C21 Investments Inc. (CSE: CXXI)
C21 Investments Inc. states they are looking to be an international player in the cannabis space. Per their website description, “C21 makes acquisitions and operates along the entire spectrum of the cannabis space, capturing profit margins through the entire value chain, so to report top-line revenues and afford management the ability to fully compete aggressively in the rapidly growing cannabis market.” Currently, C21 has holdings in Oregon and in Nevada. They are also in the midst of making a potential future acquisition in various additional states. Much like C21 is aggressively pursuing acquisitions in California, Colorado and New Mexico, you too should apply this logic to your charting observations and scans.
Today we will look a lesser known but still very valid chart pattern Bulkowski's Big W. I would like to point out that this pattern has not actually occurred - well at least not textbook style anyways - perhaps an altered version of it will occur yet. This should still be discussed so that you know what to look for and how this chart pattern can work for you. In addition, we want to help you proactively look for chart patterns while they are in the making and just not an afterthought once the pattern has completed. With this pattern, it is similar to the double bottom as the support we have previously discussed in our <October 2017 mag. Link here>. The difference is that the drop off before the double bottom is very steep. The theory here is that once the price first confirms a double bottom and then breaks above the middle part of the W pattern that t can rapidly climb back up to the prior highs - essentially performing the opposite move of the sudden price drops before the double bottom. We will have to wait to see if this pattern pans out for us or not. However, In the meantime, hopefully, this can be insightful for you and your gains from planning ahead can be big, much like this pattern.
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