VFF Healthy consolidation.
Updated
No matter how fundamentally strong VFF Is and how solid their execution is , the overall volatility and psychology of the cannabis markets will effect share price.
Personally I believe VFF to be very well positioned, in a strong position financially and their operational plans are on track for 2018 and 2019.
Short term VFF is in for a tough battle up, overall bulls seem to be exhausted and the bears have been exerting some serious selling pressure both on VFF as an individual stock and the Canadian cannabis market as a whole.
From a technical analysis standpoint VFF has immense potential to retrace back to previous highs and maintain them, this would require the bulls to pick up steam.
I'm looking for industry wide catalysts and also VFF specific catalysts to move this stock. My time frame for the retracement back to $8.50+ is 2 months
Personally I believe VFF to be very well positioned, in a strong position financially and their operational plans are on track for 2018 and 2019.
Short term VFF is in for a tough battle up, overall bulls seem to be exhausted and the bears have been exerting some serious selling pressure both on VFF as an individual stock and the Canadian cannabis market as a whole.
From a technical analysis standpoint VFF has immense potential to retrace back to previous highs and maintain them, this would require the bulls to pick up steam.
I'm looking for industry wide catalysts and also VFF specific catalysts to move this stock. My time frame for the retracement back to $8.50+ is 2 months
Note
Market filled the gap mentioned in the chart. I'm optimistic that we are going to see a retrace up from this current level.Note
As indicated by the chart, the market has filled the previous gap up. This could be the signal for trend reversal.
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