Columbia Care Inc. CCHWF - Chart Analysis and Price Prediction
Columbia Care Inc (CCHWF) looks to want to settle the impulse correction and close out the cycle, but will it? While the rest of the cannabis sector looks to pivot near the 8/08 - 8/15 date, Columbia Care appears to be in a great position to not allow it to NOT sink too low.
I still would expect to see a price drop another 23%, but will try and hold it above $1.10. I would hate to assume, but suspect this is a legislation play/bull-trap and will provide some correction, but likely take another turn at going south.
Keep an eye out for spikes in volume that may indicate that there might be more to the storyline... Volume has been on a major decline as more and more investors have just stopped buying cannabis stocks altogether and only leaving MM, APs and HF shorts alike playing with themselves and those playing options may find a surprise if the correction is made. MSOS would have +5 days to cover, potentially squeezing MSOS to start the creation wheel.
I set an alert at $1.17 to start watching a little more closer as we prepare for another significant pivot.
I still would expect to see a price drop another 23%, but will try and hold it above $1.10. I would hate to assume, but suspect this is a legislation play/bull-trap and will provide some correction, but likely take another turn at going south.
Keep an eye out for spikes in volume that may indicate that there might be more to the storyline... Volume has been on a major decline as more and more investors have just stopped buying cannabis stocks altogether and only leaving MM, APs and HF shorts alike playing with themselves and those playing options may find a surprise if the correction is made. MSOS would have +5 days to cover, potentially squeezing MSOS to start the creation wheel.
I set an alert at $1.17 to start watching a little more closer as we prepare for another significant pivot.
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