ACB Trendline Bounce Trade
Updated
ACB appears to be in a good buy spot here- This stock along with many of the marijuana names have been beaten up in the last few weeks/months.
The price is on/near the diagonal bullish trendline it has respected for a long period. Although it is not the strongest of trendlines with only 3 real bounces. I do think the risk meets tbe reward here.
Im looking at a trade just under 5:1.
Close any weekly candle close below the trendline. Take profit at the moving average. If it breaks the moving average in a strong way I will update my price targets.
Happy Trading :)
The price is on/near the diagonal bullish trendline it has respected for a long period. Although it is not the strongest of trendlines with only 3 real bounces. I do think the risk meets tbe reward here.
Im looking at a trade just under 5:1.
Close any weekly candle close below the trendline. Take profit at the moving average. If it breaks the moving average in a strong way I will update my price targets.
Happy Trading :)
Trade active
Good news almost took us there- sold off but our trade is in the profit. Rules remain the same.
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