Vivo Cannabis Inc (VIVO.V) Chikou Sliding Below the Tenkan

Ichimoku traders are closely watching shares of Vivo Cannabis Inc (VIVO.V) as the equity’s price has tipped below the Tenkan moving average line, creating an environment ripe for a potential near-term reversal. The chikou span represents one of Ichimoku’s most unique features; that of time-shifting certain lines backwards or forwards in order to gain a clearer perspective of price action. In the chikou span’s case, the current closing price is time-shifted backwards by 26 periods. While the rationale behind this may at first appear confusing, it becomes very clear once we consider that it allows us to quickly see how today’s price action compares to the price action of 26 periods ago, which can help determine trend direction.  The Ichimoku Kinko Hyo technique offers the chance to obtain many different types of operating signals through the use of a single graph. As for all trading techniques, when we are using the Ichimoku Kinko Hyo for our operations, it is always advisable to take into account other elements (volumes, sentiment, seasonality, oscillators, etc …), but certainly the immediate graphic  understanding of the trend and its evolution represent the strongest point of the Ichimoku technique.

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