Long position: WEED.
Good morning Traders!
The last candle on Sept 14 had a low of 52.8CAD. It landed right on the 61.8% fib tool. This usually signals that the stock has "breathe", and it is ready to continue going up... meaning the bull run is not over yet. WEED's new all-time-high reached 74.45CAD. It is currently sitting at 61.52CAD at the time of writing this idea. Moving averages remain bullish and RSI is in the neutral zone.
Personally, I would enter this position but the opening price has to open above 50% of the candle's body from Sept 14. If it does, I will enter a long position with a contract that will expire after October 17th. I speculate that the bullrun will go a few days before Oct17th. The dump will then happen the day before, the day of, and the day after the 17th. Once that happens, I will then enter a short position and ride it out until it hits the new support which was the previous resistance(upper blue line).
I stalk these charts day and night. I am BALANAR!!!!!
The last candle on Sept 14 had a low of 52.8CAD. It landed right on the 61.8% fib tool. This usually signals that the stock has "breathe", and it is ready to continue going up... meaning the bull run is not over yet. WEED's new all-time-high reached 74.45CAD. It is currently sitting at 61.52CAD at the time of writing this idea. Moving averages remain bullish and RSI is in the neutral zone.
Personally, I would enter this position but the opening price has to open above 50% of the candle's body from Sept 14. If it does, I will enter a long position with a contract that will expire after October 17th. I speculate that the bullrun will go a few days before Oct17th. The dump will then happen the day before, the day of, and the day after the 17th. Once that happens, I will then enter a short position and ride it out until it hits the new support which was the previous resistance(upper blue line).
I stalk these charts day and night. I am BALANAR!!!!!
Penafian
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