MJ volume not high enough...
Cannabis stocks have been gaining from the start of this week.
Technical analysis
RSI has been trending upward, but OBV has not, creating a bearish divergence. /Bearish
We saw the same three candlesticks ending on November 21st, 2019, leading to a strong pullback. (Red circle drawn in chart). /Bearish
Fundamental analysis
Since May 2019, cannabis stocks have been shorted creating a downturn for the whole sector.
Many of the biggest companies are undervalued. But stocks can stay undervalued longer than we can accept our losses.
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Keeping on a close watchlist.
Technical analysis
RSI has been trending upward, but OBV has not, creating a bearish divergence. /Bearish
We saw the same three candlesticks ending on November 21st, 2019, leading to a strong pullback. (Red circle drawn in chart). /Bearish
Fundamental analysis
Since May 2019, cannabis stocks have been shorted creating a downturn for the whole sector.
Many of the biggest companies are undervalued. But stocks can stay undervalued longer than we can accept our losses.
-----
Keeping on a close watchlist.
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