ACB is out in the cold
Uptrend channel broken with a gap down, on Monday. Yesterday we saw that gap filled, with the bottom of the 3 month old trend line now serving as resistance.
We have a bullish engulfing candle on the daily chart. Today we'll need to see confirmation of that, with bulls breaking the $9 price resistance with good volume to look for a daily lower high. If that doesn't happen, we're likely to knock on the trend line door for a few, before turning away in the opposite direction. First stop on the way down is $8.25, then $7.80, then $7.50.
I expect that we will a slow trajectory to those targets as long as the broader cannabis market continues to consolidate, and ACB has not presented us with anything to draw bulls back in.
We have a bullish engulfing candle on the daily chart. Today we'll need to see confirmation of that, with bulls breaking the $9 price resistance with good volume to look for a daily lower high. If that doesn't happen, we're likely to knock on the trend line door for a few, before turning away in the opposite direction. First stop on the way down is $8.25, then $7.80, then $7.50.
I expect that we will a slow trajectory to those targets as long as the broader cannabis market continues to consolidate, and ACB has not presented us with anything to draw bulls back in.
🅱🄰🆁🅺🆆🄾🆁🆃🅷
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🅱🄰🆁🅺🆆🄾🆁🆃🅷
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.