Hexo is a falling knifeWe are still seeing lower highs and a new lower low on the daily chart...
Today, in the downtrend, we've seen a new lower low---.90 cents.
Looking at a chart, you would see a steep decline every day---and every week...
Today, we broke below a major support of .91 cents...
As I have said last week, and last week, Hexo would tank to .87 cents ( the price that started the runup to $1.73)...
.87 cents is the next major support....
Based on the economic bad news and COVID's potential second wave, Hexo could easily drop to it's all-time low of .57 cents...
I will only day trade when the bottom is in and we trade in a range....
Right now, for 3 weeks, Hexo is a falling knife....
You can never catch the knife, because it usually falls lower....
And remember this truth of DOW theory, a stock's price will continue to drop until some changes the directions, such as investor sebtiment, good news, bullish volume...