[isatrader]

(HEMP) Pretty much as speculative as a stock can be...but I have owned this for a year and a half now (lived in Colorado too long I guess) but was always too embarrassed to say so on this site... Just too fun not to now. Bought it sooooo cheap and my original plan was to just hold for at least 5 years.. But I think I have to sell very very soon. Could always buy back in a few weeks when it has come back down. I dislike day-trading but I think this would be a great one to play around on...what would you do?

Beautiful little chart...HEMP CHART

Hi Locked in, It looks like you've had a wild ride on this one over the last year, so well done on your gains. However the concern with these stocks is that if you Google "HEMP stock pump and dump" or similar, you get a number of articles that suggest there's a lot of scams going on currently with this new fledgling group of stocks on the OTC market.

However, ignoring the news and just looking at the chart pattern solely this has broken out to new highs on exceptionally strong volume. For example it did more volume than Facebook's stock last month, which is crazy. So it's in a parabolic early Stage 2 move on heavy volume. So a sensible strategy imo would be to take some profits, maybe 50% now and then let the rest ride, as it will suffer some severe volatility as it's extremely extended above it's moving averages. But, the volume is the key to watch, as as long as it's lighter on the pullbacks and heavier on the up moves, then the momentum will likely carry it for a while imo, although you might have to sit through huge pullbacks that wipe out most of the gains will it's still in a Stage 2 uptrend.

I've attached a few charts. The weekly chart, and a 2hr chart, if you are going to do some trading in it, as I think that the Weinstein's method works very well on a 2 hour chart also, if you treat it identically to a weekly chart. So on the 2 hour chart you can see that it made a cup and handle pattern Stage 2 continuation move on heavy volume following the breakout, and it is a bit extended from it's 2hr 10 MA - which is at 0.1808 currently.

I hope that helps and good luck however you decide to play it. Attached are the charts