CREE - Keep your eyes on this sleeping monsterDear Traders,
Bears were in control for a while but not anymore.
Bulls managed to push this baby quite a bit and now it's time to see how powerful those bulls are. Is this stock going to pierce through the 200 ema ?
RSI is overbought but this is normal which such a run, daily RSI looks sweet.
Let's keep an eye on this one. If the bulls manage to break the 200 ema, we will see a run.
Any thoughts?
Feel free to join my new Discord Channel if you interested in talking to me and others about stocks, info and of course opportunities!
discord.gg
HEXO
HEXO - Time for a new ATH ?Dear Traders,
HEXO looks juicy. Volume and momentum is rising and this could bring HEXO to a new ATH !
HEXO forming a daily equilibrium, just below all time highHEXO is forming a daily equilibrium with a tightening range just under its all time high. Our current lower high appears to be set at 8.80 and the bulls are now looking to set a higher low above 7.71, currently a double bottom. I'm a big fan of this setup so close to our all time high because of the lack of overhead resistance at this level.
We've now spent 15 trading days trading within the entire range of September 19th.
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
HEXO offers the sector's strongest chartHEXO had a huge breakout on big bull volume late Friday, and only has three resistances from here - High of Friday 8.85, 8.95, and all time high 9.09. The day ended with the bulls trying to form an hourly bull flag.
I'm personally looking for a backtest of either the daily breakout level 8.64, or the hourly level 8.55, which will be must hold levels if the bulls hope to consolidate in a healthy manner and continue upwards to test all time highs.
Right now, this is the strongest chart in the sector, but the bulls will need CGC to cooperate in order to see any continuation from a very significant daily bull break. All time high is less than 4% away!
HEXO tight rangeTomorrow, HEXO enters day 5 of the right range from 8.12 support and 8.63 resistance. Breaking this bearish will have us test supports of 7.71, daily MA20 and 6.76. Breaking bullish will have us test 9.09 all time high, and potentially break that. Volume on the break will be my key indication of power and momentum.
