My Brief Analysis on HEMP: The charts are showing a slight downtrend but have a major bounce play being formed with a reversal that is why I've been saying the charts look solid. This is not a weak chart what so ever. The RSI is sitting right above 30 which is in perfect position for an overturn on the red candles. The 50MA is high at 1032 while the 200MA is down at 0527. We have a lot of room to move up before any heavy resistance lines. IF we do drop under .06 which has been our constant support all last week, we will see a massive bounce off of the 200MA. I cannot say this enough, I advise to NOT sell when approaching the 200MA. That is our main base support and we will most likely not break through it; most often we see a bounce once it's approached. As far as the candle patterns we will most likely see a large white handle if this is gets dropped down to .055, that is our support line before the 200. I don't see this dropping any closer to the 200MA than that unless there is massive selling, if there is we will still see a nice bounce off of the .052 area. The current PPS and chart play has tremendous positive room and not much negative, so an overall view would be to hold to not miss the bounce or reversal. Don't be fooled by the "bashers" and posts stating this stock "looks bad etc etc" without stats to prove their points because most often they don't have any its just "nonsense".
As for my trading, I am a day trader so I play the swings, bounces and spreads. This stock has been a money maker for me and I am constantly going in and out. Hope my analysis helped. Feel free to ask questions.
For the few members who questioned why I thought this stock looked good, my reasons are above. Good luck to you.
