Terrascend Corp. Cannabis ($TRSSF) Chart Analysis
TRSSF Chart Analysis
On the weekly chart, TRSSF is currently in a '3-4' leg, forming a triangle wedge, looking to follow through to close out the primary cycle. As prior prediction on March 10th, (sorry, couldn't find my past screenshots to attach, but can be posted in comments?) the stock price seems to want to behave in similar manner towards my chart.
I believe $6.06 was the last reach before the pivot and descending move that triggers the 5th wave. As charted, the correction running-flat is also shown with divergence within the MACD. The volume profile starts to look like a blackhole once this area of support is lost. $4.10 - $3.90 appears to show a sign of hope, but I see $3.30 area being more effective, although I feel this downward trend of selling will continue due to the massive support underneath.
The selling might continue, filling the void of lost volume form previous timeframes where $2.50 looks like prime real estate before returning to the POC.
On the weekly chart, TRSSF is currently in a '3-4' leg, forming a triangle wedge, looking to follow through to close out the primary cycle. As prior prediction on March 10th, (sorry, couldn't find my past screenshots to attach, but can be posted in comments?) the stock price seems to want to behave in similar manner towards my chart.
I believe $6.06 was the last reach before the pivot and descending move that triggers the 5th wave. As charted, the correction running-flat is also shown with divergence within the MACD. The volume profile starts to look like a blackhole once this area of support is lost. $4.10 - $3.90 appears to show a sign of hope, but I see $3.30 area being more effective, although I feel this downward trend of selling will continue due to the massive support underneath.
The selling might continue, filling the void of lost volume form previous timeframes where $2.50 looks like prime real estate before returning to the POC.
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