Ayr Wellness Inc -$AYRWF Chart Analysis
Updated
Take A Hit Or Let It Sit?
AYR Wellness seems to be following the overall cannabis index trend, but can this stock light up before the others?
On the weekly chart, Ayr Wellness looks to be almost wrapping up the 5th wave, which I believe will start around $8.11 and possible catch a ground about $7.42 following a cycle correction early/mid May. The MACD has been displaying divergence across all of the 4th to 5th wave, it will be interesting to see if the correction brings a corrected MACD.
I am likely setting an alert around 7.60 to start watching this ticker and see if the impulse correction and bring a good swing play not. After a few of these cannabis charts, a mid May correction seems sector wide, for most US companies, so this (like most) should have a ' proceed with caution ' sign.
AYR Wellness seems to be following the overall cannabis index trend, but can this stock light up before the others?
On the weekly chart, Ayr Wellness looks to be almost wrapping up the 5th wave, which I believe will start around $8.11 and possible catch a ground about $7.42 following a cycle correction early/mid May. The MACD has been displaying divergence across all of the 4th to 5th wave, it will be interesting to see if the correction brings a corrected MACD.
I am likely setting an alert around 7.60 to start watching this ticker and see if the impulse correction and bring a good swing play not. After a few of these cannabis charts, a mid May correction seems sector wide, for most US companies, so this (like most) should have a ' proceed with caution ' sign.
Note
It was brought to my attention that this chart (like other platforms) are missing data from previous ticker change. I was directed to stock charts website and re-valued possible correction around $6.48 - $6.37Note
Semi-correction PT = $6.36? (lost data prior symbol change) -- $5.30 - $4.90 for possible floor and cycle corrections - $4.25 if that fails
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