Lack of any bull moves on the SAFE Act passing Congress means it was already priced in, and bulls who were holding looking for a move, who exited their positions when that move didn't come, was a contributing factor in significant red week we saw, in my opinion.
The other factor to be aware of is all the bearish news articles around the vaping illnesses we've been...
Curaleaf is starting to round back up and looks like it can potentially get back over the Ichimoku Cloud. The marijuana sector has been a poor performing sector this year so I wouldn't press too hard on it, but there are still a few catalysts left this year that could help the US MSO's take a run.
Inside bars on many names, some names scoring big victories in the face of significant market weakness and significant weakness in the Canadian cannabis names.
Significant bearish reaction after hours to poor CGC earnings, contrasted with very positive TRUL earnings. Let's see what happens tomorrow, here are the levels.
CURA CWEB TRUL OH CL MMEN IAN HARV GTII
Many names, like Canadian counterparts, =have clear resistance lines the bulls must get over in order to shift momentum. Time to make a list and group names that are strong, and are weak, and if you have free capital, this list can help you figure out where to deploy that for best returns.
If your favourite name is...
Is Curaleaf going to shake off the FUD from the FDA & continue crush the U.S market.
I think so, although they may have stepped over some boundaries with promotion / labeling & making claims on some of their cbd products, it doesn't change the position they have in the U.S with distribution.
It looks like CURA may have found a double bottom?
Time will tell per usual.
Many names have been consolidating for months at this point, some longer than others, but we're looking for monthly higher lows on most names. We had some shifting momentum on the charts this week as the hourly trends on some names have changed bullish but remember we are still just looking for daily lower highs. The bulls won't prove anything to us without a...
If bulls can hold the low of today, tomorrow, I'll be watching to see what volume looks like on the bounce to anticipate where we may set an hourly lower high in what I anticipate to be an hourly equilibrium that will play out into Monday