The Bollinger bands are very tight on ACB right now and we have been building a slope for some time now. ACB already tried to break out once but faced high selling volume. I really do believe this will be an easy trade though. I marked out the following Fib levels as targets. Depending on speed, I think we can see 11 USD again soon. The red line is for refill. Below that is absolute stop.
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Watch this level closesly, $7.10 - $7.20
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My theory is that we will know the mid-term fate of Aurora, and maybe cannabis in the long run, in the next close. This support level is the last one for the whole bull run and this year. After leveling out we might see double digit increases. The Stochastic is just waiting to turn up.
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Bullseye. First bounce :)
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Strong open this week. We got above 300 EMA and the Ichimoku lines. I'm long on this.
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First target reached! Entry and profit 1 was spot on. This will continue
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Slight TK cross on daily Ichimoku. Expecting a move this week. The odds are in favor for a bullish one.
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Retest of Target 1
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Target two almost hit according to plan. Minor bearish divergence on 1h so a break will probably occur to gather more power. This is an almost 30 % trade already. I'm guessing it could rest on previous resistance which is the fib level.
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Target two reached! Vote on cannabis tonight. I may prepare for new ATH. Canopy at upper trendlines aswell.
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Closed on nice level at previous resistance. Fifth wave may reach above. Holding this a while longer.
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New optimal targets: 11.65, 12.00. This would be a third Elliott Wave in that case.
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Wave 3 target 11,09 CAD
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TK Cross on daily Ichimoku, bullish! Cloud resistance at 9,39 holding down. Possible Inverted H&S forming. The flag correction should be done soon. Targets active.
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Reaching overbought on smaller time frames. Small bearish divergence. Prob needs to cool down. The short term positions should consider profit taking for now.