Still looking for support base and bottom
Diupdate
Today closing already broke 50% support line ($9.68) and the next support line will be $8.60 ( 0.618)
Might need 5 to 10 trading days to see if this will be the bottom at this time.No hurry to long.
Might need 5 to 10 trading days to see if this will be the bottom at this time.No hurry to long.
Catatan
Friday closing at $9.62 day high created a green candle.The low of this week trading on two days were 8.91...it didn't test the 0.618 support of $$8.60...Short recovering is possible because its Friday and the Trade talk is still going now.
Will $9.00 be the bottom at this time and rebound ?
Writer still believes Cannabis market sentiment is most important and unfortunately seems negative or grey due to Q1 reports are coming out next week or so for many Companies.Still stay on side line and observe.
Catatan
23 and 24th of May seems to confirmed $8.60 (0.618) is the temporary bottom.24th green candle broken the down trend.The upside resistance is $11.20 and can be easily break if sentiment improves. Support is $9.00.
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