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AdvisorShares Cannabis ETF ($MSOS): Buy or Sell?
AdvisorShares Pure US Cannabis ETF ($MSOS) had a good rally during the cycle correction that started June 30th from a low of $10.09 and ran north $3.72 (+37%) and kissed $13.81 before turning south and changed to sell trend on August 30th. Without touching new lows, is now a good time to buy or sell $MSOS?
Quotes by TradingView
$MSOS Stock Chart Analysis and Price Action Prediction
When analyzing AdvisorShares Pure US Cannabis ETF ($MSOS) stock chart, price action looks very aggressive since cycle correction, which tells me we still have a way to go, at the very least no real bull support to slow down this current trend.
There's definitely a volume gap that should be noticed, but I don't think this pot stock will fill it anytime very soon. I do however believe a small pullback is warranted and applied some ghost candles to suggest what I believe will happen. If a pivot in current price action shows more bid volume, you might see $10.99-ish for some small gains. If this fails, expect more aggressive selling to hit short's price target and $MSOS stock price forecast and prediction of $9.95, which can easily sell past to set even new low-price target of $.9.63 before current cycle correction. $MSOS Stock Divergence (4hr)
The $MSOS divergence indicators currently show no indication of any divergence present. The previous rally was the cycle correction with was littered with divergence and sense the divergence collected and shorts started selling again as of 8/30. With no divergence showing, expect to see some when the 5th wave starts or likely when current trend cycle completes, and another pullback correction is given.
Tags: $MSOS Cannabis ETF
![]() Pot StocksWriting by Nick CaskeyPot Stocks provides stock chart technical analysis for cannabis investors in the marijuana sector of the stock market(s). Follow PotStocks420 on Twitter! Made or saved money by following these charts? Consider sending a tip or donate towards the analyst's pain management fund.
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Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations by Pot Stocks - These are theories and ideas using a chart analysis method developed by Nick Caskey.