RE:RE:RE:RE:RE:RE:RE:Someone trying Real Hard to keep this under $12???
Depends if you are a gambler or technical analyst. Technical analysts are looking at the charts trying to find if the $11.80s are the bottom to jump on. I received a lot of heat from investors as we touched the overbought $13s declaring I was taking some profits to be able to rebuy cheaper.
From a TA perspective, I see a lot of support here in the mid $11s and higher so that tells me to jump in but it's really mid signals shorter term. If we an hold $11.80s today on close, we're on solid ground.
DMAs are $11.42, $11.56, $11.71
We have positive CFM (chaikin money flows) which tells us in fact brokers using the anonymous flag and bearish wash trading techniques are trying to mess with the TA and giving us diverging contradicting indicators. That's in fact a bullish indicator on the charts but it all depends on where the wider sector and markets take us. The bears won't be able to hold this down for long once the tide continues to rise.
MACD crossed over to the positives on the daily is possitive but this messing around putting us in a tough position short term. I think we will hold, otherwise I would be selling and picking up cheaper. It's just too risky to sell with the takeover potential so real. Diageo didn't put one of their top executives on the Aphria Executives for the fun of it. They are ready to move in. The only question is not "if" this will play out, but "how".
The dip here that seems to put many in panic is the exact reason I advocate selling on overbought. That turns these dips as a buying opportunity. My only question is, will the prices get even better? $11s is still very good with legalization days away.
It's like waiting for a store to put up "SALE" signs before xmas, you know the 40% if very good, do you wait for the 50% off. If you've filled your boots and don't have any dry powder, you certainly see it from a different perspective. For those longer term hold until there is a fundamental event. That will be the vote. Once passed, thing twice about holding everything on grossly overbought. On auphoria, consider taking some off the table. Will we be at $15, $20 or $25 then, who knows but the charts won't lie.
RIght now, I see a bear parade so I'm ready to rebuy my traders and some.