AMMJ TA:
AMMJ has been on a tear. Trading about as well as a stock can trade.
1. AMMJ is over extended in all the longer time frames. Meaning candle is outside the upper Bollinger band.
2. Shorter time frames are showing sideways action.
3.Bollinger bands in 60 min are beginning to round.
4.AMMJ showed .2861 to be resistance on Friday.
5.AMMJ has gaps .2640, .2087, .1945 Gaps tend to get filled.
6. AMMJ is needing a reset.
7. MMs can do about anything at open. I would be looking for a retrace/pullback at this point. I'm not saying we couldn't pop to .2953. I saying I think a pull back on Monday is likely and would keep an eye on Those gap areas I posted. I can't tell how much of a pull back we experience. I'm expecting a potential 50% retrace because that fairly common. Notice the 50sma at.21.
AMMJ is an animal. I just think it's going to find a level of support and work that area a bit before it goes much higher.
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