The Break out chart pattern.On the daily chart, we have support as low as $1.58........$1.82....$1.87
You can easily see this on a chart by drawing a horizontal line at lows, lets say, on the hourly time frame.
We can also identify the resistance----the ceiling---as HEXO cannot move above $2.00
All day traders, educated investors, and smart money can see this....
In order for Hexo to move above the resistance----$2.00, there must be more buyers that sellers to push the price above
So, what is a breakout?? When the share price of a stock, such as HeXO, moves above the reistance of $2.00, and then moves higher very quickly in a momentum move.
So, smart investors buy at support and sell at resistance, or watch the chart on the 5 minute...time frame and see if the stock breaks above.