Been a while since I've done an update on MJ so here it is & man does this look ready to rip! 200SMA X 50SMA Squeeze watching for the golden cross-up! Accumulation is the name of the game, I cant see this heading anywhere but up from this point! This chart is TIGHT, imho we should see some decent moves in the mj industry in the near future. Price alerts above $15...
The Searching of a PotStockBottom II NASDAQ YEWNO NORTH AMERICA CANNABIS ECONOMY INDEX NASDAQ:NQNACE RENKO PriceLine Chart RSI RSI + MFI
Canopy appears to have broken the base line of support of a micro Head & Shoulders, the blue line is where I have the base of support for the pattern. The RSI is starting to creep into an area where WEED has seen support, the green arrows pointing to the right is what I am referring too.
Possibly a Ascending Channel , but on the RSI there is a noticeable divergence.
TNY has seen some consolidation into an Ascending channel, which is another Bullish Pattern coinciding with multiple other bullish patterns that have played out recently. Noticeably the green bullish flag I have outlined is a recent bullish pattern, and there was also a giant inverted H&S that played out to the upside, the right shoulder being the green bull...
Canopy had a massive 40x run from 2015 to 2018, and has since been in a prolonged correction. Starting to look like a bottom is forming around the $10-15 range. I began averaging in and plan on building a core position over the next 6-12 month. Looking for a 10x move to $150 area on this upcoming cycle.
Looking at a potential low risk high reward play here. Although i pointed out the previous bull run above, I don't expect anything close to that happening at all. We are currently under a death cross and earnings are coming up, note it usually dumps at earnings after all-time-highs. This is a company I am looking at long-term though so I will buy small at this...
CRON has broken out of the descending triangle pattern (reversal) with a strong bullish candle (+21%) on 6/8/20. This is an interesting setup since the descending triangle chart pattern seemed to form at the end of the downtrend. Over the last several months pot stocks have gotten hammered. Some stocks even falling +90% during the bear market. The fundamentals are...
On a micro trading level APHA appears to have formed a bullish flag pattern, but the top resistance of the bullish flag is the same resistance of a more macro Ascending Triangle. Interesting. The breakout to the upside will be modestly significant in terms of shaping the macro trend, IMO.
The RSI is displaying a bullish flag pattern that is currently breaking the downward sloping resistance, meanwhile, the Inverted H&S pattern is noticeability visible on the RSI as well.
Potentially a Ascending Triangle as well, but we haven't seen a retest of the blue upward sloping support, instead Canopy has created a series of higher lows forming an inverted head & shoulders, next week will confirm the trend. An inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but...
ACB has been on a nice bullish uptrend since the 12 for 1 stock split, that was a great move on their behalf, however, it is interesting to see them buy a U.S asset & issue shares immediately after lol. An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in...
CUSP.P has been hiding under the radar since Bruce Linton & the CFO of Cronos joined last year, I wonder what cannabis-related ventures are awaiting announcement? An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends An inverse head and shoulders...
Evening Traders, Today’s Technical Analysis – CURA – holding a key support with the current volume clearly declining, a move will be imminent with a subsequent influx. Points to consider, - Macro trend bearish - Resistance confluence - Structural support being tested - RSI above 50 - Stochastics projected down - Declining volume CURA’s overall trend is...
I'm firing long on ACB. I like the chart setup. I'm aware of the reverse split on may 11th. We will see how it plays out. Wish me luck! 😁
Last post on MJ Alternative Harvest we started we were opening longs @ $11.90 Currently sitting up 5% We took this position based off the large timeframes, the weekly and 2 week. Now you see a breakout with a settlement back on old Resistance to test as support. Key is to play this as support. If it shifted right and than turned to break support back below...
Canopy Growth Corp(CGC) closed at $17.53 gaining $1.94(+12.44%) on the trading session today. Price closed above the 38.2% Fibonacci retracement level which had been acting as resistance for the past month and is bullish move considering how long it was pegged below the 38.2% level. While this is a bullish move, we need to see price close above the 50% Fibonacci...
Symbol: MJ The cannabis sector. The holy grail of money to be flooded to. These cannabis prices are insane. I've been wanting to buy into this ETF but clearly this has not been a good sign in a while. When market corrects I think the cannabis sector will take off running. Will keep watching to see if it wants to correct lower. Obviously I'm on the weekly so I'm...