CANNAINVESTOR Magazine May / June 2017 - Page 161


I think MCIG is a clear example of why a technical analyst should always use multiple timeframes to analyze a particular stock. If I was to just look at their daily chart I would make the comment that the stock hasn’t broken out of its downtrend from the early February top which is true in my opinion. However, the weekly tells a tale of a stock that absolutely ripped (flying from the 2-3 cent area all the way to 50 cents). A consolidation period with profits being booked would be quite expected in this author’s opinion.