WEED has continued to move downward within the magenta Target Zone between C$2.96 and C$0.90, and it is now trading in the lower quarter of this range. Currently, the stock should be working on a blue five-wave move and should soon reach the low of wave (v), thus completing this structure and also the large green wave [2]. Primarily, we still grant the stock some more room to fully utilize the Target Zone, but a trend reversal should be initiated with the low. Afterward, the high from April 29, 2024, at C$20.50 should be exceeded during the turquoise wave 1.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.