Marijuana Stocks Might Have Bottomed
January 10, 2024
Putting aside personal beliefs on whether one should or should not consume marijuana, no doubt there are many people who do. Besides, a buy signal is a buy signal, so if the MJ etf holds up into the end of this week, I might buy some for myself and the accounts I manage. Or, I could wait until about 10:30 am Monday morning to make sure it respects its moving averages just below the current price. Below are the daily and weekly charts, the weekly shows a long period of sideways movement after a massive collapse the last few years, and if we can get in near the moving averages we have much lower risk. I will use the 30 WEEK MA as my tell.
