Jushi Holdings Inc. ($JUSHF) Chart Analysis
Updated
Take a Hit or Let it Sit?
On the weekly chart, Jushi Holdings Inc. (since the recent correction) as been taking some dirty bong rips as the price continues to sell down +45% from prior Feb. highs.
The correction failing to new highs leads me to believe Jushi will follow suit and sell off to previous volume support. If we take the high and low of the correction and place under the breaking point where the correction ends and the pivot downwards starts, it coincidently displays possible 5th wave ending right on the support zone of the last time volume was traded in that price range. Notedly, the resistance (now support) of last price range shows possible $1.75 before catching the full weight of this sell of.
With a slight chance of a big swing with next correction, I wouldn't hit this joint and might not for a while. I will set alerts for $2.20 to start watching again to see if a possible reversal of trend/impulses can be benefited from at that point.
On the weekly chart, Jushi Holdings Inc. (since the recent correction) as been taking some dirty bong rips as the price continues to sell down +45% from prior Feb. highs.
The correction failing to new highs leads me to believe Jushi will follow suit and sell off to previous volume support. If we take the high and low of the correction and place under the breaking point where the correction ends and the pivot downwards starts, it coincidently displays possible 5th wave ending right on the support zone of the last time volume was traded in that price range. Notedly, the resistance (now support) of last price range shows possible $1.75 before catching the full weight of this sell of.
With a slight chance of a big swing with next correction, I wouldn't hit this joint and might not for a while. I will set alerts for $2.20 to start watching again to see if a possible reversal of trend/impulses can be benefited from at that point.
Note
definitely hit my PT @ $1.73 (calling $1.75) -- this sold a little faster than expected, which leads me to believe this the 5th of the cycle, but 3rd on the super-cycle. Meaning this will correct soon, but will likely be a 3-4 via super cycle to bring this down yet again
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