It looks like Tinley is trading in another descending triangle.
Maybe a bull flag as well, but the no news trend is likely to lead to the descending triangle playing out first.
Time will tell per usual.
Looking at Tilray with the MACD and Megalodon indicators, we can see a buy signal on the daily for Tilray. Something that we've seen only twice before, both times being the start of significant rise. The Daily MACD doesn't have as much room to turn as did previous signals, however it does look a lot sturdier and supportive. As of right now though, we cannot...
Is Curaleaf going to shake off the FUD from the FDA & continue crush the U.S market.
I think so, although they may have stepped over some boundaries with promotion / labeling & making claims on some of their cbd products, it doesn't change the position they have in the U.S with distribution.
It looks like CURA may have found a double bottom?
Time will tell per usual.
HMLSF has been in intermediate downtrend since Oct 2018 and is nearing very strong support zone. This Marijuana ETF boasts a 4.6% div yield w/ $800M AUM.
This might just be one of your best bets for playing the industry "Safely" if you're looking for exposure to the industry.
Or, is more pain ahead for TGOD in what appears to be another descending triangle!
TGOD is down roughly 60% from its ATH's.
TGOD is down -52% in the past year.
TGOD +32% YTD
All Time Performance for TGOD -42.33%
Price target of 35c!
Time will tell per usual
And I don't think that dead cat bounce will hold if retested as a bottom.
Nom Nom Nom.....
Now we know why the last 3 Auditors left the company & they failed to report financials, they were ugly!
On Friday, May 31, a solid two months later than initially required, they reported a sh!t show. Then the stock tanked 18% to trade 80% lower than the 52-week highs...
The news release from Tinley today was enough to test the resistance level at roughly 85c to 86c, which is the top of an Ascending Triangle!
It would be nice to see Tinley break through this resistance flush tmrw, Friday, or possibly next week & consolidate above the Ascending Triangle.
There's not much resistance until 1.13$ CAD if Tinley can breakout of this...
High of yesterdays bounce need to break for bears to gain control
-look for daily lower high compared to 9.83 if hourly breaks bullish over 9.35
-further downside if hourly breaks bearish under 9.15 during regular hours, next support on the daily at 8.08
-broke key support 17.71
-resistance 18.46 (high of yesterdays bounce)
-lack of weekly support if 17.71 breaks
-bulls need to break 18.46 on the hourly
-look for daily higher low to form under 21.10
Tightening hourly range
-hourly support: 43.66, 43.35
-hourly resistance: 44.85, 45.35
-if hourly breaks bullish, look for a daily lower high compared to 48.60
-if hourly breaks bearish, next support at 42.91 then 41.68
I looked once last time after utilizing the 50, 100, and 200 moving averages and adding a massive Elliot wave that encompasses months worth of price movement. The good news is that no matter how you look at it, this stock is bouncing predictably off of the upper and lower price channel and showing a general positive movement. Those 50,100, and 200 EMA's along...