This is the alternative harvest etf I watch as my cannabis index. Note on the Quarterly the market wasn't able to close below the 10 dollar mark. On the Monthly we are right at the price level we found strong enough demand to gain momentum for the major run up 2 years ago. On the Weekly we have a promising candlestick pattern. and on the daily were finding support at the 11.00 level with a Bullish engulfing candle for Friday.
Fundamentally, if you believe the stock market as a whole is overbought (which I do too), Marijuana, alcohol, and tobacco products make good bear market stocks. People use more drugs, alcohol, and tobacco products during economic declines than they normally would historically.
Trade active
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I posted a Trade for Canopy Growth Corporation. Check it out on my page!
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Looks like we might be at our first higher high/ higher low early in an accumulation range. Have been seeing bullish momentum in individual stocks..
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Still thinking were about to enter an accumulation phase, momentum indicators plus all my former reasoning is still valid.
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Showing some support now imo. Updated on my profile. Hope you all are accumulating too!
I’m also long on this. This market needs a little more Tegridy…
Tyrin808
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@ctoph2385 😂😂😂❤️❤️
DaddyPoolBucks
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@ctoph2385 tell ‘em randy
AJ-west
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Weed is half the price on the black market .
jsnow1111
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Of the three 'drugs' you listed.. marijuana is the healthiest
Echo3Charlie
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So....like....whatchu sayin is, if we buy, we gon get high?
jasonrappa
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There's an overall trend with marijana stocks that may be interesting to follow, but making an entry right now I honestly think is foolish.
2 years ago you couldn't go wrong, but the industry is largely unimpressive in terms of price movements to the upside, especially for larger companies like Tilray. With so much movement on speculative stocks already I would wait until the market maintains some stability.
wolffarchitecture
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@jasonrappa, Agreed, only after a good clear set up. MJ should get closer to 10 IMHO