After market failed a line of buyers I previously mentioned (did not buy as price did not break with volume) and after studying volume I believe this market is going to drop south of the range. If you are long beware!
Market failed line of buyers on chart I previously posted, this happens and I did not get long as it did not break with volume. I will continue to keep an eye on this market.
I tried to link my charts to my previous posts however it did not work, I am not very familiar with this site yet.
take a look at the 2 previous pivots I labeled P2 and P4 near the high of the range, does not take a rocket scientist to see the change in behaviour.
Enter upon a break of horizontal line with volume with a worst case scenario stop at 1.17 THAT YOU...
Updating my previous analysis and in future charts I will be describing my thought process exactly as I will be entering it into my personal trading journal. After my previous chart I was able to get a fill the following Monday (December 10) @1.10 long. I rode the market up while locking in profit behind it for 2 days, on the third day I exited at 1.50 as buyers...
I had hypothesized earlier that hempco could find support at previous resistance level after being in a very harsh downtrend. now blasting upward through resistance on news of Aurora cannabis's investment, showing that the bulls are still very much alive.
A few factors lead me to believe this stock might make a short term reversal.
First, RSI showing that bear strength is getting weaker. Additionally it seems to have formed a very short term double bottom (can be observed better in a short term timeline graph). On top of this price action could bounce off of 24% fib.
The trading range is decreasing as the wedge...
Observations:
Whenever there is a massive uptrend at such an alarming pace, we always see long drawn out corrections.
We see the next fib level support is at $0.89 which could potentially be a buy zone.
Also included some thoughts around the timing of the correction but I would take those with a grain of salt.
Fundamentally, this company is going through...
If you follow my charss, you know I don't often include equities, but in the wake of the marijuana craze, legalization and industrial hemp coming back to America, especially as an alternative commodity and farming it is worthy of a closer look. HEMP, inc. is an up and coming industrial hemp manufacturer and processor with plenty of upside potential and little...
