TLRY up because it is a cup & handle pattern and it just looks so perfect. It matches the .618 retrace and it is amazing how it looks to fit so perfectly. We closed literally at the fib. Wow! This matches the fib level of the cup & handle, handle I linked. You can see how we are in a channel and that we are going to target 1 around 11.23, which would be around the...
What Does The Death Cross Tell You? The death cross occurs when a short-term moving average (typically 50-day SMA) crosses over a major long-term moving average (typically 200-day SMA) to the downside and is interpreted by analysts and traders as signaling a definitive bear turn in a market. The opposite of the death cross occurs with the appearance of the...
Evening Traders, Today’s Technical Analysis will be on CGC, bouncing of its all-important weekly support, currently facing resistance from the 21 EMA. It must break daily support, or this is simply another lower high. Points to consider, - Macro trend bearish - Weekly support respected - Daily resistance is a key level - RSI coming of oversold - Stochastics...
I am dubious as to why Hexo doesn't have cannabis beverages on shelves in Quebec where "only" Hash & Cannabis Beverages are allowed as 2.0 products, or elsewhere in Canada when they have a Alcohol company like Molson backing them & involved in a JV via Truss? I just don't see why this pattern would play out bullishly when the company is diluting shareholders &...
There's also merit for a another Inverse H&S to play out here, after a few more trading days next week we may see the shoulder continue to develop or a retest of the bottom upward sloping line of the Ascending Triangle, which would also negate the inverse H&S narrative, but the bottom of the ascending triangle could still hold & result in a bullish outcome, keep...
ACB is going to 8$ this year.. 0.618 FIB retracemet
With earnings approaching next week & a new CEO that comes from STZ who also happens to be an accountant, I wouldn't be surprised if $WEED financials are becoming chaos in order. Only time will tell, but this could end up being a giant bull flag as well. The 200 Day MA isn't that far away either, but on the RSI is looks like a H&S is forming.
This is the "exact" same chart from the other day but on a 6 month line chart; which only shows the daily "closing price" as opposed to the 1 year time frame candle chart I posted on Feb 6th which shows more trades. Notice where the rejection point came into play on Canopy's parabolic price move on Friday? The downward sloping trendline of the descending...
It appears as though the 200 Day MA is acting as the floor of the descending triangle or bullish flag.
Got my flag patter wrong but it looks like there's a small pullback. WILL BE LOOKING FOR CONFIRMATION
Possibly a descending triangle? A pennant is a continuation pattern in technical analysis formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines - the pennant - followed by a breakout movement in the same direction as the initial large movement, which represents the second half...
ACB is finally breaking out of its bullish flag in what may be the start of a decent rally. Good low risk entry is still possible.
Hello Traders! Today’s chart update will be on OGI where bulls are promptly trying to change the bearish structure; key levels must break for a trend change to come to fruition. Points to consider, - Trend structure changing - Local support being held - Structural resistance to break - Stochastics in neutral territory - RSI diverging from price - Volume...
NYSE:ACB looks very interesting since mid January bottom. Good odds that similiar pattern (inverted H&S) will be playing out, as it was the case before with NYSE:CGC , which is rallying nicely since its breakout in early December.
Tough day for APHA - wiped out this week's gains. Their cash influx didn't surprise me, poor timing. Thought the daily trend might hold. Sitting on the 50 retrace. Still bullish.
Or possibly a bull flag, but currently EXP is trading at all time lows & down -90% since late 2017 highs, so there's merit for a contrarian bottom fishing buy here. I recently bought one of their premium flower brands "Citizen Stash Mac-1" & its THC content is 25.6%, which is the highest I've seen on the legal rec Canadian market & I've been in dispensaries all...
Wow, great trend, much support. Hey, I've said it before I'll say it again, I'm no technical analysis guru. I think most of it is hooplah. Have you ever heard of the guys on Wall Street who threw darts at random stocks on a wall and those picks ended up performing better than most professional hedge fund managers? Yeahhh, exactly. I personally don't believe in...
WEED just bounced off multi-year support dating back to 2016, breaking above the bearish resistance it's been fighting since April of 2019. Weed pennant accumulating should break out soon, which considering the strong correlation ACB has shown to WEED, would lead me to believe ACB should follow suit.