Green Thumb Industries Inc - $GTBIF Chart Analysis | March 26, 2022

5/07/22: updated

$GBTIF - Chart Analysis - March 10th, 2022

​​​​$GTBIF CHART ANALYSIS

Green Thumb Industries Inc has been struggle to get high, despite having higher volume than most cannabis tickers.  Will it be free of this buzz kill?

Quotes by TradingView

​On the weekly chart, $GTBIF has flexing big highs and 'Debbie Downer' lows, can the 420 spark enough buzz to get investors back high?

Update

​TAKE A HIT OR LET IT SIT?

Green Thumb as been showing some bipolar monthly price actions.  In one month it moved up from $18.50 all the way north to $28 and another month went from $22.50 down to $14.70 and continued south from here.  As it stands currently, if you got in around March 3rd, your hit should keep you high for a while, but be cautious if you're new to rotation and looking to take a coming puffs of $GBTIF.

​The images below is on the weekly and daily comparison, fresh off the press (as of March 25h/updated).  Since I made the market prediction (Twitter post below), it's been just over two weeks and the stock price seems to behave exactly towards my technical analysis.

​SPARK IT UP OR IS IT CASHED?

Green Thumb Industries Inc, cannabis ticker $GTBIF, was a spark it up at the time of prediction, but be weary if you're trying o hit it now as it might be cashed out soon.

At time of prediction, if you would of got in this trade you should be up from entry at $15.21 to a recent peak at $18.68 (+22.8%/+$3.47 -- Predicting 42% overall via entry).  Now: $17.77

Currently, I see a bull trend that starting around March 3rd and will continue to produce a high for a little bit.  If you got in around $14.70, expect nice swing play with a buzz kill around $22 for the 420 pump, which I see ending after turning into May.

Correction ('ABC' / '12345' Interval Completes) - Now 4th-5th wave, expect divergence via MACD throughout until cycle completes.

With the POC around $9 (history), expect the Middle of May selling to continue into the summer. $13.50 looks like a good mid point, collecting itself before last selling with a final landing zone around $11.60 to a possible $10.50 to finally catch the volume before correction.

$GTBIF pic.twitter.com/3Csvurpedu

— ₙᵢcₖ Cₐₛₖₑy□ (@NickolasCaskey) March 10, 2022

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$GTIBF Update

Last Chart Analysis (March 26th, 2022): Hit price targets (Oversold May 4-6th) - reason for update.

Like most of the cannabis sector, the last couple days of the first week of May oversold than I expected, while hitting all my price targets, it happened faster than expected.

This will change my overall look and move the primary cycle 4th and 5th wave (as presented in new chart)

The MACD quickly corrected what was a peak of divergence and now shows a hard sell continuation.

I would expect to see a 3-4 correction here, any price around $10.60 = $10.32 with a chance of going north towards $13.52 for possible PT via correction peak. Possible $9.30-ish 'kiss' (maybe look for stop loss shares) before 3-4 correction (just an after thought)

Expect hard selling early Nov (if not a little before then) and to continue to sell until April of next year ('23), making $6.02 - $5.60 a possible floor. I would assume chaos if it goes under $5.60
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Tags: $GTBIF $MSOS

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