CWEB Trade Set Up!

Hello Traders!

Today’s chart will be on CHARLOTTES WEB HOLDINGS, a pot stock to keeps your eyes on!

Points to consider,
- Overall trend bullish
- Price respecting upwards trend line
- Bulls testing major resistance
- RSI respecting downwards trend line
- Stocks showing downwards momentum
- EMA’s providing price support but looks weak
- Very low volume

CWEB chart is very clear at current given time; shows us exactly what key levels to watch for the bulls and bears. The trend has been putting in lower highs over the couple months, with price now testing resistance, gives us a good trading set up!

The RSI is respecting the downwards trend line as the stochs continue to show downwards momentum. It’s important to consider that the volume is very low at given time, as when we see a breakout, it is expected that volume will increase drastically.

If bulls are capable of breaking local resistance, we can witness gains of up to 20% and vice versa if bears are able to break upwards trend line…

What are your thoughts on CWEB? Will it break bearish or continue its bullish momentum?

Please leave and like and comment,

And remember,

“You never know what kind of setup market will present to you; your objective should be to find opportunity where risk reward ratio is best.” ― Jaymin Shah