RE:My interpretationDuediligence33 wrote: Maybe starsearcher40 can offer TA analysis
what I see is lower highs and lower lows
what I see is a short term downtrend bear MJ market that just has a powerful bull trap rally
Stock will resume to retest the $ 7.65 trend line to possibly form a double bottom OR ther could be another leg down
It is now trading below the 200 mda of $ 8.41 and well below the 50 mda of $ 9.81
The next week will be important to stayi above the $ 7.65 which is an absolute must hold level to keep the 1 year uptrend intact from the October 2016 breakout of $ 4.00
an expectation of next quarter financials being positive is already baked into the current price
if it is unexpectedly not as good it will drop and if it is as expected it will be a sell the news event
still in cash waiting for the dust to settle from the Trump ongoing fiasco that affects the general market mentality and also a recovery of the MJ sector back to bull trend which in my opinion will be after the UN question is resolved in July 1 and buyers start to bring money and volume back into the sector which is getting very competitive for investor dollars with Medreleaf doing IPO and investing cash spread thin over Maricann and Abcann and Cannabis Wheaton. many like Rifici have drained cash from Weed to go into other plays. Very competitive now even Aphria suffering. The best 2 along with Canopy.
the longs can wait it out with a bit of suffering but new cash is definitely wait and see. Many like me that observe and wait for re entry.
hold with fortitude
TA trends + likely Trump impeachment+ North Korea taking advantage of American leadership disarray=HUGE(expected for some time now) market capitulation