McGuireTO

McGuireTO

CRON was the one setup I was most looking forward to this morning with it's multiple daily inside bars and triple bottom in the $10.80s range. That setup was ruined with a higher open, and profit taking all day. While the daily candle is very bearish, CRON did hold key support and broke the hourly lower high pattern. To fully shift momentum back to their...

McGuireTO

I'm still impressed by the ACB bulls with their bounce hitting the very top end of my target zone, rejecting from the .786 fib pull just below $13.00 resistance. Having lost the hourly higher low pattern this afternoon I'm confident that our new daily lower high has been set. I'm looking for an equilibrium to form, and anticipating a higher low relative to 11.21...

McGuireTO

CGC opened significantly higher considering the big bearish momentum Friday afternoon into the weekend. Bulls made two attempts first thing this morning to break the high of Friday and fell short both times, resulting in profit taking and another close down at the low of the day. We have an inside bar on the daily to watch for clues. It's worth noting CGC has...

McGuireTO

TRST is one of the few names that held its uptrend intact rather than breaking key daily support. low of Friday 11.26 is the new must hold level for the bulls to maintain the uptrend. Bulls finished strong at the high of the day, and just below what is essentially a quadruple top on the daily at 12.75. The hourly chart is over extended, having seen 7 green...

McGuireTO

HEXO had a huge breakout on big bull volume late Friday, and only has three resistances from here - High of Friday 8.85, 8.95, and all time high 9.09. The day ended with the bulls trying to form an hourly bull flag. I'm personally looking for a backtest of either the daily breakout level 8.64, or the hourly level 8.55, which will be must hold levels if the...

McGuireTO

ADBE has been a beast for a long time, but there are signs the bulls may be exhausting. The daily chart is looking toppy with upper wicks of profit taking and clear resistance at 272.50, and a potential bearish reversal Head & Shoulders pattern forming on the daily. The support to break is 257 to confirm the pattern. The daily chart is setting up minor RSI...

McGuireTO

CRON formed its second daily inside bar on Friday as the range tightens up and the volume drops off. I'm looking for a break of range and a volume spike on Monday. I like inside bars because they signal equilibrium (pennant) patterns on a lower timeframe. Sure enough if you zoom into the hourly chart you can see a beautiful equilibrium playing out within our...

McGuireTO

After breaking its daily uptrend, APH bulls showed up Friday looking to set a daily lower high compared to 20.57. I'm expecting a back-test of the daily MA20, currently at 19.51 in the current configuration. I don't like any bull entries in APH right now based on the daily chart, but if you zoom into the hourly we see the bulls trend trying to change the trend,...

McGuireTO

ACB broke key daily support but bulls bought the dip and finished strong near the high of the day, completely ignoring the end of day dump by the sector leader on bearish news. Price bounced just below the .382 fib level from low of consolidation to our recent high. The daily volume was far less than I would have liked on this move, and so I expect a daily...

McGuireTO

WEED started the day Friday with a gap down open just above our key daily level, providing a great bottom-fishing opportunity to play in our daily equilibrium. The entire move was given back in the afternoon when news came out of Canopy withdrawing their 'Chronic By Dre' trademark request after forgetting to get permission from the rapper to use his name. The...

McGuireTO

CGC started the day Friday with a gap down open just above our key daily level, providing a great bottom-fishing opportunity to play in our daily equilibrium. The entire move was given back in the afternoon when news came out of Canopy withdrawing their 'Chronic By Dre' trademark request after forgetting to get permission from the rapper to use his name. The...

McGuireTO

CRM is a name in a long term uptrend I really like for a long, and the technicals are telling me a long signal may be coming up soon. But first, we're getting some pretty clear short signals that I fully intend to take advantage of. CRM has been trending up in a long term channel and recently the lower support line has risen much sharper while the resistance...

McGuireTO Updated 

TGOD is on top watch for me tomorrow. Down 32% since hitting all time high last week, and now hourly oversold with RSI of 23. Hourly RSI 18 is a historical bounce point so if the bears are aggressive tomorrow with a flush first thing we can look for an entry, otherwise there is still room to the downside so I will be very patient waiting for the move if it...

McGuireTO

WEED small gap down open today, pulling back on a significant increase in bear volume is certainly a concern for the bulls. The weak afternoon bounces certainly have me looking for possible bear-flag confirmation and to further downside; bulls must hold $62.02 and break above $65.05 to negate that flag potential. Key support for the bulls to maintain the daily...

McGuireTO Updated 

ACB opened right at $12.00 price support from yesterday and broke it on open, and wasn't able to recover it later in the day. This is not game over for the bulls, as chart support remains at $11.44 but it's certainly a stronger pullback than the bulls had hoped for just 3 days after reaching new highs in reaction to earnings. IF there's any consolation for the...

McGuireTO

CGC small gap down open today, pulling back on a significant increase in bear volume is certainly a concern for the bulls. The weak afternoon bounces certainly have me looking for possible bear-flag confirmation and to further downside; bulls must hold $48.90 and break above $50.00 psychological to negate that flag potential. Key support for the bulls to...

McGuireTO

APH was by far the weakest name in the sector today, breaking $18.57 support and signalling a major red flag for the bulls, putting the chart into a daily downtrend with a lower high and a lower low. $17.76 support broke as well, and the last level we have to play off of is the low of the oversold bounce $15.76. APH rejected on open from daily EMA4 & EMA8. The...

McGuireTO

APH is in a tightening pattern on the daily and the afternoon bounce today gave us an hourly lower high, and a new resistance to play off of, 19.88. Low of the day was 18.78, this level is important but the key support for me is 18.57. If we can break 19.88 and hold 18.57, that significantly shifts the odds that APH can break this daily tightening range...