Columbia Care Inc CCHWF Chart AnalysisCCHWF looks like it might be coming out of its' shell by having to potential cycle correction that leads not only into an impulse, but doing so with the help of a newly formed Head and Shoulders .
If CCHWF can muster up some more volume on the bid side, the volume profile shows a gap up from $2 - $2.48 with the added potential to kiss $2.63. If that happens, I would assume most investors would notice the Head and Shoulders by this time and pile on making this a real impulse wave.
If true, this might be the first time the cannabis sectors sees a ticker finally break free from the malicious short attacks. If false, expect this to be stunted by a quick "ABC" pullback of original cycle and will sell more with the hope $1.67ish comes in to help provide support for a retest, or if not, will see if the previous low of $1.23 will help out again for support on the way down.
Last chart analysis (July) , I marked one more tiny impulse that showed $1.17 being our bottom, off by .05 -- Posted below.
CCHWF
Columbia Care Inc. CCHWF - Chart Analysis and Price PredictionColumbia Care Inc (CCHWF) looks to want to settle the impulse correction and close out the cycle, but will it? While the rest of the cannabis sector looks to pivot near the 8/08 - 8/15 date, Columbia Care appears to be in a great position to not allow it to NOT sink too low.
I still would expect to see a price drop another 23%, but will try and hold it above $1.10. I would hate to assume, but suspect this is a legislation play/bull-trap and will provide some correction, but likely take another turn at going south.
Keep an eye out for spikes in volume that may indicate that there might be more to the storyline... Volume has been on a major decline as more and more investors have just stopped buying cannabis stocks altogether and only leaving MM, APs and HF shorts alike playing with themselves and those playing options may find a surprise if the correction is made. MSOS would have +5 days to cover, potentially squeezing MSOS to start the creation wheel.
I set an alert at $1.17 to start watching a little more closer as we prepare for another significant pivot.
