ACB ready to move up
Every single dip has been bought to the extend that supports never gave way. There have been many attempts by bears to bring the price down, but while ACB sustained its levels between $8.75 and $9.20, the RSI has cooled, and the MACD is about to cross over. There is enough strength for a decent higher high.
I got out, the other day, at $9, but when that dip didn't follow through, I was able to take a new position at the exact price where I exited. On reflection, I should have added to my position, but I felt that things looked bearish at the time. It is hard to say what today will bring, but I find the current setup extremely bullish. In addition, ACB has increased its total capacity to over 1M kilograms. That would put estimated annual revenue to around 5 billion Dollars. With CGC trading at 15 times forward revenue, it would seem that ACB is cheap at just 2 times, even if they don't have 3 billion Dollars in cash.
Support is strong, resistance has been exhausted. I am putting ACB on all time high watch, right now.
I got out, the other day, at $9, but when that dip didn't follow through, I was able to take a new position at the exact price where I exited. On reflection, I should have added to my position, but I felt that things looked bearish at the time. It is hard to say what today will bring, but I find the current setup extremely bullish. In addition, ACB has increased its total capacity to over 1M kilograms. That would put estimated annual revenue to around 5 billion Dollars. With CGC trading at 15 times forward revenue, it would seem that ACB is cheap at just 2 times, even if they don't have 3 billion Dollars in cash.
Support is strong, resistance has been exhausted. I am putting ACB on all time high watch, right now.
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