$CAN Interesting look here on the daily. We broke the uptrend line, which is not good. Now we’re re-testing that trendline and it’ll likely act here as resistance.
Two possible outcomes, we re-test this trendline as resistance once or twice, before failing the breakout and falling back to $1, and then below.
Alternatively, we re-test the uptrend line and break through it, making the journey to new highs
$CAN
This is why I ALWAYS preach taking profits on the way up, and/or having a trailing stop/stop loss in place.
A CNN study was performed proving that 50% of all listed companies fail and go bankrupt.
Another study found that just 2.4% of listed companies, delivered 99% of the
$DJI returns over the last 30 years.
This shows that the very large majority of listed co’s always revert back to their mean price and/or outright fail.
I’m posting 20 of the BEST setups in the market this weekend, be sure to FOLLOW with NOTIFICATIONS ON 🔔 to get notified when I post a new trade alert.