RE:Speculation on Tomorrow and Next Week. Read Below. and...BePatientBro wrote: I would also like others speculation and predictions based on recent market movement and patterns. So please feel free to criticize my predicitons it helps me learn by reading different opinions with reasons behind them of course.
I believe tomorrow we will see volume but more profit takers rather then gains as today could potentially scare people off tomorrow. I honestly feel premarket manipulation will happen with a dip and then a slow recovery as the day progresses.
AS for next week. We may see some sideways trading but its quite possible we will find a new stable support level for a longer term.
So why?
1. Rsi is down now. MACD is starting to curve downwards.
2.3 straight gap ups in a row. this is a bearish signal for those who trade often.
3. It was following canopys movement for the majority of this run up and today total opposite.
4. Has had on of the highest gains of the bull run so far while others struggled.
5. Level 2 showing over 800k shares for sale within a 5 cent or so range.
6. Financial reports not out and since they are not yet selling internationally (weed) they should not post profits yet.
7. Most marijuana companies still posting operations at a loss.
Please give me your thoughts.
Good good. As I said earlier, it's mostly the technical sell off. Plus LOOOOTSSS of day traders with this stock due to volatility and high volume. So this is expected.