In April, shares of HEXO Corp. HEXO found support around the $5 level. The bulls turned the tide, and a significant rally followed.
But now it’s different.
The bears have pushed the stock lower again. And this time they may be winning. The support has broken.
This means the buyers who created it around the $5 level are gone. They have finished or canceled their orders.
Either way, they have left the market.
With this large amount of demand for the stock out of the way, sellers will need to force the price lower to sell their shares. This could form a new downtrend.
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