New Channel, Support & Resistance using Fib Retracement
You can never go wrong with using Fibonacci falling in line with human psychology and the universe itself.
Major support zones hit on the fib lines, with obvious resistance levels that are ready to break. Initial flag pattern had broken down, potential flag pattern support highlighted with lower purple line. Pinch is inevitable.
Q4 earning should be released early March. Expecting the recognition of their 2.8mil contract, in addition to their typical 1.5mil recognized from smaller contracts.
Surge in volume on positive earnings and continuation of the favorable cannabis landscape (feds and states), can push this to retest their recent high around .21.
If SRNA breaks that on good volume, then it is blue skies.
Major support zones hit on the fib lines, with obvious resistance levels that are ready to break. Initial flag pattern had broken down, potential flag pattern support highlighted with lower purple line. Pinch is inevitable.
Q4 earning should be released early March. Expecting the recognition of their 2.8mil contract, in addition to their typical 1.5mil recognized from smaller contracts.
Surge in volume on positive earnings and continuation of the favorable cannabis landscape (feds and states), can push this to retest their recent high around .21.
If SRNA breaks that on good volume, then it is blue skies.
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