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Cannabis Infrastructure Leader Basing with Breakout Potential

Cannabis Infrastructure Leader Basing with Breakout Potential

by | Mar 13, 2022 | Chart SetUps

Innovative Industrial (IIPR) forming a tight multi-week basing pattern as a top way to play the growing Cannabis industry and above $197.50 has a large volume pocket to work higher. The base favors a move higher with RSI trending higher since bottoming in mid-January. The base is also occurring at its 21-week moving average and retesting a former high volume flag zone.