RE:Marijuana Stocks Technical Analysis Chart 4/7/2018
Excellent video first posted here by greenland. This is a "must watch" for everyone. Investors and traders alike.
One trend I've seen on stockhouse are traders pretending to be investors. Creating fear and panic as we downtrend and creating hype on the uptrend to "amplify" the swings. I doubt very much this as any impact on a $4B stock, the most traded stock in Canada. Perhalps these people have gotten into a bad behaviour pattern on penny stocks and think they can do this on these large caps? Certainly, I would not be here if the ignore feature wasn't available. Ideally, I'd also like to "self star" others since the star system doesn't work. Some people I follow have low stars on their profiles while others have high stars but are charlatans and fakes.
Getting back to the charts. We have to maintain the lows of $7.11-$7.30 as Dan correctly points out since these are recent lows. Given the negativity in the markets and the directed short attack on ACB, we might every well see these.
I had reservations taking profits on the last spike but I'm glad I managed my greed factor and went partially back into cash to reload lower. Mondays are usually weak and given the wider markets, I expect we will see a weak Monday until traders and algos get a direction on whether this is a short term oversold correction or a continuation of the bears controlling the markets, this sector and this stock.
Watch these videos everyone. Dan is a 5 days a week, full time, ethical trader. Long and short. Beats anyone I have ever seen although there are some very good traders here. Most factual information on stockhouse tends to get drowned out by characters who seem to be envious.
I hate to repeat myself but humans should help each other. It's the bots and algos with big money that drives stock price. Not little guys with their portfolios even if they might be big.