VIDEO: Charting Man Dan on the Value of Technical Analysis in the Cannabis Space
Dan “Charting Man Dan” McDermitt of The Chart Guys explains the value of technical analysis for investors. McDermitt believes both technical and fundamental analysis are key investment tools and a balanced approach is vital for investment success. Charting Man Dan stresses that technical analysis provides investors with an edge; it’s not about predicting future stock performance, but rather reacting to moves the market has already made. He stresses that high volume and liquidity are essential for accurate and useful technical analysis. Charting Man Dan walks viewers through several charts including the charts for Canopy Growth Corp (NYSE:CGC) and MedMen Enterprises Inc (OTCMKTS:MMNFF). He explains that investors need investing plans to limit exposure in the markets and recommends setting a stop loss point to curb damage from emotional selling. He expects investors will shift from staking Canadian cannabis companies to focusing on the underdeveloped American cannabis sector but believes the eventual leaders in that space aren’t yet clear.
Original article: VIDEO: Charting Man Dan on the Value of Technical Analysis in the Cannabis Space
©2018 Midas Letter. All Rights Reserved.
Source: https://midasletter.com/2018/11/charting-man-dan-value-technical-analysis-cannabis-space/
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