As much as I like the company, the current price is high. This trade is a basic "Buy the rumor, Sell the news" play.
I shorted at 9.70 and have an exit zone of EMA 26 Low exit trigger and 8.06 as the target cover price.
I will be watching morning volume, price action, and momentum, to confirm exit price.
This also applies to my Stop Loss/Break-even zone should this trade reverse sharply on rumors, speculation or news.
My logic is that ACB likes to settle in around 8 bucks and change, which is a median zone for this stock.
Or in simple terms; I believe the price will swing back to the best fair price the market likes to trade at, the 8.02/8.06 zone.
I don't expect a lot of action over the summer while parliament is out for the summer. But one never knows.
Trading pots stocks is a bit like "herding cats". They just run in different directions without notice. LOL
I shorted at 9.70 and have an exit zone of EMA 26 Low exit trigger and 8.06 as the target cover price.
I will be watching morning volume, price action, and momentum, to confirm exit price.
This also applies to my Stop Loss/Break-even zone should this trade reverse sharply on rumors, speculation or news.
My logic is that ACB likes to settle in around 8 bucks and change, which is a median zone for this stock.
Or in simple terms; I believe the price will swing back to the best fair price the market likes to trade at, the 8.02/8.06 zone.
I don't expect a lot of action over the summer while parliament is out for the summer. But one never knows.
Trading pots stocks is a bit like "herding cats". They just run in different directions without notice. LOL
تم فتح الصفقة:
Trade still active, we seem to have settled into the 9.00 range. Which I expected with the recent purchases that will add value to the companies long-term vision.
With the delay of legalization, I would expect more of a pullback.
Patience is my edge.
With the delay of legalization, I would expect more of a pullback.
Patience is my edge.
أغلقت الصفقة: تم الوصول لوقف الخسارة:
We got an answer, the bulls are stronger on this day.
Trailing SL hit at 9.17
Another good trade.
Decent ROI for a week-long swing trade. 5.5% and R2.5
Trailing SL hit at 9.17
Another good trade.
Decent ROI for a week-long swing trade. 5.5% and R2.5