MedMan capitulation and retail shakeout
I do not provide financial advise.
Despite serious declines in Canna Stocks in 2019 looks like MMNFF successfully capitulated and retail investors are being shaked out by institutions. Here's why:
- On macro, long-term parabolic wedge has resolved itself by hammered spring and followed up by SFP bullish candle. Please note this was second largest green candle in history of the stock. Smart money accumulating.
- Volume is picking up.
- RSI bottomed below 30 for a long time. Accumulation?
- Stock still in down trend because Lower High at $0.75 hasn't been taken out yet, but looks like new price discovery is completed at this point.
- For investors with high risk tolerance this is the best entry due to high asymmetrical setup. For conservatives entry above $0.75
- Targets are $1.80 / $2.75 / $3.80
- Stop below last swing low
Despite serious declines in Canna Stocks in 2019 looks like MMNFF successfully capitulated and retail investors are being shaked out by institutions. Here's why:
- On macro, long-term parabolic wedge has resolved itself by hammered spring and followed up by SFP bullish candle. Please note this was second largest green candle in history of the stock. Smart money accumulating.
- Volume is picking up.
- RSI bottomed below 30 for a long time. Accumulation?
- Stock still in down trend because Lower High at $0.75 hasn't been taken out yet, but looks like new price discovery is completed at this point.
- For investors with high risk tolerance this is the best entry due to high asymmetrical setup. For conservatives entry above $0.75
- Targets are $1.80 / $2.75 / $3.80
- Stop below last swing low
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