Long
FIRE Short .45 Long 1.31
Looks like FIRE is setting up for its next rally (the Democratic US election win has given a boost to Canadian cannabis co.) . I'm seeing a short term bull opportunity purely on technical analysis. I saw a short term pullback to the $.30 range (on Feb.18) and now I'm betting it will retrace up to the $.40-.45.
Short term, I'm betting it will retrace to Fibonacci's .618 (H1 time frame) @ $0.46 which has been a strong area of support and resistance in the past. I'll be watching for:
1. M30 to cross the EMA 200 and MA 50 to enter
2. How the Feb.19 news itemTSX:FIRE: FIRE closes 25.9 M bought deal public offering, affects price on Monday.
Long term, I'm betting it will retrace up to previous highs taking profits at $1.31, $2.02, and $3.27
Short term, I'm betting it will retrace to Fibonacci's .618 (H1 time frame) @ $0.46 which has been a strong area of support and resistance in the past. I'll be watching for:
1. M30 to cross the EMA 200 and MA 50 to enter
2. How the Feb.19 news itemTSX:FIRE: FIRE closes 25.9 M bought deal public offering, affects price on Monday.
Long term, I'm betting it will retrace up to previous highs taking profits at $1.31, $2.02, and $3.27
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