NFTRH+; A Marijuana Stock in a Bullish Setup

For the pot heads out there, here is WEED.TO having broken upward from a Symmetrical Triangle. The daily chart shows support at the 50 day average (30.40) and resistance at the March high (34.71). A rise above resistance would activate a target of 44.

As always, there is likely to be some volatility as you and I are not the only ones who see this breakout. The machines and market makers do too. In the event it is knocked back to the SMA 50 and support that could be a good bye opportunity with a stop loss to suit below that area. If you buy now, please have a tolerance to the SMA 50 at least.

I am interested, but doing a little more dusting up on the sector first.

Here is the weekly chart that sometimes appears in the NFTRH+ Charts & Notes segment that caught my attention after a knowledgeable subscriber primed me up a bit on the sector.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason), which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.