
This is one of the only ways to collect a dividend on MJ stocks. With their focus on triple net leases for the Medical Cannabis companies they will show a steady growth. A new partnership with (UPREIT) they will be able to reach new deals with an larger infrastructure.
I'll take the dip with upside of 95+
Peep this nice rising wedge pattern that price has respected for the last several weeks. I'm playing a 7% potential profit long to the top of the wedge.
We're riding along a nice horizontal support around $84 and also hovering over a month-long trendline support on RSI. Solid setup with a great risk/reward ratio.
Entry: 84
TP: 90
S/L: 82.75
R/R: 3.65
