RE:RE:Last Friday premarket was up
Well, the historical results of using charting on WEED proves, beyond any doubt, that charts do work.
For example, on WEED, tech analyst predicted a pullback because if was grossly overbought with a daily RSI over 80. Similar to what was seen May 22nd. In May we has a pullback until the 28th and broke new highs June 5th.
So short term, you'll have longer term investors selling to preserve their profits on fear and traders shorting this and waiting for the buy signals to buy in both to cover shorts and then go back long.
Longer trend is bullish so these are just short term predictions.
For the non-trading long only "investors", this is clearly a buy on the dips and the 17.2M bearish volume seen on Friday was significant. Expect more dips and even a gap down tomorrow. The short term downtrend is so significant, short term daytraders will short this name if they can find borrow.
And the best way to avoid all the irrationality based on fear and greed is to look at the charts and ignore all the noise.