After a few weeks of watching canopy and trying to short it. I've become convinced its going to produce a similar breakout from the previous rally. Jan 9th > The first breakout started. Support began then the crowd started to rally and it produced substantial gains for longs leading into the next congestion phase. Jan 14 - Jan 24 > The Bull flag congestion...
Not Trading Advises. only for learning. Appreciate feedback and criticism I think Aurora is in a upward trend to its ATH price range based on the following: • HH & LL • RSI showing positive signals and positive momentum • Volume increased • Structure/Support at $9 Cad, not sure how strong the support is, and if the support is hold at $9, i interpret it as bulls...
ACB is looking good and is looking for a bounce
Re-test of $25 is coming. Lets see if it penetrates. Double top formed after CGC ER catalyst move. Great short entry at $24.80 if confirmation wanted and a more aggressive strategy at this level toward $25 if fade strategy is in play. I am shorting 200 shares at 27.32 holding till $25 to fade if it breaks through I'll add. Stop is at $27.60.
I think Canopy Growth will retest its support in the coming weeks. Much based around the accounting error and no short term catalyst to move the SP higher from a already high SP, price near ATH. I think Canopy Growth will find support around $48-55 Cad or as low as $40 Cad, depending on more factors then only Canopy. And with positive news around the Cannabis...
We know how fast weed stocks move when they hit proven support lines. One more trading day to prove 6.90-7.00 support will likely bring ACB >8.50 by 3/1. It's possible we'll see a little lag, but expected move should happen by 3/8. Peak-to-peak, ACB has averaged 10%-20% leaps. 10% leap from previous peak of 8.34 brings us >9.00 ACB trading at 6.93 while posting this.
There is no stopping the weed train, at least in the Canada's 9 billion weed market. CGC went from $20's in dec to $50 this month. And I can see a triangle formation on chart. Maybe a breakout in upper 50's next week?
Dont be gredy, this will roll over and continue downwards most likely
If it cannot break out of the descending channel we will retest lows in the next 24-48 hours. Short play with $6.22-$6.12 target price
Big move to either or the circled areas expected after hours let us see
Hello traders, Looking at the daily chart for marijuana stock, WEED, we see that bulls are started to do profit taking. As a matter of fact, we see majority of marijuana stocks (CRON, N, ACB, APHA) just reached temporary top and looking to consolidate in next few days/weeks. What I want you to notice is that marijuana stock and bitcoin has inverse relation,...
Weed Stock gone parabolic again... valuations don't add up again... might spike higher giving bearish div with the RSI .. either way this is the plan I am trading currently... No REKT plz. NFA.
Burst through H&S and previous resistance, forming bull flag. WEED closed +1.5% today, with WMD closing -0.5%. Divergence between these two never last. Likely pullback to 200D SMA (last support), before breaking through bull flag.
CGC lost the hourly uptrend and subsequently the 4H. After a move of almost 50% this will now retrace and needs to find a new base of support.
3 drive set up on NASDAQ:CRON Buy zone at 16, look for profit taking as euphoria has set in this market. Notice weekly candle if close below open of 21.82
I believe the majority of cannabis investors are retail investors with low knowledge about the market and there company(s) of choice, with a hope of becoming rich fast and without pain. I see reports about cannabis investors that says investors are young people, and talks on yahoo about young investors in the cannabis space. I have followed the charts closely...
Been looking at this ascending triangle formation for a while. Not a pro at charting but looks about right?
Weed is the future, or so they say. 2018 saw a ton of overweight equities, but they have proven to be some of the most resistant names in today's market. Therefore, it stands to reason that if names like CGC, TLRY, and CRON will continue their rise, this ETF will reflect that success. It needs to retract, but will offer a great buying opportunity in the next 1-2 weeks.