Trade Setup
cbdMD, Inc. produces and distributes various cannabidiol (CBD) products. It owns and operates consumer hemp-based CBD brands, such as cbdMD and Paw CBD. Its cbdMD brand products include CDB tinctures, gummies, topicals, capsules, bath bombs, bath salts, and sleep aids. The company also offers veterinarian-formulated products, including tinctures, chews, and topicals under the Paw CBD brand name. It distributes its products through its e-commerce Website, third party e-commerce sites, wholesalers, and various brick and mortar retailers in the United States.
Stocks found in this category are low priced stocks priced between .50 and $4, with at least 50k shares of average shares trading per day. The stocks are pausing a trend either up or down, with a new bar over the prior day open or close. These are high reward to risk stocks with the potential for very sharp moves. A stop should be maintained at the low of the prior day. Target prices for exits can be determined by using the next level of resistance higher or by using Fibonacci resistance levels found using TradersPro.
