RE:RE:RE:RE:I wouldn't bet the farm on any weed stocks right nowTradinMusician wrote: ERTGuy - I've been swing trading ACB and RTI for a while now. I like to buy half of my position when a bullish MACD crossover occurs, then buy the other half when it is confirmed by a bullish PMO crossover. I sell when the RSI is above 70 for a while. This has worked well with these 2 stocks and I'm up 64% this month. I make these high risk trades in my TFSA so I can keep all of my gains. I do boring stuff in my other accounts (sector rotation strategy using ETFs or individual stocks). Cheers!
I usually buy before the MACD crossover if a combination of technicals and fundamentals are in favour of a breakout, that way I can capture more short term upside. On the chart it looks like ACB's MACD is set to crossover however you also need to factor in how the rest of the sector is moving and in my opinion capitulation at some point is coming, and I'd rather be a buyer following that move so as not to get caught holding a bag. I actually consider the news from the halt a positive for the company, however the sector's weakness dragged against today's positive news so anyone long here should be careful, You Need to start looking at the longer term charts at this point and figure out where the sector will establish a longer term uptrend.