WEED had a Sell the news scenario at the end of this week after a run of over 20% since breaking out of the weekly equilibrium pattern we were watching. We have now consolidated on the daily time frame and are looking to set a higher low compared to $31.41 and then we will expect a lower high putting us into a daily equilibrium pattern.
Daily Chart:
Zooming in to the hourly time frame we can see that we are close to being oversold on the RSI indicator. We will be looking to scale in Monday when this occurs looking for a volume flush and bounce to set the daily higher low.
Hourly Chart:
