The falling knife continuesNew daily, weekly, and 7 month low, after the "blow-off top"of $70 only 7 months ago. WTF....
WEED is now under $21.
AS I have said for several weeks, there's a major support for WEED at $19.444,and I fully expect, based on the candlestick chart, that this stock will drop to this level in the next few days.
In fact, given the bearish newsw in the entire POt sector, Weed can easily drop below this support.
That being said, if we look back 12 months to OCT/2020, Weed traded in a range $18 to $20 for several months.
And if we think back to the pandemic, WEEED tanked to $12...as Retailers engaged in panick selling....
If, IF, IF there is a market correction on the NASDAQ, DOW, S&P 500 of 10% or more, which could easily happen, you will see all POt stocks tank by the same %....
I am all cash...waiting....
Playing the stock market is essentially gambling---like pulling the leaver on the slot machine. NOt sure???? Think about it....HOw much Jack??? Coin? Money??? Have you lost??? Why not toss some more on to the jack-- black table...Perhaps you'll make some money.