Hey traders, in the coming week we are monitoring CANNABIS for a selling opportunity around 1950 zone, once we will receive any bearish confirmation the trade will be executed.
This is just a thought here - although this appears to be a never-ending downtrend, I wonder if this on-balance volume divergence signals something. This shows that buyers are willing to step in here a bit more aggressively than the previous "bottom," as shown by higher OBV despite lower prices - even though OBV has declined overall since its peak. We're also...
The technical figure Pennant can be found in the daily chart in the US company Altria Group, Inc. (MO). Altria Group, Inc. (previously known as Philip Morris Companies, Inc.) is an American corporation and one of the world's largest producers and marketers of tobacco, cigarettes and related products. Altria is the parent company of Philip Morris USA (producer of...
With a news catalyst, of the pardoning of all cannabis possession federal convictions, POTS put in some wide range green candles to celebrate the increasing sediment towards federal legalization. As the 15-minute chart shows, a downtrending line was broken by price and then retested. The setup is ripe for a swing long at this time. I see the constituents...
FSD Pharma and it's subsidiaries have progress in advancing their three drug candidates (PEA, Lycid Psych. & Lucid-MS) through clinical phases. After partnering with covar pharmaceuticals and Acquiring Lucid Psycheceuticals (subsidiary of FSD pharma Inc.), HUGE was able to recently purchase a new facility in Cobourg Ontario (CAD $17 million) which will be closing...
CCHWF looks like it might be coming out of its' shell by having to potential cycle correction that leads not only into an impulse, but doing so with the help of a newly formed Head and Shoulders . If CCHWF can muster up some more volume on the bid side, the volume profile shows a gap up from $2 - $2.48 with the added potential to kiss $2.63. If that happens, I...
This is an update of a previous recent idea. The MJ composite has had a pullback and shows bullish RSI divergence. It is at support and has various resistances dynamic and stationary above. The time is now to analyse the preferred symbols / stocks within the composite. ( Alcohol thrived during the Great Depression, no reason not to assume that cannabis...
Seeing the growth and innovation that has occurred in recent months shows that the big wave is incoming. This formation clearly refers to pull back and bottom. Even one of the most conservative countries of Europe; Poland has given the Market Authorization to Tilray, Inc. (TLRY). Also, the election vibe has been taking charge of global media, federal legalization...
Today a bunch of cannabis stocks showed up on my screener with some good price action and high relative volume. I set up a composite chart using some of the more heavily traded stocks but no OTCs as well as a couple of the ETFs and the REIT IIPR which manages and leases indoor cultivation farms. While I found the composite price had been drifting...
- Liking this set up. Green box has to hold and push price out. - Blue is a potential way out but as long as the low of that green range holds I think we have a nice base to push to purple high and potentially higher. - Also, the entire weed sector has been SILENT. Not one word. Could be the beginning or something but who knows...
We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low. Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course...
- So we failed that last one, but as I said, I'm willing to give it a few attempts. Nice volume coming in and with price moving higher I'll get much more confident. - It's holding that gap down pretty nice at the moment. Buy now with risk to lows I think is a decent trade, which you can add to with more pullbacks, but I kind of want something tighter a little...
Columbia Care Inc (CCHWF) looks to want to settle the impulse correction and close out the cycle, but will it? While the rest of the cannabis sector looks to pivot near the 8/08 - 8/15 date, Columbia Care appears to be in a great position to not allow it to NOT sink too low. I still would expect to see a price drop another 23%, but will try and hold it above...
After near perfect prior Verano Holdings Corp. chart analysis, from deep (6 months in the making) price prediction and wave theory, I return to update the VRNOF cannabis chart forecast. What appeared to be an early to mid August bull run still looks like it could play out, but this marijuana stock ticker (likely others) will want to sell more, leaving me to...
AsvisorShares Pure US Cannabis ETF (MSOS) has been on a rampage and never shying away of selling off more than expecting, leaving pretty much the whole cannabis sector carrying the dead weight of a massive basket of synthetic weight, expelling a lot of investors and leaving the rest holding major bags from a short attach which started almost over 2 years ago...
NTI --1 year accumulation/consolidation range --Potential bull pennant forming. --Hidden Weekly divergence watch list for now.. looking for a break in direction A or B what direction do you have and why ?? -Landmark study into paediatric ASD (autism spectrum disorder) has now progressed to the to pivotal drug registration stage. -NTI164 is one of NTI’s...
Despite tailwinds for Cannabis legalisation in US, the technical chart of TCNNF shows potential retest of 14.5$ region in the near term. This could be a good position for a long swing trade. Disclaimer : Educational idea and not a financial advice. I own long positions in TCNNF and will add on dip around 13.5 to 14.5$ if it goes there.
TAKE A HIT OR LET IT SIT? While hitting my weekly, and daily targets, like most cannabis tickers, TRSSF oversold on May 4th, 5th and 6th. This overselling now pushes this weight down more than expected. (Last chart analysis <4/18/22> : image below) Very hard oversold after 3rd - 4th alternative correction. This will force 5th wave lower than last...