CGC has been getting tighter and tighter in the two weeks since the oversold bounce Sept 14th. We're at a point on the hourly chart where we're likely to see a break, giving direction for the entire sector heading into next week. Daily candle is still bearish, indicating we could see further downside to start the morning. However if we hold the low of the day...
My last published piece on ACB indicated the bulls were looking for a new base of support, and today it's become clear that line in the sand is $12.00. The day started with a higher open and a strong attempt to break $13, and profit taking starting a minute into the day. Bulls immediately fill the gap to the penny and tried to rally from there, but were unable...
Tomorrow, HEXO enters day 5 of the right range from 8.12 support and 8.63 resistance. Breaking this bearish will have us test supports of 7.71, daily MA20 and 6.76. Breaking bullish will have us test 9.09 all time high, and potentially break that. Volume on the break will be my key indication of power and momentum.
ACB had a big gap up on earnings this morning and saw a continued run into their conference call, however when the call failed to deliver a news catalyst investors started to take profit, breaking the low of the day and dropping to test former key resistance $12.56 as support. This bearish candle suggests further downside tomorrow, and I'll be watching two key...
ACB spent the better half of Friday defending $11.75 as a line in the sand, despite the hourly bearish MACD divergence. If that cannot hold I would not expect 11.65 to hold, resulting in an Inside Bar bear break. From there I would zoom out to the 4hr chart and look for a higher low compared to $10.18 and a tightening range from there. Investment rumours from...
NIO's IPO was welcomed with much fan fare but has weak since close of its second day trading. I'm watching a tight 4hr pattern here, but coming across some fundamental information has me leaning bearish on this stock. As for the fundamental news, the author of the article linked below poses the $12 billion question: "A question. Is the untested EV startup NIO...
The similarities I've highlighted here look better on WEED.TO than on CGC because Jan 15th saw the TSX trade but not the US exchanges. That said I'm looking at similarities in the first oversold bounces following the last two all time highs at 44.00 in January and 48.72 in June. Subsequent those bounces we saw a tightening range playing out across more than a...
The similarities I've highlighted here look better on WEED than on CGC because Jan 15th saw the TSX trade but not the US exchanges. That said I'm looking at similarities in the first oversold bounces following the last two all time highs at 35.88 in January and 36.55 in June. Subsequent those bounces we saw a tightening range playing out across more than a week...
ECA.TO has been consolidating in this downward channel for the past 7 weeks after a 5th rejection from the $18ish area. This is clearly a significant breakout resistance going back for 3 years, and it makes me wonder if there is a fundamental reason for this resistance (similar to the fundamental reason for TSLA and $360.00 resistance). The long entry on this is...
CRON was all bulls today out of the gate setting a new all time high before pulling back hard. I'm watching the CRON range expecting a daily equilibrium from low of the oversold bounce to high of today. It's notable CRON is the only name that hasn't lost it's 4hr uptrend. I'll be remaining very patient as the next couple of days set a tightening range with new...
Watching the APH.TO range from low of the oversold bounce to high of today. Today we saw our lower high set and bulls are now looking for a new support level above 15.76. Today's low bounced right off the .5 retracement 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 new support holds. I'll...
Watching the ACB.TO range from low of the gap up on Monday morning to high of today. Today saw significant bull breaks of key levels 11.77 and 11.98 leaving very few resistances left until the all time high. However, some healthy consolidation is required. Today's low bounced right off the .5 retracement of the fib pull with swing low as the oversold bounce...
Watching the CGC 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...
Watching 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...
Canadian energy sector has been hit hard as of late, and VLE.TO has been no exception as it continues to trend downward in a channel. A beauty of an equilibrium is currently playing out on the daily chart right now new the top of that channel. A bear break will have us retest the lower limits, and a bull break on big volume will be a notable shift in momentum...
SQ 4hr chart equilibrium break will give direction for the coming week - breaking up above 92.39 increases confidence in continuation to new all time highs this week, and a break of 89.31 will have us looking to test 83.34 as a daily support. The weekly chart is getting extended with 6 green weeks in a row and a bearish reversal spinning top doji on declining...
CRON low of Friday was just below the .5 retracement from low of consolidation to all time high 13.39. It had the weakest bounce Friday out of the big four, rejecting hard from the .382 dump retracement whereas other names hit the .5 or in the case of APH hit the .618. Watching the hourly chart for a break of it's tightening range to indicate short term momentum...
APH After retracing almost .5 of the move up from the low of consolidation before the constellation news breakout to our recent high, I was watching for a lower high to be set in the mid $19 range, right around where we closed Friday. It will be notable if the bulls keep pushing higher, and when they tire out I'll be watching for a higher low compared to low of...