Investing.com investing.com 04 Jan, 2021 07:30 am

Broad Bottom In Cannabis Sector Suggests 2021 May Be Good Year For Pot Stocks

Broad Bottom In Cannabis Sector Suggests 2021 May Be Good Year For Pot Stocks
Stocks Analysis by Chris Vermeulen covering: ETFMG Alternative Harvest ETF. Read Chris Vermeulen's latest article on Investing.com

My research team and I believe the recent longer-term bottom in the ETFMG Alternative Harvest ETF (NYSE: MJ ) suggests a broad bottom is setting up in the Cannabis/Marijuana sector.Our research team is focused on the possibility that an early 2021 price decline in this sector may set up a broad sector bullish trend near March/April 2021 (or earlier).Our research team believes the US and global markets have just recently started a broad depreciation phase which may last another 5 to 7+ years.This suggests a new rally in the Cannabis sector may be setting up in 2021 and beyond for traders.

Our BAN – Best Asset Now – trading strategy is always looking out for the next sector to make a trade, and the Cannabis sector is certainly one we are keeping our eyes on!If this bottom in the Cannabis sector continues to profit support for the entire sector, then we may see price appreciation across many individual Cannabis stocks over the next 12+ months.

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