Level8Trading

Level8Trading

As 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...

Level8Trading

Now that bill C45 (legal cannabis) has received royal accent Aphria is free to make a move. If Aphria can blow through the $13.15 range tomorrow it's likely to keep going to $15.00 before finding any resistance. Once $15.00 is reached Aphria would need to go above and then come back and find resistance at that level before making another move up (ideally—this...

Level8Trading Updated 

ACB tested the $8.20 range all last week, and like a lot of the cannabis sector is forming a small ascending triangle. Upward momentum is slowly increasing. If volume is good it could make a move towards the 38 Fib, but probably not quite make it, early next week--around the $8.70 range. If this move up does happen I believe it will hold support above the 23 Fib,...

Level8Trading

TRST is following LEAF and showing some nice strength. I wouldn't be surprised to see price rise again next week. The market seems to see CannTrust as a potential buyout target for one of the big three or four. Great company, let's see what happens next week.

Level8Trading

OGI is beginning to look good again and is likely to continue the push upward. They have several key news events coming this month that should draw some attention. Plus the looming legalization vote that should go through June 6. OGI is producing net income, something only a few LPs can say at the moment. Their facility is top class and they use a three-tier...

Level8Trading

On the weekly chart, THCX is looking good and appears to be entering break out territory. With the Senate vote early in June THCX could be on the verge up exploding upwards. With approx. 108 000kg of production capacity coming online by the end of 2018, THCX should not be overlooked.

Level8Trading

TSX:TRST appears to be entering a techinical break out with strong support from UIT Funds. Five times the average volume today and the $7.17 resistance point has been smashed through. Strong upward momentum is showing on the indicators. This is a great company with strong pharmacuetical connections and distribution channels for its product.

Level8Trading

THCX bounced off the strong $4.37 resistance point for the sixth time today, and it has been wedging itself between this resistance and the 61 Fib. Volume is above average and an ascending triangle has formed. Stochastic and squeeze momentum is showing decent upward pressure. If it can close above the $4.37 mark in the next few days a breakout could happen and at...

Level8Trading

Next week could be crucial for THCX as volume has slowed and a wedge or squeeze is forming. I see two things possible; either it moves hard back down and fills the gap, or an impulsive move up if any big news hits. THCX should be moving up to the TSX in May, so I view any drop in price as a good buying opportunity If it breaks below the $4.02 - $4.07 range it...

Level8Trading

THCX is following WEED very closely in movement and has a stronger 6m chart than APH. THCX = blue; WEED = green; APH = pink