The Canadian stock market is among the world’s biggest and most important stock markets. It is composed of the Toronto Stock Exchange (TSX), currently the ninth largest exchange in the world by market capitalization. More mining and oil and gas companies are listed on the TSX than on any other stock exchange worldwide. It represents over 2,000 listed companies. The second Canadian stock exchange is the TSX Venture Exchange (TSXV). Both these exchanges are operated by the TMX Group.
The third exchange is the Canadian Securities Exchange (CSE), operated by CNSX Markets Inc. This is the fastest growing stock exchange in Canada and it supports micro cap and emerging companies. The Canadian stock market features actively traded companies such as WestJet Airlines, Cenovus Energy, Royal Bank of Canada, Yamana Gold, Loblaw Companies and Bombardier. The benchmark index is the S&P/TSX, which tracks the performance of the largest TSX listed companies by market capitalization. It covers approximately 95 percent of the national equities market.
This is just an update from my previous analysis. The candle's wick from yesterday landed precisely into the region that I highlighted as its support.
Now we need to see a few more candles of reversal or would it melt lower to the 8.11 region. Once it hits the 8.11 price point, I will wait for a reversal candle and then buy in!
Interesting setup here in a relatively new stock.
Pulled back from a strong trend.
Has popped out of the pullback, and another pop from this tight consolidation could send it up and away.
Beware of the low volume.
Reward:risk is quite good...assuming we can get a similar rally to what has happened prior.
Could also use a trailing stop loss, such ATR ...
BXE.TO may be falling in a wedge here. If it breaks and closes to the upside with vol I'm in for this great R/R trade.
Must have tight stop as many will see this as a descending triangle.
Average Mean Price for today: .95$ per share (Yellow); 1.05$ per share by July 20th.
Range bound high/Lows for today: .84$ per share to 1.04$ per share; .91$ to 1.11$ per share by July 20th.
Major Supports: .90$ per share
Major Resistance: .95$ per share
Trend analysis is bullish from current SP.
Grat Build another Hammer. Last Time it ran from 10-16!
Look for some Volume and it should run for a couple of days.
Also Management is in Blackout so news could drop every day!
Welcome to my analysis.. I have done an analysis before for WEED. I am doing an update now for this week. . on to the good stuff:
Fundamentals:
Ok guys. I just read a couple of articles that was recently shown here in tradingview... they bear FUD-ing news. It's stating that Canadian cannabis companies are not a good investment. Let's see how the traders will view ...
WEED and ACB down on Friday and APH was showing bull strength as the past couple days having higher lows and holding its own while competitors are very over sold and still dropping. I like APH because the stock has fewer issued shares than acb and honestly the charts are cleaner and more predictable than canopy and acb. canopy when they have a bull day it moves ...
I have labeled my Elliott Wave Count for WEED.TO as 3 waves in and possibly 4 waves in.
We will see a bounce very soon today or Friday . I think a 10%move up,once pivot low is reached.
Initial Target zone once we reach the pivot low is between $56 and $60 assuming there is no extension for wave 5.
There were sub 5th wave extensions for greater wave 1 and wave 3 ...
Generally trade stocks in strong trends, but the turnarounds can be good as well. Strong price action starting in March, with a cup and handle type formation. Provides for a decent reward: risk with a stop loss near $4.60/50.
Price needs to break and hold above $5 to signal another advance.
Disclosure: long.
