BLEVF may rise after pot legalization vote in CanadaThere was a vote scheduled earlier this year for legalization which was later rescheduled. Rumor has it that there were not enough votes to pass initially, which may have contributed to some kind of reschedule. This measure is estimated to potentially create a 4 billion annual industry in Canada, and the sentiment is that it will pass over the next few hours.
BELVF fell hard after the prior vote was rescheduled, resulting in a nice boost in volume and a recovery in May after bouncing off of it's mid/long term ascending trend line (in light blue on the chart). We have since seen a consolidation over past weeks in what I think is an anticipation of a positive outcome on the ballot. I expect a rise as per the charts with some stops/consolidations/tests of resistances and fib levels on the way up.
