Why ICBU went from good to GREAT BUY
Since my last post "The ICBU post that will blow your mind" some may be wondering what my thoughts are or if they are still the same. I can say not only are they the same, but even better. The reverse head and shoulders I spoke about forming over the last 2-2.5 months is still in tact and actually right at its right shoulder bottom. I made a similar comment in my earlier post that we had formed the right shoulder however I admit I was wrong (this is something we all need to admit to ourselves sometimes). BUT I was wrong for reasons that absolutely positively DON'T relate to ICBU the company, let me explain.....
Since that post 2 things have happened, one related directly to the marijuana sector and two, the overall market itself. Since the CANN halt which did take place before my post, the pot stock sector started to roll over hard. Volume dropped for the whole sector as the market came to grips with the CANN halt and decided it wants more clarity before proceeding with pot stock investments. It didn't happen immediately, took a few days and its the biggest reason why ICBU has sold off since my post. This is something nobody can predict, sector interest or the lack thereof because of a one time event that has nothing to do with ICBU or any of the other pot stocks. Do I think this is the one thing that "pops the pot stock bubble" I absolutely do not. CANN will resume trading on Thursday morning and when the SEC has zero evidence of selling restricted shares into the market by the insiders of CANN the pot stocks will rally hard. The market is looking for clarity on this situation and once that happens we will see strong pot stock rallies. There are plenty of people and money managers out there that missed the huge rally in the 1st quarter and there will be a bid albeit selective but the bid will return.
ICBU is now setup perfectly as it was wrongfully sold during this fear driven time since the CANN halt, also the overall market has gotten crushed since last Thursday, people are selling everything not just pot stocks, that also will subside. When you see people selling and asking questions later you need to be in there buying.
Here is why ICBU is now a screaming buy rather than just a good buy, pot stock sector strength should return by later this week once CANN resumes trading and we inch closer to national pot day (4/20), the overall market is a little oversold short term and should begin to find its footing, ICBU's technicals are now also more oversold than at any point this year if you look at the RSI's, and finally if you look at the PR's we have a looming acquisition in the pipeline with the letter of intent on looms and bloomz. That is your catalyst that's particular to ICBU that will set this thing off like a bottle rocket on the 4th of July.
And when all of the momo's(momentum traders) see how cheap the valuation is relative to the rest of the industry they will push thing further and faster than you could ever imagine. Remember making the right investments is like a poker game, know thyself and know thy opponent and you will be a step ahead of them positioned perfectly for their next move.
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