ACB broke key daily support but bulls bought the dip and finished strong near the high of the day, completely ignoring the end of day dump by the sector leader on bearish news. Price bounced just below the .382 fib level from low of consolidation to our recent high. The daily volume was far less than I would have liked on this move, and so I expect a daily...
WEED started the day Friday with a gap down open just above our key daily level, providing a great bottom-fishing opportunity to play in our daily equilibrium. The entire move was given back in the afternoon when news came out of Canopy withdrawing their 'Chronic By Dre' trademark request after forgetting to get permission from the rapper to use his name. The...
CGC started the day Friday with a gap down open just above our key daily level, providing a great bottom-fishing opportunity to play in our daily equilibrium. The entire move was given back in the afternoon when news came out of Canopy withdrawing their 'Chronic By Dre' trademark request after forgetting to get permission from the rapper to use his name. The...
TGOD is on top watch for me tomorrow. Down 32% since hitting all time high last week, and now hourly oversold with RSI of 23. Hourly RSI 18 is a historical bounce point so if the bears are aggressive tomorrow with a flush first thing we can look for an entry, otherwise there is still room to the downside so I will be very patient waiting for the move if it...
Aurora Stocks are going to drop within the next days in my opinion. the reason i think that is because I have been watching the charts and watching the news and this is what i found. I have found that no matter what anyone says about a weed stock, it doesn't matter the majority in weed stocks are the people who don't know how to get into stocks and they are super...
WEED small gap down open today, pulling back on a significant increase in bear volume is certainly a concern for the bulls. The weak afternoon bounces certainly have me looking for possible bear-flag confirmation and to further downside; bulls must hold $62.02 and break above $65.05 to negate that flag potential. Key support for the bulls to maintain the daily...
ACB opened right at $12.00 price support from yesterday and broke it on open, and wasn't able to recover it later in the day. This is not game over for the bulls, as chart support remains at $11.44 but it's certainly a stronger pullback than the bulls had hoped for just 3 days after reaching new highs in reaction to earnings. IF there's any consolation for the...
CGC small gap down open today, pulling back on a significant increase in bear volume is certainly a concern for the bulls. The weak afternoon bounces certainly have me looking for possible bear-flag confirmation and to further downside; bulls must hold $48.90 and break above $50.00 psychological to negate that flag potential. Key support for the bulls to...
APH was by far the weakest name in the sector today, breaking $18.57 support and signalling a major red flag for the bulls, putting the chart into a daily downtrend with a lower high and a lower low. $17.76 support broke as well, and the last level we have to play off of is the low of the oversold bounce $15.76. APH rejected on open from daily EMA4 & EMA8. The...
APH is in a tightening pattern on the daily and the afternoon bounce today gave us an hourly lower high, and a new resistance to play off of, 19.88. Low of the day was 18.78, this level is important but the key support for me is 18.57. If we can break 19.88 and hold 18.57, that significantly shifts the odds that APH can break this daily tightening range...
CGC has been getting tighter and tighter in the two weeks since the oversold bounce Sept 14th. We're at a point on the hourly chart where we're likely to see a break, giving direction for the entire sector heading into next week. Daily candle is still bearish, indicating we could see further downside to start the morning. However if we hold the low of the day...
My last published piece on ACB indicated the bulls were looking for a new base of support, and today it's become clear that line in the sand is $12.00. The day started with a higher open and a strong attempt to break $13, and profit taking starting a minute into the day. Bulls immediately fill the gap to the penny and tried to rally from there, but were unable...
Tilray has reached the apex of a symmetrical triangle and is ready to move. Stoch, ADX and OsMA are saying down, but I wouldn't take a position until there is a clear break. This could go either way, but I assume the move will be pretty substantial.
Solid consolidation after ABC correction followed by a spectacular breakout following the coca cola hype. Wouldnt be surprised to see this over 20$ in 1 month from now purely on momentum following fomo which is typical of any bubble
Tomorrow, HEXO enters day 5 of the right range from 8.12 support and 8.63 resistance. Breaking this bearish will have us test supports of 7.71, daily MA20 and 6.76. Breaking bullish will have us test 9.09 all time high, and potentially break that. Volume on the break will be my key indication of power and momentum.
ACB had a big gap up on earnings this morning and saw a continued run into their conference call, however when the call failed to deliver a news catalyst investors started to take profit, breaking the low of the day and dropping to test former key resistance $12.56 as support. This bearish candle suggests further downside tomorrow, and I'll be watching two key...
My short term outlook for Canopy Growth Corporation (TSX:WEED). I believe we are in the midst of a small correction. I see the price bottoming out around the vicinity of $50 before we see a return to the higher upside trend. Going to continue to monitor and purchase shares at the bottom if my analysis holds true.
TLRY saw a massive dump after completion of wave 3. TLRY is completing A leg of the ABC correction. Watch for a breakout for long opportunity on the bounce.