Just an update to my CGC idea from earlier this evening, all of which still applies.
A friend of mine has pointed out that CGC is forming some hidden bullish divergence on the daily chart. Our RSI and MACD oscillators are hitting lower lows, while the price hits higher lows. We still need an hourly higher low, so if the chart can break the daily MA20 and the...
I just typed up a big analysis and deleted it, so here we go, round two!
Bulls today were in full control printing a bullish engulfing candle on the daily. Anything under 12.95 is a lower high on the daily, and I anticipate that to be set around $12.75. I would be very impressed if the bulls were able to break $13.00 psychological first thing tomorrow.
The...
I'll readily admit today took me completely by surprise. I studied numerous charts last night and came to one conclusion - the sector would not have a bounce today because WEED's 4hr RSI was not low enough; it was only 32, when generally bounces happen from 27 or lower. WEED opened the day with multiple rejections from the high of CGC premarket, then saw a bear...
I'll readily admit today took me completely by surprise. I studied numerous charts last night and came to one conclusion - the sector would not have a bounce today because CGC's 4hr RSI was not low enough; it was only 32, when generally bounces happen from 27 or lower. CGC opened the day with multiple rejections from the high of premarket, then saw a bear break...
WEED broke the daily equilibrium bearish today and closed down 6.5%. A small bounce at the end of the day cooled off RSI levels and we're no longer oversold on any timeframe. I was looking forward to an oversold bounce tomorrow but after hours trading further cooled off RSI and finished trading in a bear flag setup.
Two daily supports were broken today, after...
APH gapped down today, filled the gap, then turned around and never looked back. I held a short most of the day today and covered it a little early just under $16.30. Support at 15.76 held by two pennies. APH saw such a significantly bearish day because after losing 18.57 last week, the next support was 15.76 - a full 18% below.
We're at the point where we can...
ACB held up very well today in the face of across the board sector weakness. 11.21 support is key to save the daily uptrend; I do expect that level to hold and I would then look for a tightening daily range and a lower high relative to 12.95.
Volume offers no real red flags but RSI has broken support and shows the first signs of bearish divergence.
ACB offers a...
CGC broke the daily equilibrium bearish today and closed down 6.5%. a small bounce at the end of the day cooled off RSI levels and we're no longer oversold on any timeframe. I was looking forward to an oversold bounce tomorrow but after hours trading further cooled off RSI and finished trading in a bear flag setup.
Two daily supports were broken today, after...
APH bulls had a gift this morning with a gap-up open breaking the hourly downtrend, and re-confirmed the hourly downtrend by giving back the entire move back, barely holding the low of Friday by 5c. The bulls couldn't even muster a small push up after opening bell, leaving the bears in full control and the opening price as the high of the day.
The range I'm...
CRON was the one setup I was most looking forward to this morning with it's multiple daily inside bars and triple bottom in the $10.80s range. That setup was ruined with a higher open, and profit taking all day. While the daily candle is very bearish, CRON did hold key support and broke the hourly lower high pattern. To fully shift momentum back to their...
I'm still impressed by the ACB bulls with their bounce hitting the very top end of my target zone, rejecting from the .786 fib pull just below $13.00 resistance. Having lost the hourly higher low pattern this afternoon I'm confident that our new daily lower high has been set. I'm looking for an equilibrium to form, and anticipating a higher low relative to 11.21...
CGC opened significantly higher considering the big bearish momentum Friday afternoon into the weekend. Bulls made two attempts first thing this morning to break the high of Friday and fell short both times, resulting in profit taking and another close down at the low of the day. We have an inside bar on the daily to watch for clues. It's worth noting CGC has...
Let’s be real here. This 1hr timeframe
I wouldn’t be surprised if it dropped back after people realize 8k has been released about the drink. 3$ if that.
All based off a PRess release for cbd drinks
Market manipulation in my opinion.
TRST is one of the few names that held its uptrend intact rather than breaking key daily support. low of Friday 11.26 is the new must hold level for the bulls to maintain the uptrend. Bulls finished strong at the high of the day, and just below what is essentially a quadruple top on the daily at 12.75. The hourly chart is over extended, having seen 7 green...
HEXO had a huge breakout on big bull volume late Friday, and only has three resistances from here - High of Friday 8.85, 8.95, and all time high 9.09. The day ended with the bulls trying to form an hourly bull flag.
I'm personally looking for a backtest of either the daily breakout level 8.64, or the hourly level 8.55, which will be must hold levels if the...
Cara is one of many unreliable weed stocks that many follow but the good news for you is that it is on a uproar! Cara has been down for the last couple weeks but it has made its way back to +0>13% in the last couple days. Like many weed stocks they fluctuate because of the shareholders within the stock are untrained and new to the stock market. This is where you...
CRON formed its second daily inside bar on Friday as the range tightens up and the volume drops off. I'm looking for a break of range and a volume spike on Monday. I like inside bars because they signal equilibrium (pennant) patterns on a lower timeframe. Sure enough if you zoom into the hourly chart you can see a beautiful equilibrium playing out within our...
After breaking its daily uptrend, APH bulls showed up Friday looking to set a daily lower high compared to 20.57. I'm expecting a back-test of the daily MA20, currently at 19.51 in the current configuration. I don't like any bull entries in APH right now based on the daily chart, but if you zoom into the hourly we see the bulls trend trying to change the trend,...
