Reading Time: 3 minutesSource: gvictoria / Shutterstock.com It’s been an excellent month for cannabis stocks and it’s not hard to see why. All evidence points to the fact that the federal government is considering rescheduling the recreational drug from Schedule I to Schedule III. These “schedules” refer to the government’s classification of a drug’s severity with Schedule I
Dissecting The All Too Famous Zig-Zag Pattern
A zigzag in a bull market is a simple three-wave declining pattern labeled A-B-C. The wave sequence is 5-3-5.
- A three wave move in Wave A, signals a flat or triangle for Wave B
- A triangle always occurs in a position prior to the final wave
- Wave C is the final wave in the sequence