CANN

Do or die coming up for CANN on 1 hr charts. Triangle Continuation pattern in play, break down would be ugly but lead to excellent entry at lower prices when MJ stocks come back in favor. But a lot of indecision in candles,,Struggle between the bulls and bears for sure about to break one way or another. Id take long on break out and look for solid support below to enter on breakdown, rising trendline would be safe spot with close stops..

Kommentera:

Appears to be breaking down out of pattern. If downside break occurs (which I believe it will ) expect selling to intensify on break of prior low 3.77. Could continue to drift sideways as it has lately but I think channel line and longer term trendline will force a move. Downside pattern target would be 1.83 range but there is still an unfilled gap at 1.65. Im not a believer gaps must be filled but they usually are eventually. If upside break occurs expect a run to 6.15-6.55 range.
Momentum is to downside.