Traders who took profits will be looking to reenter mid $11s
After the sequential near 20% gain at the beginning of the week, traders took profits to lock in their gain. After the sequential pullback here, the same traders are looking to reenter.
Short term traders are looking to see we mainain a "higher low" as we move up.
WEED being bullish is uplifting for the sector. ACB/LEAF being bearish pulls the sector the other way.
The daily chart is still heathy and the correction of overbought makes the mid $11s a good place to rethink about reentering. Traders will be looking to see if "higher low" is maintain and will like be buying with a stop loss in case the uptrend isn't confirmed.
Happy trading and investing everyone.