Knifecatching on Aurora
Updated
Aurora is reaching a nice extension from the previous bullish swing and is currently oversold on multiple smaller timeframes. The Stochastic has already crossed bullish at the bottom and bears are exausted.
A minor move to raise the weekly close may be seen today. If not, I will update new targets. The RSI hasn't been low very often this year so a bounce is not unlikely. First resistance tends to be at Kijun (red line).
Smaller bullish divergence already on 1 hour TF.
May be good for long term positioning. Blue line indicates a bullish confirmation
A minor move to raise the weekly close may be seen today. If not, I will update new targets. The RSI hasn't been low very often this year so a bounce is not unlikely. First resistance tends to be at Kijun (red line).
Smaller bullish divergence already on 1 hour TF.
May be good for long term positioning. Blue line indicates a bullish confirmation
Note
Once again a critical level for this weekly close. Small bullish divergence forming on RSI while being very oversold. A minor pump to reset the indicators could occur but as long as it's moving below 8 CAD, this is a risky trade.Note
New buy-in at 6.98Trade closed: stop reached
This was indeed knife-catching with low reward ratio. Next range is 6.20-6.40 CAD for the first wave before the parabolic run in the beginning of the year.Note
Still expecting a strong bounce soon though.The RSI is still holding up for divergence. 7.70-8 CAD will be the target when that happens.Note
The Ichimoku gives indication for a Kumo cross on multiple Cannabis stocks between the dates 21.8 and 27.8Trade closed: target reached
New scale-in below is now in profit after the run up to 10 CAD
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