POTX: Cannabis Stocks Are Not Yet Ready To Get High (Archive)
Cannabis headwinds keep POTX in bearish flow despite the sector’s long-term potential.
This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.
Elevator Pitch
- Cannabis banking legislation gets excluded from the omnibus spending bill.
- Profitability and debt levels of companies in the cannabis sector along government regulations are key monitorables for this ETF.
- My technical analysis framework based on Trend Flow, Support/Resistance Location, and False Breakout Traps suggests that POTX is in bearish flow, but without bull-trap signs.
Read the full article here.
Disclosures and Disclaimers
Past performance ≠ future results. Not investment advice. See full Disclaimer.
Comments ()