After what seems like a never ending cascade ACB and many other MJ sector names are entering major support zones for accumulation. This is where I am looking to enter positions for maximum Risk/Reward. Calculated entries are laddered at daily gap zones inside of this box with half of a position and another half is waiting to be deployed on a move up & out of this...
Canopy Growth Company. Pretty clean bullish BAT forming on daily. It might be hard to see so zoomed out, but $CGC also broke out of an iH&S pattern with the largest amount of Daily volume in over a year! Looking at the Fib levels, $CGC retraced to a tad below the .786 level, but then it shot back above forming the Head of the iH&S. Some bullish divergence on...
Cannabis stocks have been gaining from the start of this week. Technical analysis RSI has been trending upward, but OBV has not, creating a bearish divergence. /Bearish We saw the same three candlesticks ending on November 21st, 2019, leading to a strong pullback. (Red circle drawn in chart). /Bearish Fundamental analysis Since May 2019, cannabis stocks...
Aurora is a good gamble, it cannot go much lower Fundamentals suck now, but this stock has shown to go on massive pumps. Wait for the pump!
The retracement touched the 78.6% retracement level and now shows clear sign of recovery. The bullmarket for cannabis could might be coming to an end (smoking potential). Stoploss at lows gives a great risk/reward.
TICKER: $CGC Will history repeat itself? Just like last time, CGC is again a daily inside bar with resistance of $20.28 and support of $19.65. I do expect high volume on Monday, but the break is uncertain until it happens. Don't be bias and watch the charts because price action is KING. I will be watching CGC closely next week and again, will either go long or...
looks like a good setup for a swing up towards 40s - Market sentiment seems to be slowly changing. Farm payroll on watch w/ fed still dovish. Pot industry still a few years ahead of itself - so trade wisely. I see this as a win/win, if the market turns - it's a solid spot for a beginning entry position and I'll plot out a long hold - IMO. Been riding the...
Since my post several days ago linked to this chart, you'll notice $WEED is holding the neckline area of the inverse H&S, forming two additional patterns known as a bull flag & descending triangle. Seeing how the sector has thrown under the bus for the better part of 1 year, I'm expecting to see the Bull Flag play out.. Simply to go against the bearish narrative...
It appears as though the Inverse H&S may be negated. Where I've placed another arrow pointing down may become another lower high, and it may act as the left shoulder of a H&S.
Or was the recent move simply another lower high where i have the red arrow pointing down? It appears as though Canopy may be ready to break the neckline of this inverse H&S. The RSI may have double topped though, only time will tell.
Pot stocks have had a rough few months, and shareholders of Tilray have been hit especially hard as shares have dropped 55% since early August. Much of that decline can be traced to disappointing earnings results. In mid-August, Tilray showed sales growth in Q2, as revenue jumped nearly 400%. However, management's aggressive spending produced net losses, and...
Or did he? I mean, technically Drake could have been invested in Canopy for many years now, he's a very business savvy guy, not just rapper / icon. So who really knows what his average cost is. Anyway, on a 3 month & 6 month chart we can clearly see lower high after lower high, and this recent move may become just that, another lower high... The rsi is very...
Price action suggests sellers can come back. RR 1:1.8
Finding support here on a large scale, First Target at weekly resistance, I think they will take it off schedule one or something will be the catalyst to get them flying again.
looks like this stock is primed for a dead cat bounce on longer timeframes but short term rising wedge has appeared. This can still breakout but if there is a breakdown with some good volume id cut my losses and find a better entry point around 15-18$ region.
A new sideways trading range is developing. Insite provided by Invest In MJ
$CGC Cup and Handle formation complete. Now in equilibrium mode between 28.74 & 27.85, form a higher low / lower high and then run to close the gap at 29.62 then comes 31.97$.