🚨
$MSOS $HITI $TCNNF
🚀 Cannabis 🚀 update, the sector started to move since the FDA approval to Schedule III.
This is bullish for the cannabis companies as they will have some relief on taxes and this will improve their profitability and cash flow.
Let’s dive in with my picks on the technical side.
$HITI micro cap
Daily chart :
This is looking bullish to me, orange cloud ==> a big move announcement.
The RSI is curling up and the selling pressure fading.
A reversal signal printed and if we close today’s candle above yesterday high we got a confirmation.
The retest of the trackline support was perfect 👌.
$TCNNF small cap
Daily chart :
I was expecting a move to support at $12 but it went a little dipper than that.
Right now it’s showing that the dip is getting bought and I would like to see a close of the day above $12.
$MSOS ETF
4H chart :
I am heavily positioned here as I believe the sector will perform very well this year.
The reversal didn’t confirm and that is really bullish.
We will have a sideway consolidation until the MA’s and trackline catch up.
That will form a range and once we break this range we will pump hard.
Other all the market reaction was expected and a good thing.
I have a theory that the market reverse around FOMC.
So let’s get some dip and sideways before we reverse up next week.
PATIENCE
NFA/DYOR
#Cannabis #FOMC #stockmarket