An interesting open, which recovered
An interesting open, which recovered last night”s spike down, but didn”t reverse the trend back up. Meanwhile, not much noteworthy price action among MJ stocks this morning — just more of the same. I posted the following observations in the previous thread.
First, let”s switch things around a little this week. Livedesk will be tomorrow instead of today, and then also Thursday morning since there is no Unlimited this week. But don”t hesitate to add your requests for chart analysis to this post”s thread.
MCIG — I would caution that MCIG still has an attraction to .2405 outstanding, and delaying its test has only formed a Descending Triangle that makes .2405 less likely to hold as support when first tested. Closing first above .29 could avoid the fresh lows.
TAUG — Bouncing a little, and might be a compelling long-entry above .0216. But otherwise indicating fresh lows ahead at least to .016.
GWPH — Weak on expanding volume, testing its 87 support. Last week”s tests of 91.50 already had undermined buyers, so this initial dip needs to reset and resume the rally quickly to avoid gaining traction into a bigger decline.
