We appreciate your attention in this episode of our technical analysis where we kicked it into high gear and took some fundamental analysis and approached it from a technical perspective. Remember, as the sector shows signs of volatility so don’t be afraid to take advantage of the technical skills you are budding into. We will continue to help you build upon your skills with every edition until you are high on knowledge.
As always, if you have any stock or technical analysis topics you would like to cover for our next issue please reach out to me on Twitter via @rhum01
Wrap it Up >
Some additional notes:
Today we have covered the basics of the triangles and wedge-like patterns that you are most likely to encounter when you come across the charts of your preferred cannabis investment (of course this applies to other stocks too). There are other patterns that resemble triangles or wedge out there as well, but we will get into those details at a future date. Something that is important to keep in mind when you stumble across these patterns is the possibility that they may be continuation patterns. That is where the stock stops its upwards or downwards pressure to consolidate or cool off before resuming the trend. One thing you will technically note go hand and hand when the chart is wedge is the tightening of the Bollinger bands which have previously discussed. And like many charting techniques, these wedges and triangles can be applied to different time frames regardless if you prefer looking at weekly candles or 1-minute ones.
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