Long
HEXO Reversal trade
I am going into this reversal, hopefully if it does not gap up tomorrow
Increased volume recently.
Some price stabilization.
Stop loss set at just below the all time low trading price. This allows for a very easy/decisive stop loss position.
Hammer candle stick showing some buying pressure on the weekly at the current price. This is followed by a confirmation on the movement by the second candle.
I will be honest, I am not bullish on the industry, but I am on this as a swing trade.
MACD and RSI look good.
References:
Increased volume recently.
Some price stabilization.
Stop loss set at just below the all time low trading price. This allows for a very easy/decisive stop loss position.
Hammer candle stick showing some buying pressure on the weekly at the current price. This is followed by a confirmation on the movement by the second candle.
I will be honest, I am not bullish on the industry, but I am on this as a swing trade.
MACD and RSI look good.
References:
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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.