NBEV, my favourite CBD infused drink!!
As many of you have been following my posts, I am well invested into ACB (favourite CAD pot stock), PYX (favourite USD pot stock), and XRP (favourite crypto coin). Since this post is about NBEV, I will keep my analysis related to the pot market. From a big picture perspective, we are still experiencing bearish sentiments from the legalization day(Oct 17). While many think this is a bad event, I believe that this is Christmas in November for me. Remember the saying "when everyone is fearful, be greedy, and when everyone is greedy, be fearful"? At this point of the market, I believe we are in the "everyone is fearful" sentiment due to most pot stocks and pot relevant stocks crashing past the 71% fib line. This is the time to be greedy for me. I dollar cost average my way down with ACB and PYX. NBEV also share the same sentiments.
On to some basic news or rumour related information, it has been published by many that CBD edibles and drinks will become the NEXT wave for the pot market. NBEV had my eye due to many reasons but since this is tradingview, the stock is supposedly meant to be analyzed from the technical analysis point of perspective. With that said, 2 days ago, NBEV gapped won in price reaching the mid 3 USD price range. As of this writing, yesterday's day candle showed a BEARISH engulfing candle after a bear candle. However, these two candles are sitting on my marked support level. Volume is also decreasing on the daily charts.
From my perspective, I believe there is still so much room to fall because of the decreasing volume and the bearish candles. If you check my chart, I have a golden highlighted region around low to mid 2 USD. This is my safest entry point with the maximum profit potential. Let's see how today (Nov 13) plays out. If a bullish candle shows with adequate volume for today, then I would buy some shares at his region since it would show that it is sitting on a support level. This is not a financial advise. I am simply telling you what I am doing.
I am Balanar, the night stalker. I stalk these charts... day and night!!!!!
On to some basic news or rumour related information, it has been published by many that CBD edibles and drinks will become the NEXT wave for the pot market. NBEV had my eye due to many reasons but since this is tradingview, the stock is supposedly meant to be analyzed from the technical analysis point of perspective. With that said, 2 days ago, NBEV gapped won in price reaching the mid 3 USD price range. As of this writing, yesterday's day candle showed a BEARISH engulfing candle after a bear candle. However, these two candles are sitting on my marked support level. Volume is also decreasing on the daily charts.
From my perspective, I believe there is still so much room to fall because of the decreasing volume and the bearish candles. If you check my chart, I have a golden highlighted region around low to mid 2 USD. This is my safest entry point with the maximum profit potential. Let's see how today (Nov 13) plays out. If a bullish candle shows with adequate volume for today, then I would buy some shares at his region since it would show that it is sitting on a support level. This is not a financial advise. I am simply telling you what I am doing.
I am Balanar, the night stalker. I stalk these charts... day and night!!!!!
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