$RIGH – Channel Your Inner Beast!
We all know RIGH has been a beast of late - that’s why
we are happy to be trading her! Up as high as 3,500%,
she’s been green 5 of the past 6 candle sticks – and just
like any good thoroughbred, she was due for a breather.
Does this mean RIGH’s run is over? Far from it, IMO.
Compare RIGH vs. her industry peers. Let’s look at her
last 6 candlesticks vs. yesterday’s percentage gain or
loss and RIGH’s peers:
HSC* CA Mcap $19M ……………………5 of 5 green, last red, down 20%+
MDB* CA Mcap $412M …………...1 of 5 green, last green, up 3%+
MWI* MI Mcap $13M …………….1 of 5 green, last red, down 12%+
NVL* MD Mcap $103M ………………2 of 5 green, last red, down 4%+
PHO* CA Mcap $235M …………4 of 5 green, last red, down 3%+
TRT* CA Mcap $62M …………..3 of 5 green, last red, down 7%+
CBI* CO Mcap $134M ………………..3 of 5 green, last red, down 20%+
MJN* CA Mcap $284M ……………1 of 5 green, last red, down 5%+
EDX* AZ Mcap $56M ……………….2 of 5 green, last green, up 31%+
ERB* AZ Mcap $58M …………4 of 5 green, last red, down 9%+
GRN* NV Mcap $62M …………..2 of 5 green, last red, down 12%+
HEM* NV Mcap $222M …………3 of 5 green, last red, down 26%+
RIGH CA Mcap $9M ……………5 of 5 green, last red, down 23%+
Sector Avg MCap $75-$100M
The overall MJ sector, well… sucked yesterday! As you can see, RIGH wasn’t the only MJ stock to take a hit! In fact, 6 pot stocks had double-digit losses, 3 performed poorly, just as RIGH’s losses.
Let’s zoom in closer. Count the stocks that performed the best over the previous 5 trading days? Only two, RIGH and HSC*! Make a mental note: which two stocks have the lowest MCap in the sector.
So where does that leave RIGH? Is the weed sector crushed and ready for further pullback? Pee lback the onion, most would say pennies do not follow the overall market day-to-day. That is true! However, pennies do follow major trends and when markets pull back (or correct, as they have in the DJI, Nasdaq, S&P, etc.), naturally most stocks take a hit (*less trout, most fish don’t swim well up rolling rivers).
So is it panic time in RIGHville? I say, “far from it!”
The over markets are in uptrend!
The sector is ripe with daily and major news!
Then there’s the little thing called candle sticks! Take a deeper look at anyone of the 16 pot stocks above. Notice the similarity in the charts. If you take a ruler and draw a circa 45 degree angle under the bottom of the “trending” candlesticks of each stock, you will note most MJ stocks have pulled back to their correction/trending line and are poised to bounce, thus includes RIGH!
RIGH’s trend continues up, IMO. Just like the rest of the sector! Just like the rest of the market! Ask yourself, which stock has the most-percentage gain possibility of the group (according to MCap)? There’s only one that stands out! RIGH!
These are my opinion. Please conduct your own DD before trading.
