ACB had a huge day pushing it up 10% on news of billionaire activist investor Nelson Peltz hired as an advisor. I don't think this news is enough to push it back to ATH like a major brand partnership would do. We are pushing into some major resistance on the weekly. Currently there is not enough hype in the mmj sector to push us back up to the ATH.
The TD Indicator is currently on a 10 count. Look at the TD indicator previously on the weekly and see how perfectly it topped on a 9 and bottomed on a 9. Volume has also been steadily declining.
The trade can be closed at the 100 week MA as it's been really strong support. Look at this area for longs as it's a very strong buying zone and ACB is still in an uptrend on higher time frames.
On the flip side if ACB can get above $12 and stay there with a clean s/r flip this trade will be invalidated and closed at a small loss. If this is the case we can open a new trade and go long to the $14 level.
The TD Indicator is currently on a 10 count. Look at the TD indicator previously on the weekly and see how perfectly it topped on a 9 and bottomed on a 9. Volume has also been steadily declining.
The trade can be closed at the 100 week MA as it's been really strong support. Look at this area for longs as it's a very strong buying zone and ACB is still in an uptrend on higher time frames.
On the flip side if ACB can get above $12 and stay there with a clean s/r flip this trade will be invalidated and closed at a small loss. If this is the case we can open a new trade and go long to the $14 level.
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