Marijuana Stock rally as Jazz Pharma agrees to buy CBD maker, we used technical analysis to find out which has entry trade signal.
Having a strong uptrend since Dec 2020, forming a bull flag and build up approx. 2 weeks. Break out on 2 of Feb 2021, RSI and Stoch. indicators also level at above 50% as confirmation trend in bullish.
I have trade at price 18.11 (can refer to Etoro), next day price open gap jump up.
Used Fibonacci Extension to project 1.618 and 2.0 as taking profit level.
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Due to market is crazy bull, I extend stop loss as trailing stop loss, currently it has 133% profit holding. At the moment it is over-extended, these few days might close the trade if activate by the trailing stop loss.
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