Is Hexo trading in another descending triangle / bear flag?I am dubious as to why Hexo doesn't have cannabis beverages on shelves in Quebec where "only" Hash & Cannabis Beverages are allowed as 2.0 products, or elsewhere in Canada when they have a Alcohol company like Molson backing them & involved in a JV via Truss?
I just don't see why this pattern would play out bullishly when the company is diluting shareholders & raising money below the trading price?
Does Hexo have a trick up their sleeve that will surprise the market besides overpaying for the Newstrike Brands buyout & growing unlicensed Cannabis, I think so, but it's not a surprise for the Hopium addicts, be prepared for more disappointment as Hexo slowly bleeds into the penny stock range where they started & belong!
The 200 Day MA doesn't want to let Hexo break above it, very note worthy as the RSI looks like a H&S & Hexo has created nothing but lower lows since my previous chart linked to this one.
Molson
TAP molson coors potential bearish shark patternTAP has all the requirements to be a a bearish shark harmonic pattern except for point D has not been met yet. TAP has also broken out of its 2016 downward channel after making a double bottom. The neckline of the double bottom is currently being tested as confirmation. Plenty of momentum on the weekly timescale for TAP to continue to point D. A short sell at point D with a tight stop loss provides the best r:r of the harmonic pattern.