IIPR: Sentiment Remains Neutral Until Break/Re-Test $86
IIPR is one of my top stocks for the Cannabis sector. Excellent growth, excellent potential and plenty of upside. This will likely have one of the top CAGRs over the next half decade for dividend stocks.
As expected with Cannabis, there is still a HUGE amount of short interest in the entire sector so investors must be aware that what can go up 5-10% in a day can come down 5-10% the next day.
I believe one of two possibilities will happen as per my magenta and yellow line. My bet is currently on the magenta line as I see a cup forming off the monthly to likely $86-87 with likely a handle a few dollars below that resistance level. With 'weed' sentiment turning the corner seemingly as of very recently, I don't foresee this stock failing to breakout for too much longer, however I have shown both possibilities for investors.
My TP of $120-130 by year-end still remains that I put out a month ago. IF 'weed' sentiment can drastically change which is possible, theres no reason to believe why this stock cannot make ATHs.
Target areas shown on screen.
- zSplit
As expected with Cannabis, there is still a HUGE amount of short interest in the entire sector so investors must be aware that what can go up 5-10% in a day can come down 5-10% the next day.
I believe one of two possibilities will happen as per my magenta and yellow line. My bet is currently on the magenta line as I see a cup forming off the monthly to likely $86-87 with likely a handle a few dollars below that resistance level. With 'weed' sentiment turning the corner seemingly as of very recently, I don't foresee this stock failing to breakout for too much longer, however I have shown both possibilities for investors.
My TP of $120-130 by year-end still remains that I put out a month ago. IF 'weed' sentiment can drastically change which is possible, theres no reason to believe why this stock cannot make ATHs.
Target areas shown on screen.
- zSplit
