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CannaRoyalty per their website is “uniquely positioned to contribute strategic capital and functional know-how aimed at driving commercialization and maximizing the return potential of our diversified platform of assets and holdings.” What I find unique about the chart for CannaRoyalty is the cup and handle setup. I know we had discussed the cup and handle setup last issue for another stock, but when there is a cup and handle served to you it’s best not to ignore it and drink from the cup of gains being offered to you. While it is rather difficult to find a perfect cup and handle setup, I must admit, this one is rather clear compared to others lurking out there.
What do we want to look for in a cup and handle? Another great question .Well, we do want to see a breakout above the top of the cup and handles top, followed with an increase of volume. Once the breakout has been confirmed you might be wondering where the stock is headed next. This is a bit more of a complex question to answer, however there are some schools of thought. Here is one of them: measure the distance from the top right hand side of the cup to the bottom of the cup. I personally would monitor the stock for other signals to occur until this happens, but this should help provide you with a rough idea of where the stock could be going. So the next time you see a cup, don’t be afraid to grab it by the handle and drink the gains within.
CannaRoyalty Corp. (CSE:CRZ)
Note: This is an American ticker for those looking to diversify.