SUGR.CA: Bullish Flag, confirmedBullish Flag, confirmed
Pros:
Post forming with volume
Descending volume during flag forming
Volume at break out
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 4
250RSI above 50
Cons:
200MA Flat
Target:
PT = 0.11$
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SUGR trade ideas
Just an idea ? SUGR Long Trading at a strong level of support with momentum in volume and the recent emergence through the 30 RSI level.
- Waiting on revenue - hopefully end of Q1 early Q2
- Phase 1 of their plan is fully funded
- Cash flow positive - sooner than they would have initially anticipated
- Contracts/partnerships
- Experienced Management & BoD
- Insider ownership at around these levels
SUGR SugarBud Craft Growers CorpTSXV:SUGR
Current price is above both the declining 40 Week MA and 200 period MA.
However, as both these are declining, bounces should not be trusted.
The price is also above the VWAP from the IPO which is positive.
Look for a pullback before making another push to the overhead trend line.
I expect price to consolidate in the accumulation phase before holding above the overhead trend line.
I will continue to monitor this stock and will get more interested in an intermediate to long-term position if the moving averages become aligned across the Daily and Weekly charts.