I actually would like to see MSOS move upwards. The only thing that has me worried is this ascending wedge that is pretty obvious. Classic move downwards to the .786 Fib around $6.28 range. The only thing that would catapult it up would be the reclassification to Schedule 1. I would like to see it break and test the ~$12 area. The is not trading advice, just...
Were in up channel, long consolidation, but I believe we are seeing potential to make some gains. There is clear rotation from cad LPs into MSO, I expect MSO to do well until earning season begins. May 08-09
MSOS loves bouncing off that trend line. I bet you it'll happen right when DEA reschedules. Because the market is a bit*ch like that. Smoke more weed. Flying to Chicago today, never been.
Predicted this a month ago and have been buying this tickers up. News came out yesterday and the chart told the story earlier.
Well its about time, the news we've been waiting for is here. Hold on tight.
Double top or can this turn into a double bottom? I have the strange feeling that the DEA may not reschedule due to lack of data or some other bs lame reason. If this happens, I can see this double top playing out and stock dropping back down to the $4-$5 area. If the DEA does reschedule marijuana - I can see a double bottom playing out from neckline and stock...
Ready to bounce from the lower trendlind. I'm expecting a strike above $10 $Descheduling should happen rather sooner than later 🕶️🐍
Will bulls pull off some blunt force trauma? Bounce off somewhere above $9.96, blast thru 10.64 resistance and flirt with $11.50 by Friday? Why the F%&$ not?
MSOS denied at $8.41 resistance level. Try again next week for $9.39? Why not.
Looking to add to my #MSOS position in the event it reaches the .5 Fib. If it breaks lower, would take the loss and average into a longer swing trade position on daily consolidation. The strength of the breakout pivot is impressive. Aggressive bulls will be delighted with broader market strength. AI driving the market, so eyes are there for indications of trend changes.
Simple trend trade on MSOS Great Support / Resistance around 8.80 testing the daily 50ema and Fib levels. 4h & 1h time frames you can see a wedge patter form, waited for price to break the 1h 50 ema and placed an options trade. Expiration date 3/15 bought at $10 and selling at $10.50.
MSOS looks poised on a Cup and Handle pattern for a potential breakout. Stop Loss @ 20% in a smaller position size to start. Need to see it play out, but bullish divergence in RSI looks good. .5 Fib - Orange - is a BUY. #MSOS
BREAKOUT PLAY AMEX:MSOS Breakout at $10 Bought CL and TRUL under MSOS ETF
AMEX:MSOS is a Cannabis ETF that looks to be basing for the last 4 months. Cannabis stocks have not been on my radar for more than a year. It looks like institutions are getting interested now. Since that appears to be the case, I am interested too. Maybe this should be on your watchlist too. See chart for my notations and thought process. I have an alert set...
Weed jokes aside.....this one is heading higher. Bought back in yesterday - anticipated a falling wedge breakout. 1. No confirmation yet 2. Had a 50/200 cross the other day 3. 50 curling up 4. Breaking out of falling wedge 5. Open gap at $11+ 6. Congress will eventually clean up their mess 7. Surprise rescheduling perhaps.
Since September, MSOS has been consolidating off the pop from news of possible rescheduling of marijuana. With a triple bottom bounce of $6.90, it seems that this breakout is going to be likely soon. If it does breakout successfully, we could see a movement of ~100% to about $14 levels assuming the move is the same as the length of the flag pole (bull flag)....
f you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Also, check out the links in my signature to get to know me better! MSOS News pump, so a short based off of past trends could be warrented, but watching for a nice correction and some reactions off of these levels starting at 6.44 and 5.56.
Just hit the only monthly buy signal its ever had. Next gap up on the daily @ $11.18. Heavily shorted sector. Weed = 6th largest cash crop in US DOJ will agree with HHS. SAFE Banking this month. Most holdings are trading way under book. I once smoked way too much of that butane hash/wax/dab stuff once and I literally saw the back of my face with my...