VIDEO: Technical Analysis of MJardin Group Inc (MJARF)
Why use Multiple Technical Indicators when Evaluating Marijuana Stocks?
If you’re only using a single indicator to evaluate whether you should buy or sell marijuana and hemp stocks you may be missing important price trends. Any single trade made based on one indicator alone may have a higher likelihood of not performing as intended. At Cannin, we like to combine multiple technical indicators into a single strategy to help limit risk while still earning strong returns investing in marijuana stocks and hemp stocks. In fact, we’ve combined and packaged our machine learning software for this purpose. Get your free month now. New to cannabis stock investing? See our quick guide on opening your online stock brokerage account in 5 minutes.
Technical Analysis of MJARF: What are Keltner Channels?
Keltner channel is a technical analysis indicator showing a central moving average line plus channel lines at a distance above and below. The indicator is named after Chester W. Keltner (1909–1998) who described it in his 1960 book How To Make Money in Commodities. This name was applied by those who heard about it from him, but Keltner called it the ten-day moving average trading rule and indeed made no claim to any originality for the idea.
In Keltner’s description, the centerline is a 10-day simple moving average of typical price, where typical price each day is the average of high, low and close,
The lines above and below are drawn a distance from that center line, a distance which is the simple moving average of the past 10 days’ trading ranges (i.e. range high to low on each day).
The trading strategy is to regard a close above the upper line as a strong bullish signal, or a close below the lower line as strong bearish sentiment, and buy or sell with the trend accordingly, but perhaps with other indicators to confirm.
Technical Analysis of MJARF: What is CCI?
Marijuana stock investors use the Commodity Channel Index or CCI to identify price reversals, price extremes, and trend strength. The CCI should be used in conjunction with other technical analysis indicators to evaluate marijuana stocks. In addition to momentum, volume indicators and the price chart may also influence a technical assessment of your select cannabis stock. CCI is often used for detecting divergences from price trends as an overbought/oversold indicator, and to draw patterns on it and trade according to those patterns. In this respect, it is similar to bollinger bands, but is presented as an indicator rather than as overbought/oversold levels.
VIDEO: Technical Analysis of MJardin Group Inc (MJARF)
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