American Green Inc (ERBB)

[nopancakemix]

Solid TA Yaz
Taking a breather is what it's all about right now, technically speaking.

http://stockcharts.com/h-sc/ui?s=ERBB&p=D&yr=0&mn=4&dy=0&id=p51666992872

Here's my short term 4 month chart I like. As we all know MJ stocks are up substantially with ERBB the sleeper hit gaining a whopping 1000%+ since after Christmas. Last night I posted that today was going to be a pullback or parabolic due to the technical pressure and it looks like we got a much needed pullback. Had ERBB gone parabolic today, blowing out the top bollinger band, the subsequent pullback would have likely been much greater. Instead, we got to take a knee and ERBB also held up well against the fundamental pressure of the failed agreement with PARC.

Technically my only concern is the hanging man from today but I think fundamental news will be driving this Thursday and Friday, per Gwyther's comments about announcing other Zazz vending machine locations at the end of the week. There is a lot of pressure to deliver.

Here is what I think short term;
If ERBB has a smashing PR announcing locations, delivery dates or the like you can fugghedaboutit, we're all rich. There's also a variable with the US gubment make MJ friendly announcements. No PR, no good though. That could be a big disappointment. The other thing I wonder about in the Money Runners Group and others taking profits which could slow the rally. I think .023-.025 will be a major wall unless we get a monster PR.