ETFMG Alternative Harvest ETF
MJ tracks the Prime Alternative Harvest Index, designed to measure the performance of companies within the cannabis ecosystem.
The MJ Alternative Harvest ETF (MJ) has been rallying lately in relation to news on federal legalization and the SAFE Banking Act.
On August 30, 2023, the U.S. Department of Health and Human Services (HHS)...
TLRY dropped from a Head & Shoulders in the winter into the lows in June and July with a lot
of trading and accumulation as shown by the volume profile and its POC. Today TLRY
took off for a big gainer of a day. But why and
can it continue, The 5-minute chart shows plenty of volume support for today's move.
The 4H chart shows a scorching rise into the...
On the 2H chart ACB a penny stock appears to be heading down after an uptrend into
VWAP band resistance. The HMAs have put ina death cross and the lines are downward
and under the histogram. The dual time frame RSI indicator shows the lines falling through
the 50 level. This stock offers shares under $ 1.00 each and also put options. It is likely
not...
ETFMG Alternative Harvest ETF
We have been tracking the MJ ETF for many years now. Club members want to know when the price action turn around will happen as cannabis industries continue to boom in the US while congress seems to be stuck in the mud regarding the legislation needed to move forward with a legal federal charter. 100s of billions of dollars worth...
BCAN is a microcap in the AI serving the cannabis industry. It's software is patent protected.
It is currently trading at less than 25% of its all time high and has a history of volatile spikes.
This is a low float stock with insiders holding significant positions.
On the one hour chart, in the past couple of days, price has descended from the POC line of
the...
NASDAQ:SNDL
Cannabis Stocks are mostly all on uptrend today.
See my other ideas regarding POTX and TLRY.
Being priced low, more retail traders can enter this symbol which is speculative
but is helped by sector movement as well as the market at large
( at least until the Powell Jackson Hole speech on Friday )
Shout out to Wolf of Weed Street ( Jason ) !!!
With a news catalyst, of the pardoning of all cannabis possession federal convictions,
POTS put in some wide range green candles to celebrate the increasing sediment towards
federal legalization.
As the 15-minute chart shows, a downtrending line was broken by price and then retested.
The setup is ripe for a swing long at this time. I see the constituents...
POTX as shown on the 30 minute chart
is showing an ascending megaphone pattern,
a reflection of increased volatility,
The price is sitting on the lower megaphone support line
and the RSI shows weakness.
Green up arrows show each time the price has touched the
support line it has reversed to the upside. The same for the RSI.
I see this an an excellent swing...
Love this here for a longer-term play
As mentioned, weed has been off the radar and we have a nice entry here for a swing.
LONG LONG LONG AND HOLD THAT SHIT FOR GENNY WEALTH
This is an update of a previous recent idea. The MJ composite has had
a pullback and shows bullish RSI divergence. It is at support and has
various resistances dynamic and stationary above. The time is now
to analyse the preferred symbols / stocks within the composite.
( Alcohol thrived during the Great Depression, no reason not to assume
that cannabis...
Today a bunch of cannabis stocks showed up on my screener with
some good price action and high relative volume.
I set up a composite chart using some of the more heavily traded
stocks but no OTCs as well as a couple of the ETFs and the
REIT IIPR which manages and leases indoor cultivation farms.
While I found the composite price had been drifting...
- Liking this set up. Green box has to hold and push price out.
- Blue is a potential way out but as long as the low of that green range holds I think we have a nice base to push to purple high and potentially higher.
- Also, the entire weed sector has been SILENT. Not one word. Could be the beginning or something but who knows...
MJ etf is looking like it broke the weekly downtrend after weekly bullish divergence. However, the week is early and it doesn't mean it can't go lower and retest the trendline under 6 dollars again - it can.
Regardless, MJ stocks might be in a bottoming "area" and are worth a watch. Targets as of now 8.50 and 10.50 on the MJ etf.
TLRY breakout with daily bull divergences and now others catching a bid. Watch the MJ sector for out performance if the stock market has that rally to 4100. Enjoy
All in the video, nothing to buy yet, but there are some signs of strength this week even with the market tanking. Tickers covered - MJ, CGC, TLRY, CRON, MSOS
