IAN
The reasons why i feel the btc bottom is not in yet.During the dump -
- broke the uptrend line from last year.
- made a lower low on the weekly.
- will likely break the monthly 21 EMA once the monthly closes.
- Close below weekly 200 SMA.
- Broke the .618 fib levels.
If you are long term believer of btc, now is the time to dollar cost average to long term holdings.
Don't try and catch the bottom, cuz you will likely fail. Don't use high leverage when trading this - books are thin, and risk is high as well. All the beest everyone the winter is far from over!
IANTHUS reversing with solid indicators Following the MJ trend been in a downtrend for some time, despite solid fundamentals.
Bullish RSI and MACD cross.
Not an investment advice.
For personal reference.
ITHUF 6/14/19 : BIG bounce play (longer term play)TraderNoxtreme calling out what looks like a good entry.
MJ stock
Looking between 3 and 2.65 as entry if we get there before trend reversal.
ITHUF has dropped about 51% in about 3 months and about 42% since the 23rd of April.
Related to earnings miss on 5/30/19 (appears to be the reason for this leg down):
"The company reported Q1 revenue of $9.6 million, a huge 4,166.7% jump from the $225,000 reported in the prior-year period. This total also reflected a 384% quarter-over-quarter increase, and iAnthus easily topped the average analysts' Q1 revenue estimate of $2.78 million.
iAnthus posted a GAAP net loss in the first quarter of $18.3 million, or $0.15 per share. This was much worse than the $645,000, or $0.01 per share, reported in the prior-year period. It also missed the average analysts' estimate of a loss of $0.07 per share.
However, the company's adjusted EBITDA trended in a positive direction. iAnthus announced an adjusted EBITDA loss of $5.1 million in Q1. This reflected an improvement from the adjusted EBITDA loss of $6.5 million reported in the prior quarter."
"Significantly higher spending. The company increased its head count with the MPX acquisition. It's also done a lot of internal hiring."
Company is growing fast and should be announcing new "Be" store opening in NY in "Fall."
Just hired some big players to operations, marketing and legal.
This would be a longer-term swing. Perhaps a qtr or more depending on the momentum of the move up when it comes. RSI is 20 on the daily (lower now) and 30 on the weekly. Medium risk trade but the sector as a whole has been pulling back so I feel that a negative earnings surprise with overall sector weakness might be providing an optimal entry in the very near future.
Not financial advice as I don’t have the proper certifications to provide you with that.
Like and subscribe for sure!
ITHUF IAN 15 min Count @cyrptoKneeI like the pot. I like the charting sooo.. pot charts are gonna be a thing for me. Looking like an impulse up, is possible. Some Pa Resistance to bust through for the fif. Typical fif fib projections but who knows, could be super extendo fif....could be ending diag.... could be crappy truncation fif... or not even an impulse. TBH its looking a little odd already..... wait.....what was I talking bout?
