Just be careful holding. Maybe a few may become huge... But almost all of them are currently way over valued. They are trading on demand for canna stock primarily. As new players enter, most stocks will consolidate even further as demand spreads out among the supply. Along with that, some will completely disappear. Some are already leaving the sector, for example PUGE. This is just my opinion, and I think these are all great trading stocks. But, I'm prepared to move when needed to stay on top of the quickly changing market. Good luck everyone, and I hope some of you took advantage of the nice dips across the board today!
I've been in for about a year. It's anyones guess what will happen, or how to play it really. I just like taking profits on a regular, if not daily basis. That's how I like to play it.... I can't wait to see what happens in the morning! There's a few triple tops in the charts right now... After that CANN run today, we may some some others really run very soon!
You're absolutely right. This is just the beginning.
In technical analysis, the movement of an asset's price within a well-defined pattern or barrier of trading levels. Consolidation is generally regarded as a period of indecision, which ends when the price of the asset breaks beyond the restrictive barriers. Periods of consolidation can be found in charts covering any time interval (i.e. hours, days, etc.), and these periods can last for minutes, days, months or even years. Lengthy periods of consolidation are often known as a base.
Investopedia explains 'Consolidation'
The levels of resistance and support within the consolidation are created through the upper and lower bounds of the stock's price. Once the price of the asset breaks through the identified areas of support or resistance, volatility quickly increases and so does the opportunity for short-term traders to generate a profit.
With that being said.... I highly suggest anyone looking to put money into any stocks, first spend a good amount of time learning the fundamentals of investing! At least the bare basics. There are tons people waiting to take your money! At least be prepared to stop them...
Interesting thread.. Does anybody know of any mj stocks that pays dividends? I'd be interested in those stocks.. Ya know hold long and make passive income.. It's something to think about instead of buying and selling.. Just hold long and make money..
I grabbed some AEGY and SKTO before the merger news came out. Also, some ERBB as well. I think some news will be coming shortly for them as well. We will see what tomorrow brings. I didn't have the guts to put more in on the huge FITX dip today.
All three of those are winners in my book as well. I'm assuming you left off a few letters from ATT... that stock has gone out of control as well! I think that'll be something special
I still haven't made the move yet fellas...but putting my cannabis portfolio together little by little as I get time do do more research. Thanks for participating