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Columbia Care Inc. ($CCHWF): Buy or Sell?
Columbia Care Inc. cannabis stock price action is heading towards support level for the third since summer, it is time to buy or sell $CCHWF?
Columbia Care (CCHWF): Stock Chart Analysis and Price Action Forecast
After applying my technical analysis towards marijuana stock ticker $CCHWF, the monthly candles have been in support and resistance channel for several months now between $1.25 - $2, making a buy option tempting, but not for me.
I feel like this monthly rejection was strong enough to apply for selling pressure and those who have been buying these supportive prices are likely going to cash out, if not already, or have triggered their stop loss orders, my final price target is $.71.
Taking a closer look at the weekly chart, we can see that none of the rallies where enough to close over my $2.10 bullish support price level, making shorts in control. Once closing under $1.25, expect lower price action and if panic selling kicks in, after $.71 I expect $.55 playing a role.
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.