LEAF
GLDFF Golden Leaf HLDGS LTD, Massive Gains! MMJ Rush?keeping it simple.
It seems to have bounced higher then the previous low and has been squeezing long on the WEEKLY.
This is bullish in the MMJ market at the moment, and has been over looked due to the mainstream stocks.
They have a positive revenue report.
I dont see any sell signals currently, just a small pull back to retest the higher levels, with possible breakout. This is a long hold for me, as Ive played the regular MMJ stocks already and some are just too far up as it is.
Momentum is also bullish.
Happy trading, debating and speculating! FOLLOW FOR UPDATES, and check out my other crazy accurate charts, including the only Tilray chart before it blew up 400%.
Will LEAF cross the upward trend?MedAs we can see, TSX:LEAF is approaching the wedge, where the upward trend line meets the current downward. There is where it will have to find support. The drop after the hearing that nearly lost, didn't help the situation. Hopefully we can see a reversal at that point.
New heavy support, upward consolidation.On this Friday's chart, you can see that we have bounced off the light support line and closed above to a nice little upward consolidation right in the middle of the channel. The main support at 18.66 is now confirmed as heavy support. Today's final candle closed with a slight green hammer, which could indicate a positive Monday open, taking us towards 18.69. If we can't bring in some volume however, this could turn into a giant bull flag, and stop loss should be in place at ~18.70.
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Well, That was a reLEAFAlthough there was an indication that it was going to re-test support as I mentioned, it retraced further than expected, but it respected the heavy support line drawn on the previous chart. Support remains the same, however, new support and resistance lines have also been established to indicate new windows. We closed today with a green indecision candle, so we cannot assume that it will for surely go up on Monday. If we do bounce off of this support line, we should be headed back up to where the MACD's cross resistance. If it drops down below, we may see a re-test as low as 18.00, but hopefully the bulls catch at 18.35.
Do you beLEAF this?Over the past few days, we can see that LEAF has been trailing it's rivals slightly, although it is strange that we didn't see more of a consistent breakout, considering we just saw a head and shoulders pattern, followed by a bull flag. It seems as though we might see a retest of the 32.8% fib retrace line to confirm a bullish trend.
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Broke the looming down trend channel.We are holding a steady pace upward, exiting the downtrend finally, with a head and shoulders pattern finishing above the 0.236 retrace and past the downtrend channel. Closing in the red, just below the resistance line, it will be interesting to see if the H&S was a true indication of a bullish trend forming, or is that a bull flag I see directly after it? Confirmation above the resistance line at 20.09 and it should be pretty clear at that point. If it doesn't confirm, it might have been a bull trap, and it will probably re-test support at ~18.75. Hopefully we can make it past and collect the spread until the next stop at ~23.80.
