This is the alternative harvest etf I watch as my cannabis index. Note on the Quarterly the market wasn't able to close below the 10 dollar mark. On the Monthly we are right at the price level we found strong enough demand to gain momentum for the major run up 2 years ago. On the Weekly we have a promising candlestick pattern. and on the daily were finding support at the 11.00 level with a Bullish engulfing candle for Friday.
Fundamentally, if you believe the stock market as a whole is overbought (which I do too), Marijuana, alcohol, and tobacco products make good bear market stocks. People use more drugs, alcohol, and tobacco products during economic declines than they normally would historically.
Fundamentally, if you believe the stock market as a whole is overbought (which I do too), Marijuana, alcohol, and tobacco products make good bear market stocks. People use more drugs, alcohol, and tobacco products during economic declines than they normally would historically.
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I posted a Trade for Canopy Growth Corporation. Check it out on my page!
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Still thinking were about to enter an accumulation phase, momentum indicators plus all my former reasoning is still valid.
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Showing some support now imo. Updated on my profile. Hope you all are accumulating too!
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