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Ascend Wellness Holdings, Inc. ($AAWH) - Stock Chart Analysis and Price Prediction [Dec 02, 2022]12/2/2022 Ascend Wellness Holdings Inc. ($AAWH): Buy or Sell?
Ascend Wellness Holdings Inc. cannabis stock chart keeps going lower and lower, but could these candles be forming a wedge? If so, is it time to buy or sell $AAWH?
Ascend Wellness (AAWH): Stock Chart Analysis and Price Action Prediction
After applying my technical analysis towards Ascend Wellness marijuana stock ticker, $AAWH, it's clear support was lost in September, but with semi-cycle wave 3 coming to end, likely around $1.23, I could see the potential of a wedge starting to form here (orange dashed line acting as support for the wedge).
Weather a wedge is to form or not, I believe my price target would be $.92 - $.85 cents. If a wedge is forming, than, obviously, my wave count would need to be refreshed and corrected. But, still think $.92 cents plays it's role.
Taking a closer look on the weekly chart, we can see that none of this rally closed over $2.32, making shorts remaining in control since their September accomplishment. Currently, Ascend Wellness making new lows making trigger some panic selling, if price target $.92 - $.85 does not hold and selling continues, I expect $.67 to make a try for a cycle pivot.
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.