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$MSOS Chart Analysis
Advisorshares ($MSOS) stock seems to be the 'bear of bad news' as it not only holds a lot of retail investors in bad spirits, but also loves spreading their synthetic weight around the whole cannabis index.
Quotes by TradingView
CURRENT BUZZ
For a weekly chart, Advisorshares MSOS stock forecast seems to want to continue this downward direction of selling, giving a little love around the '420 pump'.
SPARK IT UP OR LET IT SIT?
Just about to pivot on the interval cycle via 3/4 wave, I would expect to see a small correction that might be usable for a long swing for $1 gain (or more), but will begin to sell and continue this downward trend through out the summer.
Shaving another $3, I can see this cannabis ETF possible catching ground around $14.5 - $14. Hard to judge since that isn't any previous volume to support this ticker, but could present a cycle correction worth playing. MACD is showing divergence, so I would assume this divergence will carry on through out the 5th wave. $MSOS UPDATE
At the start of the week I hit my weekly semi-cycle 3rd leg and on Tuesday, my interval daily cycle hit the 5th wave. I was looking for a semi-correction, but instead was surprised by Thursday (yesterday) price action sell even more. So, I went back to the drawing board and calculated some more data -- This might be way too early to call, but here we go.
$14.00 was my price target for the start of a semi-correction (see original post, above), selling down to $13.70 was unexpected, but with new data, I think I see what's going on here and makes it a very interesting oversell action. I believe we will see a summer correction through the next few months, possibly north +$18 to and depending on the force of the correction, it could kiss $20 before finally selling off for the 5th leg, which could see $8 by next year.
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.