Quick Opportunity for a short-term upside for HEXO (HYYDF) WEEDWaves might not be perfect but HEXO ( HYYDF ) is due for a pullback. Watch price go up on Wednesday and it will do so in 5 wave pattern. Looking hit $5.00. VERY RISKY trade but could pay off. Not looking to see a major upswing so be cautious. Not a trading advice, only analysis. RSI is oversold on Daily and Hourly charts so time for it to go up.
Happy Trading!
#weed #marijuana #HEXO # WEED #CGC #TLRY
HYYDF
HEXO forming a daily equilibrium, just below all time highHEXO is forming a daily equilibrium with a tightening range just under its all time high. Our current lower high appears to be set at 8.80 and the bulls are now looking to set a higher low above 7.71, currently a double bottom. I'm a big fan of this setup so close to our all time high because of the lack of overhead resistance at this level.
We've now spent 15 trading days trading within the entire range of September 19th.
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
HEXO offers the sector's strongest chartHEXO had a huge breakout on big bull volume late Friday, and only has three resistances from here - High of Friday 8.85, 8.95, and all time high 9.09. The day ended with the bulls trying to form an hourly bull flag.
I'm personally looking for a backtest of either the daily breakout level 8.64, or the hourly level 8.55, which will be must hold levels if the bulls hope to consolidate in a healthy manner and continue upwards to test all time highs.
Right now, this is the strongest chart in the sector, but the bulls will need CGC to cooperate in order to see any continuation from a very significant daily bull break. All time high is less than 4% away!
