ACB a Cannabis Penny Stock LONG
Updated
ACB is moving of late due to the legalization of marijuana in Germany as well as the election
referendum in Florida in November. It is the best capitalized of the peer penny stocks in
this sector. Today from the low at the opening bell to the high before the NY lunch hour, ACB
moved about 30%. There was both a long and short trade here. The options moved
multiples. National MJ Day is April 20th. I expect these stocks to keep moving at least
until then. ACB is getting support from the mean anchored VWAP line and is able to run
with its bullish momentum to the second upper VWAP line before the shorts take positions
and longs realize profits. Since ACB is now situated at the mean VWAP, it is set up for
a long entry now.
referendum in Florida in November. It is the best capitalized of the peer penny stocks in
this sector. Today from the low at the opening bell to the high before the NY lunch hour, ACB
moved about 30%. There was both a long and short trade here. The options moved
multiples. National MJ Day is April 20th. I expect these stocks to keep moving at least
until then. ACB is getting support from the mean anchored VWAP line and is able to run
with its bullish momentum to the second upper VWAP line before the shorts take positions
and longs realize profits. Since ACB is now situated at the mean VWAP, it is set up for
a long entry now.
Trade active
Price crossed above the EMA21 and the mean VWAP which now provide support andmaking it st up for an add to the long trade. National MJ Day upcoming on Arpil
20th expecting a run until then. Could Musk be buying in the background?
Note
Note
Price volatile in the past three days but overall sideways. Holding full position.
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