We witnessed the impossible last week with the Democrats taking control of the Senate. Technical, fundamental and political environments are in perfect sync and there will be a cash grab by institutions very shortly for all MJ stocks.
HIGH TIGHT FLAG pattern has been detected for APHA. This is considered a rare and extremely bullish pattern (what happened to Zoom during Covid lockdown). It begins with the SP moving 100-120% in <8 weeks (1st pole), followed by no more than 25% pullback <5 weeks (flag/pennant), followed by quick retracement. Once the pole is broken, a 2nd pole is formed which moves 50-60% within the same timeframe as the 1st pole.
I noted APHA’s numbers on the chart. TP is $13 in 35 days. This pattern was also detected for CGC ($44 TP), VFF ($18 PT), TCNNF ($47 PT). If you own any of these stocks, DO NOT SELL. Institutions will be fighting over these stocks which will drive the SP through the roof.
Validation on my hypothesis needs to happen Monday/Tuesday, Jan 11/12! Volume and price movement must be massive otherwise pattern will fail. If Fed gov’t cooperates and MORE Act passes with ease, this pattern will continue to repeat.
Check out US Steel, currently forming its 2nd pole. TP $30 by end of this month.
HIGH TIGHT FLAG pattern has been detected for APHA. This is considered a rare and extremely bullish pattern (what happened to Zoom during Covid lockdown). It begins with the SP moving 100-120% in <8 weeks (1st pole), followed by no more than 25% pullback <5 weeks (flag/pennant), followed by quick retracement. Once the pole is broken, a 2nd pole is formed which moves 50-60% within the same timeframe as the 1st pole.
I noted APHA’s numbers on the chart. TP is $13 in 35 days. This pattern was also detected for CGC ($44 TP), VFF ($18 PT), TCNNF ($47 PT). If you own any of these stocks, DO NOT SELL. Institutions will be fighting over these stocks which will drive the SP through the roof.
Validation on my hypothesis needs to happen Monday/Tuesday, Jan 11/12! Volume and price movement must be massive otherwise pattern will fail. If Fed gov’t cooperates and MORE Act passes with ease, this pattern will continue to repeat.
Check out US Steel, currently forming its 2nd pole. TP $30 by end of this month.
Trade active:
I sold 50% of my APHA shares yesterday and 80% of TLRY. Technical indicators for APHA are strong but OGI’s ER miss really skeezed me out. OGI may be a small player but their performance may be a preview of things to come for the rest of the sector. It sucks that APHA is next in line to report but if they miss, the vultures will be out in full force. Since TLRY had a greater run, it will bomb harder. If APHA beats estimates, the premium I’ll pay would be worth the assurance.
My gut has served me well in the past but good luck to anyone holding through.
My gut has served me well in the past but good luck to anyone holding through.
Comment:
APHA and TLRY OVERHEATING.. WATCH OUT FOR SHORT TERM PULL BACK