Aurora has a much weaker setup, and looks clearest to me on the hourly chart. Unlike Canopy, Aurora has broken down to lower lows although bulls are still buying the dip so far. Friday closed with weakness heading back down towards the end of the day. We remain in a clear hourly downtrend with lower highs of resistance on each little bounce. The bear breaks on...
Heading into next week I'm still watching CGC in a 4hr equilibrium. Our key support is a double bottom of 37.32 and 37.35. Canopy finished the day with some weakness looking down towards that level after setting a lower high of 40.37, our new key resistance to break. We can see the 12EMA on the 4hr driving the price down continually since the all time high on...
ACB is the weakest 4hr setup of the three names I typically follow in the mj sector. We're in a 4hr equilibrium but the bulls are not giving any confidence here, having failed to even set a lower high the way Canopy and Aphria already have. support to hold is 9.14 and resistance is 11.29. A break of 9.14 support area and we're looking down towards 9...
The post-legalization sell-off may or may not be over, and I'm watching CGC 4 hour chart for clues. We're in a 4hr equilibrium and the support to hold is 37.32 and resistance is 41.06. A break of 37.32 and we're looking down towards 36.62 low of the dump and then 30.20. A break of 41.06 resistance and we're looking to set a daily lower high, compared to the all...
Bearish everything MJ but tlry no speaky clear path. Patience will be key. Bullish and bearish target represented by black lines.
So the entire cannabis sector is getting absolutely hammered after the Canadian full legalization "event" on October 19, 2018. This "event" is a non-event in my view as there is/was no new information brought to the surface. All info was known ahead of time. Therefore the correction of the recent rally is fully warranted. What I am seeing is that from the August...
Medicinal ETF and Bitcoin
Taking a different approach today, starting with the long term weekly chart and we're at risk of losing the weekly uptrend that's been intact since July 2017. We're looking at must-hold support of 44.90, the loss of which would break the uptrend. This level will be in play next week. If 44.90 breaks our next support is 10% lower at 40.68, and then there's...
Taking a different approach today, starting with the long term weekly chart. APH looks more and more toppy with each passing week with bear volume standing out and upper wicks of profit taking. Bulls were barely able to break the high of last week. Our weekly lower high is now set at 20.96 and the must hold level to maintain the weekly uptrend is 15.76...
Taking a different approach today, starting with the long term weekly chart. ACB has a bearish reversal candle on the weekly chart and a potential volume climax. The weekly trend is not at risk of being lost anytime soon because of how hard we have run up. Our weekly support currently is at 7.65 and now that we've lost the daily uptrend we are in search of a new...
CGC has completed a classic 5 wave pattern, which is very visible as outlined. Not drawn is also a channel, which shows the current top at channel resistance. Also, we have major divergence on the weekly RSI as price has went up, but momentum down. The timing is impeccable as many everyday people have been piling into pot stocks as it is being legalized tomorrow...
CGC saw a big gap up and huge volatility in the opening minute with a range of more than $1, before an aggressive dump spanning 20 minutes and traders took profit, knocking the stock down 12% immediately. CGC bounced off the low of the day pennies above that key resistance we broke Monday for the equilibrium bullbreak - 51.21 former resistance now support, with...
ACB saw a big gap up and a big push in the first few minutes, followed by an aggressive dump spanning 20 minutes as traders took profit, knocking the stock down an immediate 16%. ACB bounced just five cents above former resistance 13.60 - former resistance now support. The RSI also rejected from a downtrend line spanning the last few weeks. The MACD on the...
Description MedMen Enterprises Inc., together with its subsidiaries, operates as a cannabis company in the United States. The company cultivates, produces, possesses, uses, and distributes/retails cannabis in the recreational and medicinal cannabis marketplace. It owns and operates 19 licensed facilities in California, Florida, Nevada, and New York. The company is...
Reentry price levels to watch Description Aphria Inc. produces and sells medical cannabis in Canada and internationally. The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It serves patients, health professionals, and veterans. The company sells its products through its online store or phones, as well as engages in...
Price levels to watch. Description OrganiGram Holdings Inc., through its subsidiaries, produces and sells medical marijuana to individuals and physicians in Canada. It offers marijuana plants, seeds, and cuttings; cannabis oil; and dried flower and cannabis. The company sells its products through phone and online store. It also operates healing centers that...
Reentry levels to watch Description Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop,...
APH saw a higher open this morning and broke the daily inside bar bullish but remains within its hourly equilibrium. The daily bull flag setup remains as the range gets tighter and tighter. MACD is curling up and we want to see a clearer spike tomorrow and increasing volume. Bulls are trying to hold 19.79 as an hourly support but we're far from convinced...