Cannabis Stock: Higher TerrAscend Stock Prices Could Be Ahead – Profit Confidential

iStock.com/marchmeena29 TER Stock: Technical Indicators Are in Bullish Alignment

2017 was an incredible year for marijuana stocks, as the entire sector moved higher. The rising tide that was responsible for lifting the sector has now gone out, and as a result, the entire sector is going through a painful price correction.

During times of duress, many investors seek a catalyst that will give their sector a bump. Most of the time, this catalyst is just based on hope. As a result, nothing ever comes of it. In this case, the retail investors I have spoken to continue to use marijuana legalization set for July as a catalyst.

This date is fast approaching. Whether or not it will act as a catalyst that sends this sector higher remains to be seen, but in anticipation of it, I am on the lookout for stocks within this sector that are exhibiting signs of inherent strength. If this sector does find its footing again, these are the stocks that are going to continue to outperform.

It didn’t take me long to find what I was looking for because I stumbled upon a marijuana stock that is competently bucking the trend, and it’s currently forging new highs.

The investment in question is TerrAscend Corp (OTCMKTS:TRSSF, CNSX:TER) stock, and this marijuana stock is standing tall, flexing its muscles as its peers correct. Aside from just forging new highs, there are a number of technical developments setting TER stock aside from its peers, and these developments are suggesting that this level of outperformance is set to continue.

These technical developments are highlighted on the following TerrAscend stock chart.

Chart courtesy of StockCharts.com

Since TerrAscend stock began appreciating in mid-November, the move toward higher prices has been supported by constructive price action and a very influential monument indicator.

Constructive price

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