Recently my eye has been on pot stocks and the broad ETF AMEX:MJ for signs of life. Most seem to have forgotten about these stocks after years of disappointment. That's when I get interested.
On a down day in the stock market at large Tilray NASDAQ:TLRY is UP on earnings. More importantly from a technical analysis standpoint the price had a beautiful hold...
Few have been watching or trading pot stocks since the 2020 rally based on USA Democrats taking government. That rally did not have legs and broadly the industry has fallen even further from the heyday of speculation in 2018. Naturally, when few are looking I get interested...
The recent March rally on AMEX:MJ which is the ETF of the sector made a new high...
Chart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 6.25 USD
tilray brands is another one of those stocks that has seen booms, and since declined to an extreme. we are far from changing the daily trend, but the hourly turn around looks like longs could take a whack at the lower 5s and upper 5s trading in the range that they are with a potential sell climax.
If you haven `t bough the stock here, at 0.57usd:
then you should know that Malta became the first European Union member to legalize recreational use and growth of marijuana.
Democrats overwhelmingly support legalization for both medicinal and recreational purposes of marijuana.
If the U.S. market open up, it could be a boon for SNDL stock.
My price targets...
A bullish wedge has been forming this year. With a positive earnings report first time in the company's history being made in November, the price is looking to break out of the wedge in the coming months.
Bullish.
This could be a big move in the Cannabis sector with a very broad Pennant/Flag formation setting up.
Great opportunity for another Reddit/Retail rally with the pending cannabis legislation being discussed and a strong technical price pattern confirming a potential breakout move.
Are you ready for another big rally in the cannabis sector?
As many of you already know, I've been bullish on HITI for quite some time, waiting for the right entry. This is one of my favorite cannabis stocks, and I'm bullish the cannabis sector overall. This may not be a quick play; I'm expecting to hold my cannabis stocks for quite some time.
On the daily chart, HITI made some lower lows, while the RSI made higher...
Another beautiful, long Falling Wedge on TLRY here since around March. After that huge run from TLRY, there was much selling and bearish divergence on the chart from being so overbought. The run up left many gaps in the chart and they needed to be filled before TLRY could even think of going for another run.
Bullish divergence seen on the RSI, RSI value is making...
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This is truly, your one and only chance to prove to your wife that your weed addiction is paying off. After awhile, she will join you, don't worry. You are just an early crusader, the pilgrim, the visionary and she doesn't know who she really married - THE LEGEND. This is your chance fellas don't blow it.
I mean look at this beauty.
I am holding this bag until...
With international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio. Cronos Group’s portfolio includes PEACE...
OGI - If you're looking for a low risk entry on the next potential leg up in MJ stocks, this has held for 3 months since entry and may want to leave this local range in the weeks ahead. Harmonic gave us the entry in Q2, now we wait a bit more it looks like.
First time in a long time that TLRY failed to close above its 200DMA. Despite this, it remains consistently trading around the 786 fib over the last few months. Without any fundamental catalyst, it really could depend on that industry at large. I think the whole MJ Bill was a buy the rumor/sell the news for what it's worth. Not a whole lot of range on the move...
It's always possible this pattern plays out bullishly as a bull flag, a directional shift in momentum will likely occur leading up to earnings or a sell-off afterward.
On September 1st GTII will report their next earnings, and the ending of this pattern is September 24th, Descending Triangles and Bullish Flags more often than not make a decisive move in one...
