CGC Daily Review
1/28/2020
The question yesterday was "is the market trying to tell us something with the Doji on an important number." The answer is YES.
After being thoroughly rejected by EMA20, price gapped above it at open, quickly closed the gap and it was off to the races. CGC closed at HOD, up nearly 11%, and back above the previous support "zone" at $23.60
While the last two days were ugly, the bull thesis was never invalidated. That being said, if price falls back below $21.56 for any reason, be protective.
Expect resistance around $25.00. Note the next three days have a great deal of significance for the Monthly chart. Bulls are positioning to close strong.
NO GUESSING!
The question yesterday was "is the market trying to tell us something with the Doji on an important number." The answer is YES.
After being thoroughly rejected by EMA20, price gapped above it at open, quickly closed the gap and it was off to the races. CGC closed at HOD, up nearly 11%, and back above the previous support "zone" at $23.60
While the last two days were ugly, the bull thesis was never invalidated. That being said, if price falls back below $21.56 for any reason, be protective.
Expect resistance around $25.00. Note the next three days have a great deal of significance for the Monthly chart. Bulls are positioning to close strong.
NO GUESSING!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.