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BREAKING: Spyder Cannabis Receives Approval on Development Permit for its Flagship Cannabis Store in Calgary, Alberta

  • Received approval on their development permit for a flagship retail location in the heart of Calgary
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Message: Chart showing the convergence of the 50 & 200 DMAs....

GAC - You are right that the 50 and 200 day MAV's are forming a triangle that could cause a breakout. The 100 day is close to the 50 also. With the 200 rising and the 50 flat points a little to a breakout up but only maybe. The Bollinger Bands are squeezing a bit also which can signal a breakout too. Notice earlier last year that they squeezed tight in April and it broke down and then squeezed a bit in May/June and it had the big breakout upward. We have a strong 7 month base at $3.00 now but there is another triangle also. Trend lines have a horizontal bottom at $3.00 with about a 6 month downtrend top which could lean toward a breakout down. We have conflicting signals but the $3.00 base has held so well so long that I think it and the 200 day might win out to break upward. Maybe just hopeful but as you mentioned at the start, RVX really trades too lightly to put a lot of faith in technicals.  

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