As we can see, WEED keeps tapping that new upward trend line quite nicely, leaving us with a third point of confirmation on our temporary upward trend line, indicated by dotted green. This however, brings us closer to a possible ascending wedge forming. After making a significant rally today, you can see that we touched the previously drawn resistance at 33.90,...
Just checking out some stocks for a change. What do you guys think?
Canopy Growth rising while Aurora and Aphria are falling. This is not a good sign for WEED.
I had hypothesized earlier that hempco could find support at previous resistance level after being in a very harsh downtrend. now blasting upward through resistance on news of Aurora cannabis's investment, showing that the bulls are still very much alive.
Just a quick update today, indicating some new support and resistance zones.
Triangle pattern might be ready for breakout after 2nd senate reading passed 44-29 votes. 2 more months until 3rd reading in June.
As we can see, TSX:WEED buyer volume opened strong and we have been able to turn the previous resistance line into support, after closing 5 times above the previous line on the 4H chart. That double re-test right before this jump into the next Fibonacci zone, created some seriously heavy support and falling below that any time soon will be unlikely unless...
Not only is that hilarious, but it is a step in the right direction for sure. We tried to smoke our way past resistance, but it looks as though we couldn't quite do it, stumbling back down into the support channel. Confirmation above the MACD's on Monday will allow is to move the support up to 31.40 and possibly 31.85 if it opens bullish. That huge red shadow on...
Big Bear Flag Forming on Weed and a Bounce off $33.00. Next week it looks like the 3rd Wave will complete downward and then we could see a big break down in the upcoming week. Upcoming Senate hearing could help or hurt. Everyone seems to be very Bullish here I am going to sit this one out.
3 months ago, the stock increased tremendously. On the other hand, we cannot worry because the price for the stock when down. Remember, the legalization in Canada is on June and the company already created some partnerships with other companies in order to have more fields. Then, the profits will increase massively! Therefore, in order to make profit with this...
No matter how fundamentally strong VFF Is and how solid their execution is , the overall volatility and psychology of the cannabis markets will effect share price. Personally I believe VFF to be very well positioned, in a strong position financially and their operational plans are on track for 2018 and 2019. Short term VFF is in for a tough battle up, overall...
So as we can see, there was a nice positive consolidation between the current support and resistance channel, with quite strong buyer volume all day long. This has formed somewhat of a bull flag. There is a good possibility that we will re-test resistance again, however, this is somewhat necessary to confirm the third point for a new possible upward trend line....
If XXII fails to break previous resistance level I would get out and cut losses if you are a bull trader...bears might stick around and reap the long term benefits coming up this year. If you are a swing trader such as myself, check for that 3.20 to 3.40 if XXII breaks that previous resistance level and creates a new support by the end of the week.
In terms of the Cannabis index, I expect an around 1250 open in the future. This is due to the rise of weed for medical purposes or recreational usage. Also new laws, large medical marijuana suppliers in Canada, as well as what is going on in Colorado and 4/20 right around the corner are definitely some key growth indicators. For potential, you can say "Roll the...
Similarly to ACB, WEED breaking out of a consolidation.
price action has bounced off of 50% from peak to peak values from the high in the 40s to the low in the 20s. Now looking with strong downward pull from bears. The retrace is almost surely over and this stock will resume its downtrend for now most likely.
For a brief time we crossed resistance, but retraced and are now keeping in line with the support and resistance channel that has being tested and is currently consolidating. For the time being, the support line has been moved up, although keep an eye out or have a stop loss somewhere just below, maybe ~30.50. This is due to a slightly looming green shadow that...