WEED Inside Daily Bars & Tightening Range - Break Coming

21 apr 2018

WEED, after the all out dump last week is starting to show some positive signs again. As good news builds up with this company and the sector as a whole (licenses, mergers, good financials etc.), and stocks show little movement, I think we're getting ready for another bull run likely into the June vote. The last three days WEED has shown inside bars, a bullish sign, couple that with the long-term tightening range, room to move on the daily RSI, holding above the 50EMA for the past 5 days, and decreasing bear volume - I expect a solid start to next week, and a break. I'd like it to return to our very long term trend line (shown in light grey), but that may be a little ambitious for this week. I'm hoping for a move beyond $32.