CANN just experienced a daily MACD cross, meaning it's ripe for an uptrend. I'm expecting that it will be stuck in this symmetrical wedge for quite some time, but we all can still take advantage of that. A decent 20-30% swing upwards is expected.
RSI levels on both Daily and weekly time frames are approaching all time lows. Within the next week or two, we could see a bounce that is similar to one that happened last year. A good strategy would be to slowly enter positions in the mid/low $6.00 range. If below $6, it's a definite buy. I also expect the indicated gap to be covered this year.
We've run up very fast in the last few days. Indicators are showing that the stock is overbought. A consolidation period of a week should cool the stock before it attempts another run.
TRST earnings are in an hour and have a good chance of being well received. However, a recovery of both SPY and the recent WEED dumps will help TRST regain some of it's former stock price. Currently, it has completed a large bear flag and it is likely that it is the left side of an inverse head-and-shoulders pattern. An entry point tomorrow would be an excellent...
Expecting a double bottom at around $8.10. Good buy point. Support is at $8.10 and $7.82, so a stop loss just below either point would be ideal. Earnings are expected to help this stock recover.
A break of either boundaries of this symmetric triangle will signal bullish or bearish action. Stop loss at $1.70 is recommended.
We ended the day very close to the upper boundary. It is more likely that the trend will break the upper boundary than it would the lower one.
If we see a strong bounce next week, it could signal that we're in an inverse head-and-shoulders pattern. A likely bottom is forming, good entry point.
The initial up-trend has formed the leading rim of the cup. Currently the stock is trending along a U-shaped curve on the hourly time frame. Potential bottom around the $0.35 - $0.40 range, where it will hover there for up to a week. Thereafter, an upward trend towards $0.80 once again.
Textbook triple bottom dictates that (1) the stock must be in a downward trend, (2) bounce three times at roughly the same level, and (3) bearish volume should drop. In this case, all three points have been hit. Trend reversal and leg up towards the $0.60 range is likely.
