IBEX Medium Cap
NAS SellsNAS - price broke through that last low that was created with momentum pushing past the lowest point (17790) before the highest point (18498) was reached.
That would signify a CHoCH and we are continuing a bearish outlook.
With ICC, after a new low is made in the market (Indication) we can expect a pullback/retracement (Correction), before the continuation.
We will be looking for sells under the 17880 area to the recent lows created (after the correction is completed)
Gold BuysGold breached 2365 and gave us an indication to show that it wants to buy to the 2430 area. This was followed by solid correction to well below the 2365 area, however creating a HL (that area of support at 2330 was not touched, so it held).
Price appears to have concluded that correction, and a break above the 2365 in session, should give us the confirmation that we can buy back to the highs.
NAS ShortBased off Sci's ICC trading concept. Indication - Correction - Continuation
NAS created a new low below 17900 (Indication), then corrected to 18360, which created lower low. With price failing to make a new high/ break the previous highs, sells were possible below 18175 (Continuation) to the low that was created.
Will monitor price in the new week and consider sells below 18020 to the last low, which should be about 130 points.
ICC LABS - Ready for another run ?Dear Traders,
Another stock i'll keep my eyes on this week is ICC Labs, they announced Shareholder Approval of Arrangement With Aurora Cannabis.
Buy volume went up yesterday and there is plenty of ingredients here telling me it might go higher. There is some resistance but with a higher buy volume we should be able to break through it and see a new ATH!
About ICC
ICC is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoid extracts, giving support and promoting responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance with standards for quality and safety.
The weed bubble is coming?There's some nice price action around the weed markets right now and Harvest One is no exception. The most obvious signal here is the RSI divergence forming right now. The price is settling way below ATH, and it needs some retracement upwards! Let's see if we will have a cannabis craze across the board.
This is once again a low risk trade like the one I'm currently holding in Aurora (Check it out!). This is because of the buy indications on multiple timeframes looking at the indicators.
I put in some conservative levels for the careful trader. A conservative buy would be above the yellow line, with a tight stop according to taste. Fib levels above are targets as usual. This is quite a new stock so the resistance levels are quite clear.
The Ichimoku is just waiting to show some level breaking and support forming above this price. The cloud gives little resistance so after a smaller breakout, it's touch and go! Not financial advice though.