Is Hexo good to go ?
Updated
Hexo seems in good postion to test next resistance à 11$61
Pro :
Hexo as found good support on 50 MMA
Hexo has closed today above the 20 MMA.
Breakout of the uptrend channel.
Breakout on RSI 14 and RSI SPX 50
Cons :
MACD looking good but needs to confirm
ATR is decresing
Pro :
Hexo as found good support on 50 MMA
Hexo has closed today above the 20 MMA.
Breakout of the uptrend channel.
Breakout on RSI 14 and RSI SPX 50
Cons :
MACD looking good but needs to confirm
ATR is decresing
Comment
The scenario is still in play. The MACD is now looking good and there is still plenty of gaz on RS on the daily chart.
Two importants news for HEXO
On march 10th HEXO Corp won a complete dismissal of US federal shareholder class action.
On march the 18th HEXO will post results for period ending on january.
There is a strong consensus of analysts who are expecting a clear improvement in revenues.
Comment
Dark clound cover in formation yesterday.10$ represent now an historical and psychological resistance point.
We have found support on the 20 MMA (red line)
Either the 20 MMA is a good support and we will go upward, or If the bearish scenario occure, we will test for sure the 50 MMA (green line) at first support.
We need confirmation this moring.
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