Next Green Wave Holdings Inc. (CSE: NGW)
Next Green Wave has been established to produce and supply cannabis products throughout the State of California and has is making a business case over the growing market as such from their website:
“Over the next five years, we project the total state market to grow at a compounded annual rate of 18.5%, from US$2.76 billion in 2015 to US$6.5 billion by 2020.”
Much like Next Green Wave is looking to become a key producer in a market, you too can make smart investment decisions by looking for and acting on key charting setups.
Today’s key charting setup that we are going to explore is known as the inverse head and shoulders. If you recall, we had previously discussed a bearish charting pattern known as the Head and Shoulders pattern. The inverse is basically that same pattern except upside down. This also happens to make it a bullish charting pattern as well. The pattern is relatively simple to spot once you know what you are looking for. Essentially you have a dip that rebounds (the left shoulder) followed by another larger dip (the head) that rebounds, again followed by another
smaller dip (the right shoulder). Once the prices break above the neckline then that would be your signal to enter long. Note that this pattern like all others is best served when your other technical and charting observation align with it. Like this pattern, remember to use your head.
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