One of the most active stocks today is a cannabis stock trying to break out of Memory resistance!
CUE 360° analysis summary
$ACB is relatively new stock and its performance may be decided more by its own strength than by anything else. The stock is breaking out of resistance and is outperforming the market. It may give a Go With Flow long setup today which will also be a Breakout long setup.
I am sharing it as a possible technical trade setup. The stock is relatively new. Its performance may be decided more by its own strength than its industry as a whole (unless cannabis related regulatory news is expected that may move all the cannabis stocks as a whole).
All the snapshots are taken around 10:10 AM EST 26th Feb 2019, Tuesday. Numbering in the text below follows the marking on the pictures.
IMPORTANT: As the price may move up or down during the day, you may confirm a swing trade setup at or near market close.
CUE Technical Analysis
Weekly Backdrop chart template.
1) Weekly Backdrop candle color is bullish (cyan).
Daily Entry chart template.
2) Daily is bullish in terms of Swing indicator (which means the stock is in an uptrend with higher highs and higher lows). The stock is also above the white and yellow Direction lines, confirming the uptrend further.
3) ACB was inside a triangle pattern formed by Resistance and Support Memory trendlines.
4) Today the stock is trying to break out of the triangle pattern, to the upside. Daily Flow candle color is cyan. This is signaling a Go With Flow trend following long trade setup.
5) Relative Performance is sharply tilting up, showing that ACB is outperforming the market.
Miscellaneous.
6) Today ACB has positive news related to the increase in its production capacity.
7) It is also one of the most active stocks today in the USA market as of this time.
1) Weekly Backdrop candle color is bullish (cyan).
Daily Entry chart template.
2) Daily is bullish in terms of Swing indicator (which means the stock is in an uptrend with higher highs and higher lows). The stock is also above the white and yellow Direction lines, confirming the uptrend further.
3) ACB was inside a triangle pattern formed by Resistance and Support Memory trendlines.
4) Today the stock is trying to break out of the triangle pattern, to the upside. Daily Flow candle color is cyan. This is signaling a Go With Flow trend following long trade setup.
5) Relative Performance is sharply tilting up, showing that ACB is outperforming the market.
Miscellaneous.
6) Today ACB has positive news related to the increase in its production capacity.
7) It is also one of the most active stocks today in the USA market as of this time.
5 comments:
Beyond its entertainment value, the Watermelon Game offers a few surprising benefits.
$ACB is one of the most active stocks today, Among Us indicating significant trading volume and interest from market participants.
It’s exciting to see $ACB breaking out of resistance! For a different kind of excitement, check out retro bowl—an addictive, nostalgic football game that’s sure to entertain!
ACB's breakout attempt signals exciting potential for investors, with strong technical cues showing promise. If you're a fan of fast-paced action, this stock might be a ride worth taking! And speaking of thrilling rides, don’t forget to check out Snow rider, where winter adventure awaits at every icy turn!
It’s fascinating to see stocks breaking through resistance levels. When considering investments, it’s crucial to balance technical setups with fundamental strategies. For instance, diversifying with safer options like book editing services investments can complement higher-risk trades like this one.
Post a Comment