Replies to post #8048 on SLEEKSCAPE'S 2022 CANNABIS & MARIJUANA MANIA GRAND

[VERAX]

Will MJTK continue it's up ward move today or continue to consolidate?
Here's what I see.

1. Daily chart. Yesterdays red candle shows me two things.
a. The long tail shows investors were bullish and willing to
purchase stock at higher levels

b.daily candle body closed in the upper half of the prior days candle. I consider that bullish.

c. Yesterdays candle set a higher high.

d. We are still trading out side of the upper Bollinger band.

2. 60 minute chart.

a. 60 minute chart show MJTK holding support at the pivot. I consider that bullish

b. The last candle of the day closed above the 8 EMA. Bullish

c. looking at the Fib... Closing at the pivot was a 38% retrace. That means the current trend leg remains in tact.

d. Also RSI was able to reset.

So, what does all this mean? We will have to wait and see how the MMs open this. Will they gap us up again and then backfill. Will we open flat? Will we hold support at the pivot. Todays candle will tell us much. As some have stated we could have a very nice day. The MMs have several options here. imho. I hope todays candle closes at least in the top half of yesterdays candle. Could they take us lower? Sure.

My plan for this morning is to mark the high and low of first 30 min. then watch for what the MMs do after 9:30. I'm not sure we will know until then or even later. I'll be watching volume and whether we are hitting the bid more or ask more. But that's my game plan. Keep in mind that over all. MJTK is very bullish. JMHO