ZYX Buy Change Alert subscribers caught the big move in India Globalization Capital (IGC) stock on the announcement of India Globalization Capital entering the cannabis drinks market.
This follows ZYX Buy subscribers generating 311% return on New Age Beverages (NBEV) stock on New Age Beverages entering the marijuana drinks market. For details of the trade on New Age Beverages, please see THE NEW ‘TILRAY’ MARIJUANA STOCK IS HERE — THIS IS HOW TO SET UP THE TRADE
There are opportunities to make great profits in smaller marijuana stocks in addition to making profits on larger marijuana stocks such as Tilray (TLRY). Canopy Growth (CGC) and Cronos Group (CRON). A good example is the stock of India Globalization Capital.
Here is the post that was provided to ZYX Buy Change Alert subscribers prior to the market open at 8:41 am this morning. This post is one of the many follow ups that the ZYX Buy Change Alert provided to its subscribers after the original post to buy India Globalization Capital stock at a much lower price.
SIGNAL LIMITED: MARIJUANA STOCK IGC IN THE ORIGINAL TARGET ZONE
Marijuana stock IGC is long from $2.93. The original second target zone was $5 to $6 on a short squeeze. A short squeeze has occurred. The stock has traded as high as $5.90 in the pre-market and has backed off to $5.44 as of this writing.
Right now our algorithms are not detecting signs of this short squeeze ending. However in the past, unlike most other stocks, short squeeze in this stock has often ended abruptly.
It is worth remembering Arora’s Second Law of Investing, “No one knows with certainty what is going to happen next.” If any one tells you any different, consider running away from them as far and as fast as you can.
The best thing investors can do is rely on probabilities. Here are the probabilities.
- Backing off from here is 60%.
- Going to $6 – $8 range and then backing off is 25%.
- Going to $8 – $10.75 range and then backing off is 15%.
The problem with raising stops here is that there is no good stop zone higher than the one previously given. Those desiring to raise stops may consider $4.33 to $4.43. Those looking at even a higher stop zone may consider $4.64 to $4.68.
What To Do Now
On a stock like this, it is a matter of personal preference. Most investors may consider raising the stop zone to protect profits.
Here is a subsequent follow up post published in ZYX Buy Change Alert.
SIGNAL LIMITED: RAISE STOPS ON MARIJUANA STOCK IGC
Marijuana stock IGC has now moved to $6.88 as of this writing. Most investors may consider raising stops to $5.43 to $5.63. Those desiring a higher stop may consider $6.23 to $6.38 knowing that this stop has a higher likelihood of getting whipsawed.
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