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AC8

0.00%

4.0¢ auscann group holdings ltd

Thanks for the reply. I appreciate that you can see the current...

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jon6105

104 Posts.

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13/05/19

23:07

Post #: 38546159
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Originally posted by Syadyppah: ↑

@jon6105 Cheers for posting. I also look for divergences as bullish reversal signals. Weekly you may be correct as with all TA it's mostly probability based. I personally look for volume along with chart confirmation patterns for signs of any major trend reversals and although there has been a significant uptake of new volume being absorbed due to Escrow selling I am presently not convinced the current downtrend will not re-test the $0.20c region due to external macro instability and time frame of Co profitability . Also the buy side has significantly re-staked of late which (may) be a nice position to sell remaining Escrow and re-test the previous low.

Without a decent catalyst (profit based, binding supply contracts or a killer MOU) I see this current SP likely now range bound and a potential sideways consolidation period with varying weeks of shakeouts and fake runs.

Good luck and keep posting.

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Thanks for the reply. I appreciate that you can see the current divergence I am looking to trade and I would like to confirm that this is only for a swing trade and I do not currently know if the trend is over but an opportunity has presented itself here. My stop is very tight on this one but I can see a short term upswing coming. Keep me updated with your insights, Cheers

AC8 Price at posting: 36.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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