CGC saw a big gap up and huge volatility in the opening minute with a range of more than $1, before an aggressive dump spanning 20 minutes and traders took profit, knocking the stock down 12% immediately. CGC bounced off the low of the day pennies above that key resistance we broke Monday for the equilibrium bullbreak - 51.21 former resistance now support, with...
ACB saw a big gap up and a big push in the first few minutes, followed by an aggressive dump spanning 20 minutes as traders took profit, knocking the stock down an immediate 16%. ACB bounced just five cents above former resistance 13.60 - former resistance now support. The RSI also rejected from a downtrend line spanning the last few weeks. The MACD on the...
APH saw a higher open this morning and broke the daily inside bar bullish but remains within its hourly equilibrium. The daily bull flag setup remains as the range gets tighter and tighter. MACD is curling up and we want to see a clearer spike tomorrow and increasing volume. Bulls are trying to hold 19.79 as an hourly support but we're far from convinced...
ACB saw a gap-up and run open this morning on big bull volume, continuing the daily breakout from Friday and finishing the day up 10%. ACB hit a new all time high today by two pennies but that's effectively a doubletop at 15.22 so the bulls are going to need more follow through tomorrow. That shouldn't be an issue, with a close up near the high of the day.We're...
WEED had a gap-up and run open this morning on massive volume, breaking our daily equilibrium bullish and finishing the day up 13%. WEED rejected from all time high today although the American ticker certainly smashed that level, but we still closed pennies off the high of the day. After hours trading saw CGC hit as high as 58.44. We're riding well above the...
CGC had a gap-up and run open this morning on massive volume, breaking our daily equilibrium bullish and finishing the day up 14%. CGC set a new all time high today, easily busting through the old level and closed at 56.89, just pennies below the high of the day. After hours trading saw Canopy hit as high as 58.44. We're riding well above the daily Upper...
TGOD daily has now pulled back almost 50% from its recent all time high last month and has been very weak in a sector that's holding up reasonably well. I can only speculate as I am not a fundamentals guy but I attribute this to two things. First, the uncertain future of the greenhouse its constructing in Ancaster, and second the decision Aurura Cannabis faces...
After a huge move on reports of an investment by a tobacco company, APH is trading in a 4hr equilibrium with multiple daily inside bars. This is one of my favourite setups. As expected we have decreasing volume on this consolidation. The range to watch is today's range; Break 19.00 bearish or break 20.00 bullish. Note that 19.00 would not break the equilibrium...
Yesterday I pointed out that ACB needed to regain the hourly uptrend as a sign for a continued bull move. Anybody who acted on that signal had a very profitable day today! The key was 12.98 and if you bought that you would be up 6% already! ACB has been the most bullish chart for a couple weeks, and today saw that play out with a key break. The key daily break...
In the past few ideas I've been pointing viewers to the intraday charts on WEED and I'm no longer doing that. The price action remains so choppy within this range I've become convinced there's no use for it for the pattern. We now have two green days in a row, but because Oct 11th had a much lower open, we still don't have two "real" green days in a row - where...
HEXO is forming a daily equilibrium with a tightening range just under its all time high. Our current lower high appears to be set at 8.80 and the bulls are now looking to set a higher low above 7.71, currently a double bottom. I'm a big fan of this setup so close to our all time high because of the lack of overhead resistance at this level. We've now spent 15...
APH gave us a daily inside bar today as one could expect after such a volatile day yesterday. Our pattern is clearest on the 1hr chart as we see a tightening equilibrium. We have our lower high at 20.50 and the bulls are now searching for a higher low; a new base of support above 18.60. The daily chart is currently in a bull flag setup and to confirm the bulls...
ACB looked to be trying to print a daily bull flag but the pullback today and close near the low is more than enough to negate that in my mind. I find the clearest picture on the 1h4 chart where we have a clear downtrend of lower highs and lower lows. Our lower high of resistance is the high of the afternoon bounce 12.90 and high of the day 12.94 but really...
WEED has an inside bar on the daily and the daily chart is a little clearer here than it is for CGC but I still prefer the 4hr chart for the big picture. Our key support is 60.55 and key resistance is 64.99. I'm very impressed how well the entire mj sector is holding up in the face of market weakness. That said... For anybody looking at any stock keep an eye...
CGC looks to have set its lower high in our 4ht equilibrium today at 48.34 but we haven't yet pulled back enough to make us confident. For me, the key resistance is still 49.88. Support in our pattern is 45.01. I find the clearest picture here on the 4hr chart, as smaller timeframes are choppy and the daily chart is very unclear. I'm very impressed how well...
CGC's short term direction will be decided on the ongoing equilibrium on its 4hr chart. The key levels are 46.63 support to 50.99 resistance. Our lower high may be 49.88 if looking at the details of the 1hr chart. Expect choppy action in this right range. 46.42 is the must hold level to maintain the daily uptrend the bulls just took back. For anybody looking...
ACB may have found it's new base of support at 12.75 when it broke the lower high pattern on a move that topped out at 13.45. We're looking at the hourly chart here as it offers the most clarity for me. I'm anticipating the bulls to form a higher low above 12.75 and will be watching the pullback for size and volume to consider the liklihood of forming an hourly...
APH had a solid move today on the back of a report of a potential investment from a tobacco company (yuck!). This is the most volume APH has ever seen, we we broke numerous resistances on the way up. There is no support here at these levels to be very careful if making any bullish entries. Daily support is at 15.93. Key resistance is high of day 20.70, then...