AdvisorShares Pure Cannabis ETF - $YOLO Chart Analysis
Updated
HIT IT OR LET IT SIT?
AdvisorShares Pure Cannabis ETF (YOLO) on the weekly chart shows dirty bong rips leaving long investors mad their not getting the high they want.
Not going lie, this chart made me scratch my head, until I brought the monthly candles and it started to make since as it appears who ever is shorting this ticker, must be working on a +T25 (*winks)...
MACD isn't showing any divergence, I would assume it is being held off until correction time, which could push a little confusion on the retail investors timing their entries or exits.
I would expect a small amount to still shed off current price action as I feel $7.53 will start to catch and likely start the semi correction and pivot before the last sell off, which as most cannabis stocks, looks to sell off end of May into the summer and reground in Aug. Likely seeing $6.37-ish
AdvisorShares Pure Cannabis ETF (YOLO) on the weekly chart shows dirty bong rips leaving long investors mad their not getting the high they want.
Not going lie, this chart made me scratch my head, until I brought the monthly candles and it started to make since as it appears who ever is shorting this ticker, must be working on a +T25 (*winks)...
MACD isn't showing any divergence, I would assume it is being held off until correction time, which could push a little confusion on the retail investors timing their entries or exits.
I would expect a small amount to still shed off current price action as I feel $7.53 will start to catch and likely start the semi correction and pivot before the last sell off, which as most cannabis stocks, looks to sell off end of May into the summer and reground in Aug. Likely seeing $6.37-ish
Note
[edit]-- * The MACD is showing some small divergence on the weekly and does show some true colors (divergence) via daily -- this will continue as we near completion via primary wave
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.