Still in sweet buy zone ready to make easy 3x from here imo
Since the last update WEED has been correcting within the triangle that I had defined, slowly making its way down and bouncing really hard off the upward trend line, taking it to the top of the triangle and closing on the 61.8% Fibonacci retrace. There is some resistance at this point as it will try to break its way out of the triangle for confirmation of a...
Bull scenario - we break 27.50 and 27.83 for hourly higher highs - in which case I would be targeting previous support of 29.55 which lines up amazingly with that downtrend resistance line - likely to scale out partial profits sooner since that's an ambitious target percentage wise. Bear scenario - 27 dollars breaks down and I start to watch for an oversold...
Low volume and a nice tightening pattern on APH's hourly combined with an oversold RSI could provide for a nice bull break out of this falling wedge. Watching for a potential flush down out of the wedge then jump back up - or bull break over 9.97 and 10.16. Always watching sector leader WEED too.
Follow through today on WEED hourly equilibrium bear break. Looking for a weekly higher low to continue tightening up the weekly equilibrium. Scouting an oversold bounce as hourly RSI heads into the mid 20's.
Multi-month triangle forming here. Canada set to legalize some time this summer, this triangle and potential break out could correlate with that time line. Long on a break with volume
WEED is looking pretty gooid, setting up for a descending triangle formation ready for a breakout really soon. Wait for confirmation of a breakout for entry, somewhere bewtween Fib .236 and 0. Set stop-loss a little bit below entry. I'm expecting more resistance around the 0.618 (32.03) and 32.53. Take profits below each resistance. Target 32.97
Just looking at the short time this stock has been public, and just looking at how crazy scattered the 4hr candles are (not much better on any other small time frames, too few candles on larger ones) I know that I am "throwing lines on a chart" here in almost the typically derogatory way. But this is mostly a framework for me. I have been in this since almost...
As we successfully came back into the triangle, but got rejected below the downward trend line, respecting the 50 day moving average as resistance. It has now re-traced back to the 61.8% Fibonacci line, where it sits with indecision as I write this. There is some light support that is now holding us, but it won't take much volume in the wrong direction to see a...
Bullish. This is one of the top producers. Good exposure for this sector
A new emerging market that went from being illegal and done by gangsters and is starting to be industrialized. It's only at its early stage, and MJ is being accepted more and more in the world. Companies selling this stuff are planning on having ten times more clients next year. It's a pretty controversal area it's risky, but the potential is great. Not that...
We have officially fallen below the upward trend line and out the triangle, stopping right at the 50% Fibonacci retrace, which was to be expected. From here, there is not much left for support. We could bounce and come back into the channel, but a re-test of ~23.75 is more likely, and subsequently a re-test of the 38.2% Fib if support cannot be found there....
nice set up here. other cannabis stocks are pulling back, showing some strength here. Long on a break up
After the correction and a trace all the way down to 25.34, we can see that it closed twice right on the current upward trend line and bounced. It is currently holding above, in the support and resistance channels that I have drawn on the 4H. Conviction does not look very high however, as it was looking to come back down again, but it got rejected just above the...
WEED still way out of sync with cannabis sector, as we can see compared to HMMJ. WEED would have to be $21 to catch up to HMMJ
looking to breakdown bear flag into final corrective wave, took a lot longer than i originally anticipated but it will come. short then long into buying opportunity
There is a a lot of choppy sideways movement going on with WEED right now that I wasn't expecting and it invalidated the temp upward trend that looked promising.. I was really hoping that we could confirm three points, but we are now looking to hold support around the 50 day moving averages. We are still way above the 200 day moving average. We can see that it...