ICNAF - Growing Vol ? New breakout ?
Updated
Dear Traders,
ICNA had a new run and retraced a little bit before finding support at the 55 ema (which was expected).
I traced a red support line and a green resistance line which will help us figure out when a breakout upwards or downwards will occur.
Right now our price as bounced off the 55 ema, with a volume that is building up, this could mean we will see a rise in the price this Monday.
If the bulls buy the resistance at the 0.386 fib level we might get another run which will, in my opinion, create a lower high. The 0.5 fib level might stop our run, but with enough momentum and vol we could break through it. Let's see what happens on Monday.
Latest news:https://globenewswire.com/news-release/2018/10/04/1601287/0/en/Integrated-Cannabis-Company-Inc-Announces-Positive-Results-from-Clinical-Study-of-X-SPRAYS-Sleep-Product.html#.W7YF8IT8pI8.twitter
''Integrated Cannabis is pleased to announce the successful completion and positive results of a controlled trial of its proprietary Sleep product.''
ICNA had a new run and retraced a little bit before finding support at the 55 ema (which was expected).
I traced a red support line and a green resistance line which will help us figure out when a breakout upwards or downwards will occur.
Right now our price as bounced off the 55 ema, with a volume that is building up, this could mean we will see a rise in the price this Monday.
If the bulls buy the resistance at the 0.386 fib level we might get another run which will, in my opinion, create a lower high. The 0.5 fib level might stop our run, but with enough momentum and vol we could break through it. Let's see what happens on Monday.
Latest news:https://globenewswire.com/news-release/2018/10/04/1601287/0/en/Integrated-Cannabis-Company-Inc-Announces-Positive-Results-from-Clinical-Study-of-X-SPRAYS-Sleep-Product.html#.W7YF8IT8pI8.twitter
''Integrated Cannabis is pleased to announce the successful completion and positive results of a controlled trial of its proprietary Sleep product.''
Trade active
As anticipated, a breakout occurred.Now let'see if our green dotted resistance line will be breached or not. I am still expecting a lower high.
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.