This ETF have been steadily falling over the past 5 months reaching a low close to $13.50 which is the December drop.
I suspect that this is an important zone for investors to maintain this support.
A minor rebound is expect back to the EMA and perhaps run along side ways.
Despite expectation from the analysis that Cannabis will grow 300% in the upcoming year.
I don't see how this will come to fruition when Canadian market still sorting out the industry >>...
If you don't live in Toronto, you might not know this, but street Cannabis store is still operating even when they are forced to shut down.
In the short...
I would only suggest that you be very very careful in the coming months.
TSX doesn't look too good in the past few months.
It is hovering within a range while A LOT of stocks is dropping like flies.
I am only holding Dividend paying stocks at the moment.
Some Gold helps.
Just gotta sit this one out.
My overall outlook for Cannabis remains bearish since the market haven't given any reasons or indicator that it is going back up.
However, Bruce Linton himself, the former CEO of Canopy, recently purchased more stocks.
This could only mean that the confidence for this company is still running strong despite the recent changes to the company direction.
I only use primitive analysis on my stock picks.
Breakout of resistance at $77.39 at the moment, but I wouldn't be too hasty to jump in yet.
I frequently get burn for false breakout sign. The best thing to do is to wait until the price make the resistance a support, then decide what to do with the opportunity. ;)
The MACD is showing a pullback on the 4h &...
I am a bit optimistic abut WCN. I like the long term stability over many years.
I believe this recent fall is only temporary, should hold off until the price makes new resistance at $122.30 before determining that this is going to be a mid term short.
This ETF had been down since early this year and it hasn't improved ever since.
At this rate, it just might return to the $13.50 zone where it all began.
The MACD that I programmed that allow me to see 3 different timeframes all shows down DOWN DOWN!!!!
Guess I shouldn't complaint about it. If you don't know what a downtrend is, you are looking at it and it is...
With the awesome earnings report in the Q2, Google jumped almost 10%! >:O
Is that a good thing or a bad thing?
Technical shows that there is an upcoming resistance level.
Will it breakout, or will trader sell off? :3
I am not betting for this stock to drop nor in favor of it going up.
With the MACD appeared to be seemingly showing signs that it wants to go Bull. It is not good enough.
The news might be saying good stuff about CRONOs, but the Canadian cannabis market is a disaster.
With the stock trading between the range and close to earnings report.
Unless the earnings...
I like Intel! Because I use one in my computer. It is 12 years old and still running strong, but Intel is talking about AI computer chips that is suppose to 1000x faster than our current CPU. :P
Absolutely insane!!! We are not even talking about quantum computing yet!!!
Looking at the chart, we can see that Intel is slowly recovering from the drop in April...
This is the time to exercise your patience guys!
Last week I thought that TD was breaking out of the resistance of $77.46 which it did.... FOR ONLY LIKE 2 DAYS!!
Then it retraces back to the 20/50 EMA. TD is playing it safe and so are the investors.
Can we expect future events from the chart? Maybe.
I see that the MACD is also moving sideways and it has no...
HEXO had taken a huge beating for the last 2 months. It was projected to hit $12 this year, turned out the government messed up so badly that the stock plummeted.
HEXO found support at $6.60 range. Today heard more news about pricing issue that black market cannabis is still much cheaper than retail... (as it should)
I can expect this stock to breakthrough...
Not much news from the Cannabis industry beside all the ones you probably know.
Yea, Canadian work slow~~ and the citizens are rebellious at times with their own weed plants and cooking up their own cookies. :P
Something interesting came to mind.
Why not look for stock that serve the Cannabis industry like [Innovative Industrial Properties, Inc (IIP)]
Canadian cannabis market is still in the process of sorting itself out between Legal and Blackmarket cannabis.
New challenges ahead if the Cannabis sector do decided to produce products such as edibles and beverages which will also incur additional cost to process.
Given the circumstance that Cannabis industry is in, many recreational smoker now have the...
This stock had been steadily moving bullishly throughout the year with little influence by economic condition. The sudden drop in Dec 2018 did not even budge this stock. For a long hold, this stock is a good addition to the portfolio considering the underlying business is to offer quick consumable goods to consumers at the gas station.
Downside is that it...
Expecting the bearish momentum to continue as the Cannabis market in Canada trying to stabilize between Black-Market Marijuana and Legal Marijuana.
This trend is likely to continue until we can see some solid earnings.
At the moment, the MACD momentum isn't showing any signs of slowing down.
Will have to wait for few more days to see where the candlestick will...