Updated
ACB Temporary Bottom
It looks like the initial correction is finished, with the first gap closed. Currently looks like a triangle. A bull break now, would probably only occur on news. The broader cannabis industry looks like one final pull back, which would also drag down ACB, possibly for the last time to these levels. It isn't to say that a bear break would send it deep down though. I see potential supports at $11.33, $10.20 and $9.84...
Note
Always... Just when you start to think 'maybe', the market throws you a curve ball.Note
I think up for a confirmation to of the magenta line. Then down again.Note
This kind of wedge can keep playing out, all the way into next earnings... Looks like SPY/QQQ have started the completion of their C wave though.
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🅱🄰🆁🅺🆆🄾🆁🆃🅷
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.