MSOS in retracement for AMEX:MSOS by Safe_Trades — TradingView


Hello dear padawans. This will be a short one. If you want exposure to the cannabis market (which seems promising under the new administration), this ETF is the new (hot) kid on the block. Its price soared 130% since September 2020. It seems it is retracing now after that shooting star candle that was the peak of the exhaustion move. I plotted the fib retracement levels so you can use those as a guide on the way down. Although the price could revert if it finds support on the emas, I am going to wait patiently to see if it fills the gap (solid support line). I am a heavy buyer anywhere below $39 if the price gets there. If it doesn’t I will consider other support levels for my entries.

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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***


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