$MSOS Looking to Breakout?

10. Jan.

MSOS is a Cannabis ETF that looks to be basing for the last 4 months. Cannabis stocks have not been on my radar for more than a year. It looks like institutions are getting interested now. Since that appears to be the case, I am interested too.

Maybe this should be on your watchlist too.

See chart for my notations and thought process. I have an alert set right on the horizontal resistance line which lines up nicely with the 18 Month AVWAP.
Should this breakout, I will look to a lower timeframe for an entry with a small risk to reward entry.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

12. Jan.

Anmerkung

MSOS Nice little wedging pattern today on the 5 minute chart with one and a half hours to go. I have a buy stop order @ 8.06 good for the day. If it triggers I have a stop very close @ 7.94. It either goes, if it executes, or I am out.

12. Jan.

Trade ist aktiv

MSOS with about 50 minutes left in the day, this triggered and I'm in a 1/4 sized position (were it not a Friday going into a 3 day weekend, I would have started a 1/2 size.). As mentioned above, I have a very tight stop so lest' see what happens.

12. Jan.

Anmerkung

Here is the chart to go along with my entry.

16. Jan.

Trade wurde manuell geschlossen

MSOS had a great pop this morning so I closed it out when it seemed to be running out of steam for a 10% profit. Back on my watch list. If market as a whole gets positive this may run. TBD.

16. Jan.

Trade ist aktiv

MSOS Now Day Trading This. Will run a trailing stop.

16. Jan.

Anmerkung

I have now moved my stop to breakeven. Let's see if I can make some $$$. Now in no loose position.

16. Jan.

Trade geschlossen: Stop wurde erreicht

Had a hard stop in the computer and it stopped me out for breakeven on the trade. I'll put this one away for another day. Still high on my list.

24. Jan.

Trade ist aktiv

MSOS I re-entered this trade @ 8.80 with a stop at 8.70. It either goes or I am out. Let's see what happens this time around.

25. Jan.

Trade wurde manuell geschlossen

MSOS I closed this trade out for a small gain of 10 cents a share. Still high on my watchlist. Just letting go green to red.