RE:STRONG TECHNICAL HEADING INTO 4/20 WEEK! BOOM!beeeenz wrote:
Agreed. Must watch trading technical analysis for investors and traders alike.
As per Dan, this news for US Federal support for the legal MJ stage came at the perfect time since the bulls on MJ were running out of momentum Friday with the tight trading patterns and lower volume. Shorts were blindside since bears retreated as bulls came charging in.
Dan played WEED and APH and held long into Monday showing his comfort level in the bull run. ACB investors should not be worried as the three benefitted on this. I hold long all three of these top names plus several other smaller names.
Key short term support is $8.52, the low on the 15 min chart post bull run and resistance is at the highs of $8.85. Given the great news and bull volume, I would not be surprised for us to see us blow past resistance in the beginning of the day at open. As noted, only active traders saw the formidable bull interest late in the day. The rest of the markets are reviewing this during the weekend. $8 will seem like a steal if the bullish strength continues.
Another excellent video by Dan. Anyone who has any money in this space should watch it. It shows you how small full time traders are able to nor only survive but also prosper in these markets.