MPXEF is now the third largest publicly traded cannabis operation by quarterly sales. Only WEED and ACB have higher sales. It leaves CRON, TLRY, and TRST in the dust when it comes to already-reality sales. It also trades at a nice discount to those other more famous names on a sales-basis. It also has not yet run much this MJ season. If you want something...
Scaled back in, didnt dump like I thought it would, took profits though.
Support around $5 has held. Stock bounced off that area 3x (triple bottom) and is now north of 100%. Stock broke out of $8 resistance and seems to be heading for January high of $11.90. Bullish!
Legalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares. Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of shares doubled in...
Legalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares to raise more money . Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of...
I have compared Bitcoin with 3 major Marijuana/Hemp stocks. Bitcoin seems to be paving the way for the MJ industry by about a week to 2 weeks. Will this pattern hold up and will this be a good indicator in the future? (Bitcoin is the black line)
Cron might be about to 'get high' it looks like it is losing downward momentum on the MacD indicator, the RSI line is nearing the bottom and it is also getting closer to the bottom bollinger ban. It might still have a few days to go in order to hit bottom but price looks like it is already starting to level off from the down swing. Might be a good entry point....
Aphria breaking out of downward channel, bouncing off support at $7.50. Buying volume looks good, and when there are sell-offs it is on much lower volume. Breaking out of resistance and closing above $9.95 will be very good for the mid-term, closing above $10 will break huge psychological barrier and probably lead to a nice run up long term. Aphria is a great...
Aphria is breaking out of a downward channel and has repeatedly bounced off support in the $7.50 range. If we can close above 9.90 on the 4 hour chart, although there may be another couple of down candles I suspect a cup and handle will form and we will see price enter solid up trend with stronger buying volume. Aphria is one of the few profitable marijuana...
I have compared the growth of Hemp Inc. with 14 other marijuana companies and they are spot on. It will be interesting to see what this year has to offer for the MJ industry.
I think Cronos has found solid support off the 200 day moving average on strong volume. I am definitely long medicinal and recreational marijuana companies in both Canada and US, but you have to stick to those with solid fundamentals and long term strategies. Cronos has shown attention to detail in both arenas and is continuing to build its portfolio.
I believe I have found a connection between Bitcoin and the MJ industry. When comparing BTC to APH I have found stunningly similar trends but Bitcoin seems top make the first move by almost a month. I have placed alphabetical reference points to show the comparison. Since BTC seems to be ahead of APH by a month, I went ahead and placed the next trend...
Short term bullish if technical break of long term apex with high vol MACD curling Entry @ $8.00 Stop loss @ $7.50 Exist @ 9.20
Since the last update WEED has been correcting within the triangle that I had defined, slowly making its way down and bouncing really hard off the upward trend line, taking it to the top of the triangle and closing on the 61.8% Fibonacci retrace. There is some resistance at this point as it will try to break its way out of the triangle for confirmation of a...
As we successfully came back into the triangle, but got rejected below the downward trend line, respecting the 50 day moving average as resistance. It has now re-traced back to the 61.8% Fibonacci line, where it sits with indecision as I write this. There is some light support that is now holding us, but it won't take much volume in the wrong direction to see a...
CMED has joined WEED in it's journey through the triangle, looking for any support it can get at the 200 day moving average. Continuing downward, a re-test of 28.00 and further are likely. I have indicated any remaining support or possible rebound zones. Thanks for viewing my charts!
We have officially fallen below the upward trend line and out the triangle, stopping right at the 50% Fibonacci retrace, which was to be expected. From here, there is not much left for support. We could bounce and come back into the channel, but a re-test of ~23.75 is more likely, and subsequently a re-test of the 38.2% Fib if support cannot be found there....
After the correction and a trace all the way down to 25.34, we can see that it closed twice right on the current upward trend line and bounced. It is currently holding above, in the support and resistance channels that I have drawn on the 4H. Conviction does not look very high however, as it was looking to come back down again, but it got rejected just above the...