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Glass House Brands Inc ($GLASF) - Stock Chart Analysis and Price Prediction [November 9, 2022]11/9/2022 Glass House Brands (GLASF): Buy or Sell?
Glass House Brands Inc stock price action as been one of the best in the sector. Not only has it sustained and added the 10/07/22 correction, but is now trying breakout the resistance that started in 08/01/21. Is $GLASF a buy or sell?
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Glass House Brands (GLASF): Stock Chart Analysis and Price Action Prediction
After applying some of my technical analysis towards the $GLASF stock chart, I find we are in a tight situation. While indicators and the candles are visually tasteful, I don't think this will work out the way bulls want and I believe they have been getting by on some bearish intentions, ready to show their true colors.
To support my theory, we are on a cycle threshold causing resistance and we are met with almost 6 months worth of resistance levels that started over a year ago. You can tell that during 06/'21 the candle represents an extreme low and ends in a powerful hammer, screaming over sold. It appears that right after the shorts covered their pullback/corrective move, they shorted again, but only to be met with Biden's pardons, making the shorts cover their new short positions. Thus, creating a pullback extension. $GLASF Stock Divergence (4hr)
The 4hr chart is laced with bearish divergence that started mid October and has not let up. Without any bipolar or dramatic moves, I say this is genuine and will want to be collected. The $3.70-$3.75 resistance is set to act as support if the selling happens soon, we would need to see if it holds true. If not, $3.30-$3.35 should act as a soft landing, $2.95-$3 PT if bears continue with momentum.
If a bullish outcome is expected, $4.30 would need to act as support, giving a chance to battle around $4.65, this gives ground for getting all those months of resistance levels to act as support. Conclusion: Let's see how crazy I am... 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.