CGC Daily Review
1/13/2020
Price closed near HOD at 23.11, above all nearby resistance.Bulls have the ball
As mentioned on Friday, wedges love to give false breaks, and the market threw one out of the gates.
We've been long against 19.90, this morning was yet another opportunity to position long.
With Daily Close now above 23 (21.56 especially), we expect a vacuum higher as stubborn bears will be forced to cover. Remember the ONLY guaranteed buyer is a short covering. Short Float last reported as 21.2%
Minor resistance at 24 & 25 psychological, but expect sellers to arrive 27.50-28.
NO GUESSING, Let the price tell you when the move is over.
Price closed near HOD at 23.11, above all nearby resistance.Bulls have the ball
As mentioned on Friday, wedges love to give false breaks, and the market threw one out of the gates.
We've been long against 19.90, this morning was yet another opportunity to position long.
With Daily Close now above 23 (21.56 especially), we expect a vacuum higher as stubborn bears will be forced to cover. Remember the ONLY guaranteed buyer is a short covering. Short Float last reported as 21.2%
Minor resistance at 24 & 25 psychological, but expect sellers to arrive 27.50-28.
NO GUESSING, Let the price tell you when the move is over.
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