🌿 Alternative Harvest is on its way up after an extremely bearish last half of 2019 for pot stocks, but is it up in smoke or down in ashes for MJ? Right now we have MJ rallying off the bottom as darlings of cannabis like Aurora and Tilray push higher. This move in some pot stocks has pushed others up. Some of this is fundamental, with some better than expected...
MJ ETF seems to break its first steep and quite long term downtrend line.
- Ichimoku stup is neutral with bullish bias as forward Kumo has already crossed up, Price is above Kijun and cloud.
- EWO (AO) is positive
- It should make a higher high above 14 (which is weekly Kijun Sen level) to give a confirmation and increase odds for a sustained bullish move towards...
The MJ Sector has been down-trending since March of 2019, still has yet to see a real bounce with a solid continuation. As of May 2020 it looks like we are ready to bounce but still, I am weary that they will do another fakeout breakout.
Anyhow, I am expecting MJ's price to eventually break above these down-trending lines. They are still rejecting the price...
Last post on MJ Alternative Harvest we started we were opening longs @ $11.90
Currently sitting up 5%
We took this position based off the large timeframes, the weekly and 2 week.
Now you see a breakout with a settlement back on old Resistance to test as support.
Key is to play this as support. If it shifted right and than turned to break support back below...
ETFMG Alternative Harvest (NYSE: MJ )
What is ETFMG Alternative Harvest?
An ETF that acceptance of various uses of the cannabis plant such as pharmaceuticals, biotechnology and life sciences,
The following below are the top 10 holding for MJ:
Will be opening long positions on the cannabis ETF alternative Harvest. (MJ)
Weekly is compressing for momentum shift to the buyers.
This is a 3day, right on the money crossover.
Good risk to reward. I like it.
This sector has been beaten down even though sales are high. Everyone is still buying marjiuana, if not more. This seems like a steal to me.
Although I don't love some of MJ's holdings, its volatility is much better than individual companies within the sector.
I hope to pick up 20 - 25 1/15/21 $24 Calls @.15 each.
The cannabis sector. The holy grail of money to be flooded to. These cannabis prices are insane. I've been wanting to buy into this ETF but clearly this has not been a good sign in a while. When market corrects I think the cannabis sector will take off running. Will keep watching to see if it wants to correct lower. Obviously I'm on the weekly so I'm...
It's difficult to pick which cannabis stocks will survive and which will thrive, but the ETFMG Alternative Harvest ETF (MJ) provides a selection of the major players in this young industry. The industry has suffered bumps and grinds, but is due for a rebound, consolidation and growth.
The worst of the troubled industry seems to be over. Good results from Canopy and continued management restructuring in other companies having the desired effect. Oversold sector has room to go 'higher'.