IGC is another cannabis stock that soared way too fast based on no tangible numbers. The Cannabis market will be a big market for sure. But the energy beverage sector is extremely competitive; we would have to see how the "Nitro G" can compete before the stock soars 1000% in a couple days. This is definitely the pumping phase, and it will come down.
Hello traders, There goes another mundane day in crypto, so I decided to look into more weed stocks and Aurora looks pretty juicy. Looking at 4 hour chart, Aurora just touched the descending blue trendline. In case of breakout, I will place buying order around $13 and get out around $15 which gives me decent 15% profit :) I would give 75% chance of bull...
I just typed up a big analysis and deleted it, so here we go, round two! Bulls today were in full control printing a bullish engulfing candle on the daily. Anything under 12.95 is a lower high on the daily, and I anticipate that to be set around $12.75. I would be very impressed if the bulls were able to break $13.00 psychological first thing tomorrow. The...
ACB held up very well today in the face of across the board sector weakness. 11.21 support is key to save the daily uptrend; I do expect that level to hold and I would then look for a tightening daily range and a lower high relative to 12.95. Volume offers no real red flags but RSI has broken support and shows the first signs of bearish divergence. ACB offers a...
I'm still impressed by the ACB bulls with their bounce hitting the very top end of my target zone, rejecting from the .786 fib pull just below $13.00 resistance. Having lost the hourly higher low pattern this afternoon I'm confident that our new daily lower high has been set. I'm looking for an equilibrium to form, and anticipating a higher low relative to 11.21...
ACB broke key daily support but bulls bought the dip and finished strong near the high of the day, completely ignoring the end of day dump by the sector leader on bearish news. Price bounced just below the .382 fib level from low of consolidation to our recent high. The daily volume was far less than I would have liked on this move, and so I expect a daily...
Solid consolidation after ABC correction followed by a spectacular breakout following the coca cola hype. Wouldnt be surprised to see this over 20$ in 1 month from now purely on momentum following fomo which is typical of any bubble
Technicals - CRON 9.78% broke out of a strong resistance today but failed to hold. Price is back within the parallel channel . In addition, RSI is diverging from price action. These are really simple, but strong bearish signals. Fundamentals - Following the success of Tilray 38.12% , CRON 9.78% soared two days in a row, breaking new highs. However, no...
This additionally proves that 24% fib is a thing as first shown in the hempco graph linked. Also looks to have completed ABC correction which could ultimately be a bullish signal. look for a good buying opportunity around 6.75 (I might enter higher manually) when it tries to fill that gap from 6.50 to 6.88.
3 ideas here showing bullish signals: 1. correction/consolidation looks to be coming to a close from falling wedge pattern. 2. Notice Diverging RSI (unconventional). As the price is falling, retraces upward are getting stronger and stronger. 3. Price action goes sideways while entering 38% Fibonacci resistance level. Volume seems to be increasing, volatility...
The Bollinger bands are very tight on ACB right now and we have been building a slope for some time now. ACB already tried to break out once but faced high selling volume. I really do believe this will be an easy trade though. I marked out the following Fib levels as targets. Depending on speed, I think we can see 11 USD again soon. The red line is for refill....
I had hypothesized earlier that hempco could find support at previous resistance level after being in a very harsh downtrend. now blasting upward through resistance on news of Aurora cannabis's investment, showing that the bulls are still very much alive.
Inverse head and shoulders pattern has formed on the daily chart for ACB. It has tested a bottom three times and has been in tight consolidating patterns for the last 21 days -- the longest period of consolidation yet in the stock's history. Bollinger bands have tightened signaling a nearing breakout, with bear volume reducing and bull volume increasing,...