The Moving Average of a Stock Always gives you an indication of whether the stock is moving up, above the MA line ( bullish uptrend), or trending down, below the MA line...
Stocks typically move back to the Moving Average ( pullback) in an uptrend, or (bounce) in a downtrend, and then move lower...
The moving average for Hexo is
5day- $1.32
20 day- $1.07
50 day- .86 cents
100 day- $1.15
200 day- $2.31
year to date $2.31
Hexo is trending downwards----a bearish reversal since the high of $1.73, sell off. The candlestick on the daily time frame indicated a shooting star....bearish reversal.
There is no reason for HEXO to move beyond the top of $1.73, unless there is some catalyst. Hexo will test this share price as we moving closer to next earnings...
Hexo closed at the low of the day, so you should expect a lower low tomorrow....
As I said last week, after earnings, I expect Hexo to test the psychological $1.00 before next earnings...
Instead of posting opinions---without facts, just guesses, learn basic technical analysis, especially the moving average----and candlestick charts---the uptrend, the downtrend, the range or support and resistance..
Hexo is in a bearish downtrend since earnings were released.
The moving averages will give you an indication of various support levels.
The 20 day moving average, as of today, $1.07....