There is a classic bullish retrace going on in the ETFMG Alternative Harvest ETF (MJ). This is the marijuana ETF. After a recent big surge higher, it is slowly coming back to a major gap fill at $16.65. This level represents a 75% retrace of the recent surge higher. With it coinciding with the gap fill, plus the bullish inside bar pattern, it makes it a strong buy at that price. The next move up should take the MJ to $20.75.
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