HEXO has moved passed the 1:1 Fibonacci extension with impulse having formed a continuation pattern that should see it hit the long term 1:1618 fib at $0.06 and probably also overshoot to 1:1 mid range fib at $0.03.
If it gets there i'll be looking to sell LEAP puts in high IV and/or buy the stock.
If it did bounce in that area then likely will see at least a 0.382 reversal which would take it back up to the long term 1:1 fib and resistance at 0.45.
Monthly RSI to perhaps touch the lower band.
Not shorting.
Not advice.
If it gets there i'll be looking to sell LEAP puts in high IV and/or buy the stock.
If it did bounce in that area then likely will see at least a 0.382 reversal which would take it back up to the long term 1:1 fib and resistance at 0.45.
Monthly RSI to perhaps touch the lower band.
Not shorting.
Not advice.
I'm somewhat quiet on TView for now but you can find me pumping content every day in my Telegram Trading Group 🧐
Priority trades, round the clock updates and 4+ hours technical video per month😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
Priority trades, round the clock updates and 4+ hours technical video per month😼.
$50 per month 👍🏻.
Contact: t.me/dRends35