Cambria Cannabis ETF - $TOKE Chart Analysis
TAKE A HIT OR LET IT SIT?
On the weekly chart,
TOKE has sold out of the alternative semi-correction which has lead the price action south to the 5th wave of the semi-cycle pivot. MACD divergence seems to be peaking through the weekly signals, applying towards the 4th-5th alternative correction timeframe and assume this divergence will continue displaying throughout the primary 5th wave.
Since the ticker tag is under $10.19, I believe the semi-cycle correction is done and over with and will be on the south side of town until the 5th of the primary cycle target, which I think will start to gain traction around $8.35 -- $7.63 (wave 1 polar) possible floor for cycle correction.
*Bonus thought: This seems to be selling without Aug. and leading into Sept. With Cambria Cannabis ETF holding a lot of Canadian stocks, one might think this continues to sell when the US cannabis stocks are ready to make a correction move in Aug.
On the weekly chart,
TOKE has sold out of the alternative semi-correction which has lead the price action south to the 5th wave of the semi-cycle pivot. MACD divergence seems to be peaking through the weekly signals, applying towards the 4th-5th alternative correction timeframe and assume this divergence will continue displaying throughout the primary 5th wave.Since the ticker tag is under $10.19, I believe the semi-cycle correction is done and over with and will be on the south side of town until the 5th of the primary cycle target, which I think will start to gain traction around $8.35 -- $7.63 (wave 1 polar) possible floor for cycle correction.
*Bonus thought: This seems to be selling without Aug. and leading into Sept. With Cambria Cannabis ETF holding a lot of Canadian stocks, one might think this continues to sell when the US cannabis stocks are ready to make a correction move in Aug.
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