HMMJ: Marijuana dips dont scare me
Updated
The marijuana sector is blowing off some smoke after the latest toke up party. The sector is news fueled and volatile but has many buyers on the sidelines so I expect dips to continue being bought. I am a buyer of support levels and a seller of major spikes when we're clearly over extended.
Supports:
1) 13.83
2) 12.00-12.15
3) 11.13
Sell targets:
Over-extended rallies where daily RSI is 70+ and we're showing weakness on 1-4 hour timeframes.
Supports:
1) 13.83
2) 12.00-12.15
3) 11.13
Sell targets:
Over-extended rallies where daily RSI is 70+ and we're showing weakness on 1-4 hour timeframes.
Note
uh...yeah...moon.Note
euphoric spike and quick flip down lets hope for a strong reversal and dip buying opportunity. New Supports:
1) 19 (aggressive)
2) 17.5s (reasonable)
3) 15.75 (big gap fill)
4) 13.2s (bear dream zone)
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