Trulieve Cannabis Corp - $TCNNF Chart Analysis
TAKE A HIT OR LET IT SIT
My last chart analysis was meet with pivot targets confirmed, but with this last few days of trading made me go back to the chart and investigate.
Thursday (May 4th) this cannabis ticker (like a couple other marijuana stocks) sold a little more than what I was expecting. This over sold zone would mean that my last 3rd to 4th correction via primary cycle would need to adjust with this new data.
The MACD also confirms, breaking out of divergence, that this is a continuation from the 1st semi-impulse correction.
I was targeting $13 for the correction and TCNNF went to $12.77. The oversold data means my daily semi changes the weekly semi, which changes the interval, thus making new primary cycle data points, yay!
With the alternation/cycle correction taking place throughout the summer and selling off via 5th wave the rest of year. I believe my last floor for this pot stock was targeting $9, but this new theory makes $7.35 as a start to caught this extra weight and $6.80 - $6.30 as the possible floor for a cycle correction.
My last chart analysis was meet with pivot targets confirmed, but with this last few days of trading made me go back to the chart and investigate.
Thursday (May 4th) this cannabis ticker (like a couple other marijuana stocks) sold a little more than what I was expecting. This over sold zone would mean that my last 3rd to 4th correction via primary cycle would need to adjust with this new data.
The MACD also confirms, breaking out of divergence, that this is a continuation from the 1st semi-impulse correction.
I was targeting $13 for the correction and TCNNF went to $12.77. The oversold data means my daily semi changes the weekly semi, which changes the interval, thus making new primary cycle data points, yay!
With the alternation/cycle correction taking place throughout the summer and selling off via 5th wave the rest of year. I believe my last floor for this pot stock was targeting $9, but this new theory makes $7.35 as a start to caught this extra weight and $6.80 - $6.30 as the possible floor for a cycle correction.
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