GTII appears to be one of the cannabis companies in America holding their market cap relatively intact.
There is an ascending triangle pattern on the verge of breaking out, and like clockwork cannabis reform in America is a hot topic to capture voters of all ages.
“There’s no excuse for our not being in the forefront for something that is now legal for 97...
The price of Green Thumb continued to work on establishing itself above the resistance at C$16.15 last week. Although it briefly fell back to the mark, it quickly reacted and turned upwards again. We expect the magenta-colored wave (iii), which the share is currently working on, to extend a good deal further upwards. This should be followed by a countermovement,...
Behold the darling of the MSOs, GTBIF looks to be building a textbook Wycoff bottom... I believe we are early-to mid phase B. Ignore the timeframes and pay more attention to direction, levels, and volume.
"Phase B: In Wyckoffian analysis, Phase B serves the function of “building a cause” for a new uptrend (see Wyckoff Law #2 – “Cause and Effect”). In Phase B,...
Green Thumb is in most of the cannabis etfs and top of the list. Its one of the only cannabis stocks that is profitable now and has growth potential at a reasonable value.
If down trend continues for 2023, I am interesting in seeing how low it goes and then reviewing its future prospects.
2025, numbers according to anaylsts, are really when Green Thumb will...
With the recent pump and dump on the Safe Banking rally, it has become visible that most of the pot stocks sector is in a corrective state, setting up for a cycle correction. GTBIF appears to be in a triangle and will look to correct this triangle in the coming weeks/months.
For the most part, I would be alerting myself in the "loading zone" with a potential...
I used stare at charts and colored bars and tried to find shapes to figure out the next move. Guess what, I missed out on a lot of easy opportunities to hold and ran scared out of good stocks because I didnt understand growth valuation.
Stocks will do things that dont make sense on the charts. Stocks are businesses.
We really need to understand the companies...
The gray overlay is an exact day for day clone of the period from oct '18 to feb '21, the last bearish cycle.
Notice the correlation of local inflection points, right down to the week where short term trends shift. If this pattern stays true then we could be seeing a local low early-mid january followed by a strong impulsive wave 5 into the $25+ area into...
Price target CAD $4.20 by June 2023.
GTII is trading well below the 200DMA, expect a bounce towards the downward sloping resistance of the descending broadening wedge near term and short or sell your swing trade in that area.
TAKE A HIT OR LET IT SIT?
Like most of the cannabis sector, the last couple days of the first week of May oversold than I expected, while hitting all my price targets, it happened faster than expected.
Last Chart Analysis (March 26th, 2022):
This will change my overall look and move the primary cycle 4th and 5th wave (as presented in new chart)
The MACD...
TAKE A HIT OR LET IT SIT?
On the weekly chart, $GTBIF has flexing big highs and 'Debbie Downer' lows, can the 420 spark enough buzz to get investors back high?
Correction ('ABC' / '12345' Interval Completes) - Now 4th-5th wave, expect divergence via MACD throughout until cycle completes.
With the POC around $9 (history), expect the Middle of May selling to...
Here is a quick review of the $GTII price action.
Keep an eye for the trigger that can be pushed by a daily RSI bullish divergence between wave 4 & 5 and earnings (if they beat the estimate).
If validated the trigger can push the price to previous ATH with significant selling pressure in the "High resistance" zone.
In this scenario, the trigger would be a good...
This bounced right off of support. It has many positive indicators using the strat method on the daily and weekly (called continuation).
It also has a positive sign of divergency + the news re the safe act helps this baby move.
It is in a death cross so above the 50 MA on the daily I will consider adding commons.
Lets see if the price can stay in this triangle and hopefully break bull in fall. GTBIF is the best MSOS stock for me. It is much stronger as the etf MSOS. Reloading? Stop below triangle.
If GTBIF cant stay in MSOS have big problem as a whole...
It's always possible this pattern plays out bullishly as a bull flag, a directional shift in momentum will likely occur leading up to earnings or a sell-off afterward.
On September 1st GTII will report their next earnings, and the ending of this pattern is September 24th, Descending Triangles and Bullish Flags more often than not make a decisive move in one...
Oh boy! Where were you when all this was happening?
Cannabis (aka weed) stocks as a group set to take off. This could be bigger in percentage terms than Biotech pumps we saw in the pandemic period.
As some will be aware major changes have been happening in the USA and Canada to 'legalise' certain aspects of cannabis. GTBIF and CURLF were ahead of the race....
