Longs have something to worry about, Get out at some point soonThis is the perfect head and shoulders pattern . Tomorrow, will likely be your last opportunity to sell, before the daunting descent back to normalized levels. The pattern shown is an exact replica (perfect I may add) of the head and shoulders pattern found in trading. Mind you, with todays close, you will likely see a green day tomorrow, but this will soon be followed by a strong bearish reversal. My team and I will take a day off from trading, and as a fair warning, we will likely be shorting the MJ sector hard come Monday. Feel free to post comments below. I will be happy to provide you with TA. Have a great day, Guru by isnarain303011
WEED - letting the dust settleWatching the WEED.TO range from low of Friday to high of today. Today's low bounced right off the golden pocket of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that holds. I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow. I find the most clarity here on the 4hr and daily charts. The bear volume today was significant We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.by McGuireTO4
Iv'e got good news and bad news!Bad news is the stock crashed towards the end of the day today. Good news, there will be a strong bullish recovery on open tomorrow - Highs ranging from 67.73 - 69.94. Comments made on CNBC mostly to blame for windfall. Similar events in the past have happened and the end result is a strong bullish recovery in the morning. Expect a gap up in the AM.Longby isnarain18188
WEED Going DownBroke through previous upward channel, found support on the 0.5 fib, but failed to make a higher high. Bearish divergence on the RSI and Stoch is looking to form a bearish cross. Reversal indicated via heikin ashi as well. Rapid dump indicates this is not a simple bull flag. Volume has also been decreasing during the rebound off the last dip. Expect a retrace to at least the 0.5 fib. Likely will find support around the 100 Day SMA as it has done previously. My opinion not financial adviceShortby green_brow2
WEED.TO tightening range on watch this coming weekWEED.TO After retracing .5 of the move up from the low of consolidation before the constellation news to recent all time high, I'm now watching for a lower high to be set somewhere between $64-65 range. If we get a quick push up Monday to that area I would expect enough profit taking to have us looking back down to find a new base of support above Friday's low $52.80by McGuireTO4
Long position: WEED. Good morning Traders! The last candle on Sept 14 had a low of 52.8CAD. It landed right on the 61.8% fib tool. This usually signals that the stock has "breathe", and it is ready to continue going up... meaning the bull run is not over yet. WEED's new all-time-high reached 74.45CAD. It is currently sitting at 61.52CAD at the time of writing this idea. Moving averages remain bullish and RSI is in the neutral zone. Personally, I would enter this position but the opening price has to open above 50% of the candle's body from Sept 14. If it does, I will enter a long position with a contract that will expire after October 17th. I speculate that the bullrun will go a few days before Oct17th. The dump will then happen the day before, the day of, and the day after the 17th. Once that happens, I will then enter a short position and ride it out until it hits the new support which was the previous resistance(upper blue line). I stalk these charts day and night. I am BALANAR!!!!! Longby balanar_NS3
back test. Bullishbullish back test of prior resistance here. Could be a set up to 77 $WEED.ca $CGC $CRON $MJ $HMMJ.caLongby chaching232
still uptrend: big bicturea little more exponential than i thought. 1st red candle on weekly (for now) in 9 weeks. Holding calls $WEED.ca $CGC $MJ $CRON $TRLYLongby chaching231
Will we see 80 by November?We had the pullbacks as expected. (a nice little short). Now it appears we may have another small pullback forming or more likely, just a consolidation. Then our final push to 80 bucks by Oct 17th./Nov 1st. Then as we enter the November profit taking season I would think we would see a strong pull back to 60 zone. Long term (Months) A solid investment, buy on the dips. This is purely opinion, and opinions are expensive if you marry them. The market has an obvious bullish bias, and I don't expect that to change anytime soon. I use trend channels as guide to help me take advantage of swings and price movements. As always, never risk more than you can afford to lose. I am not a professional trader, just an average guy looking for opportunities like the rest of you. Longby 4XRandalllUpdated 4
The Runs Not over - Strong Rebound over the next weekSpooked by unconfirmed reports of a spookster that stated, The US would not allow Canadians who smoke, invest or do business with a Marijuana is a falsified claim. Stocks will rebound and rebound hard they will. Within 2 weeks time, we will be retesting 52 week highs leading into legalization. Strong bullish bounce coming in the morning. Longby isnarain4
WEED could see some consolidation before surging upwardsAs WEED is the primary driving force in the sector, its performance is important for everyone else in the cannabis space. Baring any huge news events, some consolidation is likely (but not certain) next week for most cannabis names. My thoughts are outlined above. The cyan lines represent potential price trend and action heading into legalization, but this could change rapidly depending on news events. I wouldn't be surprised to see a ramp-up of announcements heading into the big day. Use your own judgement before investing and always use a stop-loss.by Level8Trading5
Short WEED/CGC based on ascending wedge resistanceChart is self explanatory - we are at resistance inflection point. The stock has had a huge run up, the higher probability odds is that price retraces down to $50 area prior to the next leg up.Shortby PontusTrader3