Updated
Bull break for ACB
We have a bull break and a bullish confirmation. Indicators at sweet spots, though smaller time frames indicate a possible pull pack to retest $2, gather strength and break to the upside of the 50MA daily. It has been almost 10 months since ACB has been riding above its 50 day line. We have golden crosses on the EMA charts and the smaller moving averages, daily charts show increasing bull volume.
Bulls now need to keep that volume pumping, and keep that price above $2.
There is currently 17.03% short float, translating to 180M shares short. That would make one hell of a short squeeze, bleeding right into my pockets.
Trade entered at $2.06
Stop just below $1.90
Larger time frames show good underlying strength, and recent consolidation has packed a lot of energy. If bulls manage to release this energy to the upside, the bears will finally be bleeding money back into our pockets.
It is my honest believe that now is the time to go LONG ACB. We only need to be very carefull when CGC releases its likely disastrous earnings this month. Fear is still our biggest foe, and we need very little of it to see it rain on the parade.
Short and longer term targets marked on chart.
Yalla! Let's go!
Bulls now need to keep that volume pumping, and keep that price above $2.
There is currently 17.03% short float, translating to 180M shares short. That would make one hell of a short squeeze, bleeding right into my pockets.
Trade entered at $2.06
Stop just below $1.90
Larger time frames show good underlying strength, and recent consolidation has packed a lot of energy. If bulls manage to release this energy to the upside, the bears will finally be bleeding money back into our pockets.
It is my honest believe that now is the time to go LONG ACB. We only need to be very carefull when CGC releases its likely disastrous earnings this month. Fear is still our biggest foe, and we need very little of it to see it rain on the parade.
Short and longer term targets marked on chart.
Yalla! Let's go!
Trade active
Entry $2Stop just below $1.90
Targets on charts.
Trade closed: stop reached
Trade closed. Bastards rained on my parade.
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.