Guys, guys, guys can't we all just get along here? Let's spark one up and just chill out for just one second!
I think that the click bait-esque "Pump and Dump" thread title has rubbed some people the wrong way. Firstly, let's just clarify that there's no denying the huge upside potential of $CANN and NOBODY (not even @sisyphus.climb) is claiming that $CANN are a "pump and dump" company, lacking substance or long term value. Whether or not the recent ..erm.. "run up" was orchestrated by management, or just a chain of coincidentally convenient events is up for debate, but either way... it doesn't matter as the outcome on SP was still the same.
When looking at the RSI chart it's easy to see that the two peaks in buyer volume (circled in blue - 80 /75 respectively) both occurred off the back of *catalyst* announcements (the first confirmed, the second speculation) and were then followed by sell-offs (yellow trend line). This may seem pretty obvious as all run-ups are followed by some form of profit taking, however it is interesting to note that the recent peak in SP hasn't sold off as quickly due to buyers holding in hope of an acquisition bid (despite at this point only being speculation).
Given this, I pose the following question for consideration; How many of these holders are new "$3.50 buyers" looking to take a quick profit scalp (which they very well may have already missed) and how long are they willing to wait on news before exiting their positions (as obviously the long's are holding regardless)?
IMO the estimation of the $CANN SP in the near term future is anybody's guess and hugely dependent on whatever news (or lack there of) is released in the coming weeks. Therefore I think listening to price estimates from anybody at this point in time is somewhat useless (unless you've received some foresight from Cheech or Chong that you'd like to share with rest of us).
