Replies to post #12377 on American Cannabis Company Inc (AMMJ)

[sleekscape]

I agree.

[Alan Brochstein]

Oversold? The stock is trading at 2.4X its 50-day moving average at .60. This stock won't be oversold for quite some time. It was very overbought - this is why the pros jumped on this and are shorting it. They will continue to do so, driving it to $0.55 most likely.

In April, the stock peaked at .33 or so and lost about 75% of its value. Maybe "investors" in this overvalued company get lucky and it loses only 1/2 its peak value (so $1.05), but I suspect somewhere between $0.50 and $1.00 will be the interim low.

Lots of trapped longs here...