[ACB] Pump and Dump... It's Gonna Collapse Again
FOMO got the best of of the market again. Was a beautiful setup. I loaded up on ACB the 5 days leading up to earnings because it was beautifully positioned at insane value and because almost any shred of good news was almost sure to make this stock pop.
Bought @$6.22, sold ~20% @$10.62 yesterday and another ~20% @ $18.56 today.
Will sell another ~20% if it spikes higher again but it was almost surely being pumped a lot extra from the rally and I expect it to collapse back down, maybe bounce at ~$13 and then return to test lows before next earnings.
The impending market crash will make all cannabis stocks the buys of a century (especially OGI) for a brief couple days. 2021 will see explosive growth and massive gains for all of them.
Bought @$6.22, sold ~20% @$10.62 yesterday and another ~20% @ $18.56 today.
Will sell another ~20% if it spikes higher again but it was almost surely being pumped a lot extra from the rally and I expect it to collapse back down, maybe bounce at ~$13 and then return to test lows before next earnings.
The impending market crash will make all cannabis stocks the buys of a century (especially OGI) for a brief couple days. 2021 will see explosive growth and massive gains for all of them.
Komen:
Reliva news update:
![[ACB] Reliva News Blew Up My Plan, Gravity Still Heavy!](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
![[ACB] Reliva News Blew Up My Plan, Gravity Still Heavy!](https://s3.tradingview.com/k/kuc5FGEN_big.png)
Data analyst with a passion for best fit lines B)
Sticking a little bit at the resistance line as expected but notice the volume profile here, will likely continue slide down to POC around $8. White downward line is long term resistance. Once it closes below that it won't close back above for awhile.