ACB continued its recent pattern of lower lows, dumping the whole day and closing down over 16% in one of the most stand-out bearish days this sector has seen. There is no doubt in my mind this weakness is in large part to the overall stock market dumping for the past four weeks, so be sure to keep an eye on the correlation to SPY. We've now given back 80% of...
APH followed Canopy Growth's lead breaking its 4hr equilibrium bearish, and shortly later confirmed the daily bear flag, dumping the rest of the day closing down over 17% in one of the most stand-out bearish days this sector has seen. There is no doubt in my mind this weakness is in large part to the overall stock market dumping for the past four weeks, so be...
CGC today broke its 4hr equilibrium bearish, and shortly later confirmed the daily bear flag, dumping the rest of the day closing down almost 15% in one of the most stand-out bearish days this sector has seen. There is no doubt in my mind this weakness is in large part to the overall stock market dumping for the past four weeks, so be sure to keep an eye on the...
APH is in a similar boat to Canopy right now, stuck inside a 4hr equilibrium. The range here is 18%, over twice as large as the range Canopy finds itself inside. We are seeing the MACD start to curl upwards for the first time in quite a while, and we are patiently waiting for our higher low to be set relative to 14.11. APH has also bounced off of the golden...
APH is also in a 4hr equilibrium, the break of which will give us clues to either further sell off or to the low of the dump being in. I'm looking at support of 14.11 and resistance of 17.33. Our lower high may be set at 16.77 but I'm not yet convinced by this. A break of 14.11 and we're looking down to 13.76. A break of resistance and we have a lack of...
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...
TLRY seems to completed the B wave of the ABC correction. Watch out for a correction here now for a short trade setup to new lows. I'm expecting around $50-60 based on fibonacci levels. Reversal can happen anytime after we break the low of wave A.
CGC broke down and now consolidating for further downside move. A good short setup on the 1hr chart .
Based on bearish market sentiment, I believe we could possibly see a flash crash along with the overall stock market.
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...
Reentry price levels to watch. Short term short looking for price entry. Description The Supreme Cannabis Company, Inc., a development stage company, engages in the production of medical cannabis in Canada. The company was formerly known as Supreme Pharmaceuticals Inc. and changed its name to The Supreme Cannabis Company, Inc. in December 2017. The Supreme...
The ascending triangle is most often a continuation pattern, so we should expect a bullish break to US $260 by the end of the year if the pattern plays out. This is support by Tilray's plans for global expansion and the decision today to legalise recreational use of marijuana in Canada. Recently the Tilray price has dropped despite a lot of good news for the...
NASDAQ: #Tilray | $TLRY is @ the TOP of the BUY ZONE!
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...