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ACB

ACB: Monthly Time@Mode trend in action!$ACB presents a very interesting monthly buying opportunity here, with tremendous upside potential (not devoid of significant risk). It's at a great spot for long term acquisition here, so I issued a buy signal for my clients today. If the market fails to hold up and goes below 7.56, this company is in problems...as long as holding above, we have 14 months to reach the 36 handle zone. $CGC has outperformed it for now, but I like the chart and the less crowded trade present in this stock. Best of luck! Ivan Labrie.
ALong
by IvanLabrie
ACB up trend not (yet) lostNot sure how long this will continue, and I do suppose it depends a lot on the broader market right now, but while a trend line is hard to draw anymore, one last characteristic of this 3 month old up trend is still in tact. Bouncing on the 26 EMA seems be to be a thing. Meanwhile the RSI has properly cooled . The whole set up looks pretty fragile at the moment, in my opinion. While support was very strong at $8.80 before, bulls allow the price to settle here today. We need a proper bit of news, otherwise the bears may take the upper hand for a time.
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by Barkworth
$ACB: A closer look at the dipMy last analysis of $ACB was on the larger time frames which indicated more upside in the coming weeks. Now let’s look at the 4 hours time frame: I’ve indicated zones that we continue to surpass & each new zone we enter, we go into an upwards channel. If you have not entered, watch for price to bounce off of upwards channel before entering. Identifying the upwards channel in each new zone is a great opportunity to gradually add or for a first entry point before we reach all time high. Also, $ACB was recently rewarded with the maximum number of lots in German cannabis tender. This is jus the beginning of many great news to come. A partnership with a large consumer company (in the works with Nelson Peltz) and the R&D expansion will shoot this stock through the all time high in my opinion.
ALong
by Litwolf
ACB EquilibriumBuy on rumour, sell on news. Really great news about licenses in Germany, yesterday, wasn't enough to give ACB an impulse. This is a clear reminder that most investors don't really care about actual news. What we want is promises about pink clouds. We have had 3 of those pink cloud promises since January, inflating the price to a lower high on a period of a year. After yesterday's news, a bit of progress that further solidifies that ACB may be a world market leader some day soon, we saw indifference and ever decreasing volume. On the weekly, we see a range of indecision candles on the daily chart. Small, centred bodies with equal wicks under and over. Bulls and bears are in perfect equilibrium. Buyers are at the $8.85 range, giving bears the upper hand at resistance level $9.30. These will be the levels to hold next week. Break through support at $8.85 would send the price down to test $8.68 and lower, breaking $9.30 would send the price up to test $9.42. Another thought came to mind just now, which is that the AVERAGE of ALL ANALYST TARGETS for ACB, is $9.15. Have a great weekend, and please, DO SHARE SOME OPINIONS if you have them :-)
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by Barkworth
1
Continued PullbackDoesn't look like we're done with this pullback. I pulled out rather late around $9.40 for some small gains and waiting for a lower $8. Hard to calculate where price is going to be when trading is based on catalysts or emotion. Just have to wait till it fizzles out to make a play. Continuing to watch this playout and again, hoping to buy at a really low $8 range and buy more if it breaks down. A sure buy would be later if it breaks out of $10 range which will surely bring price target to previous ATH. *Shrug* I can't say this enough, the marijuana sector / medical or recreational is a long term play up to 5 years or longer as we see where things grow and settle. If you're in it for the long just buy and hold.
ALong
by DanielsDisaster
6
ACB should see a minimum 8% correctionAs announced today, ACB will further dilute their stock. We'll ignore that management earlier said that they would not further dilute their shares, and what this news could actually mean. Lets just look at the stock alone: $750.000.000 worth of extra shares means the speculative future value just dropped with at least 8%. Investors should act accordingly, and send the stock down. We were already in a down trend channel, with increasing bear volume. I don't expect the market to take this news as an incentive to buy more shares. I am looking at the current levels. We may see the February 4th top tested at $8.32, which is a FIB level, not quite unexpectedly. We still have a gap to close down to $8.25, and there is no telling where investors currently have their stop losses. When the current uptrend is lost, we'll be looking at the larger FIB retracement levels as specified on the left side.
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by Barkworth
ACB FIB Retracement SuggestionIn my humble opinion, the RSI is the first indicator that the 3 month old up trend has been broken, or is about to break. RSI fell below its trend line, tried to move up, but bounced. 1) ACB is currently in limbo, with no clear direction given. Buying and selling are in perfect equilibrium, but volume is leaving, certain to give bears control at some point. 2) Still no actual news, only expectations and promises, followed by news of more stock diluting. Without news, there is nothing to send ACB a leg up. The broader cannabis market seems to move toward consolidation, after three months upward movement. This trend shift will certainly influence ACB's price, in line with its peers. I am not an ACB bear, I am a realist, and long term bullish. Using ordinary FIB mathematics helps find the levels to look for. I find math fascinating. Not only does math give us $7.44 as a target of the current retracement, it is also the FIB0.5 of the 3 month long move upward. Logic projects this target, lets see what reality makes of it.
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by Barkworth
2
ACB needs to fill the gap down firstOf course ACB is our long term winner, but dreaming her to $15 is not going to cut it. Looking at the monthly charts, we're looking at a pretty extended candle for March. Volume is leaving the big names, many of the pot charts look choppy. ACB is in a clear downtrend channel, soon to submerge back into its organic growth channel, leaving the uptrend intact, but eliminating the overbought element like it has every time it was overbought. We have to keep in mind that ACB's current price level was a consequence of two analyst targets and the announcement of Nicky Peltz involvement. Earnings disappointed, and nothing else has been achieved in the meantime. So ACB went up on mere promise, without anything to make the current levels sustainable. If she does retreat back into her organic growth channel, it would mean that the uptrend from the past 3 months is lost, and we need to start looking at FIB levels of this longer term, rather than those of the most recent leg. That places key support at $7.45 and $6.80. It will be a bumpy ride down there, bit up, bit down, until we finally get some real news to initiate a new rally. ACB is on ALL TIME HIGH WATCH for me, but not this month.
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by Barkworth
3
ACB: a buck up, then a bucket down?Do we see a long term upside? YES! Do we see a short term upside? Looking at the past year, with those two huge mountain tops, I think we would be wise to be VERY careful... Last three months are three giant green candles. March's candle is green with an epic wick on top. TA is never wrong. Maybe we'll see an indecision candle for the first week of April, but the month is guaranteed to be big and red. At best, we'll see a buck up, then a bucket down.
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by Barkworth
ACB - Market OverviewThe price bounced from 10.00 level and moved lower. RSI confirmed the price reversal. MACD histogram supports a downward movement and MACD lines are going to do the same. DMI is bullish, but ADX line falls. It tells us that buyers are not so strong now and a correction of the uptrend can be continued. There are two possible entry levels for buying. The 1st level is above 10.00 resistance and the local swing high. If the price breaks it, it will confirm the strength of buyers and the continuation of the uptrend. The price will be able to reach the previous highs at 12.00 level. If the price continues falling, the support zone formed by 8.00 level, the uptrend line and combination of MAs, it will be able to stop and reverse the market. This zone can be used for buying based on a confirmed reversal signal with targets at 10.00 and 12.00 resistance levels. The falling below the support zone will confirm a trend reversal and the strength of sellers. The market will be able to reach the previous lows and the 1st one will be at 5.50 level. The support zone between 5.50 and 4.50 levels also will be able to provide interesting trading opportunities.
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by DLavrov
4
Selling the Cannabis Bubble (Part 2)The pot bubble is going to burst. From the technical perspective we are pulling the trigger here after retracing 61.8% of the initial leg to the downside from the highs. For those who believe in the bearish story for the industry, now is the time to get back to work on the sell-side. More and more funds with large central books are starting to open up positions writing upside vol from here onwards . The easier play in this field is to just short the common stock with targets at the bottom of the range. The drug although very safe does not have any reasonable medical benefits. Obviously we have the lifestyle/recreational benefit but not any obvious health benefit other than epileptic syndromes. I do think it has some analgesic properties but these have to be understood through more clinical trials and et... to put simply we need more robust toxicology and clinical understanding here before any further upside is unlocked. Best of luck those who are already positioned on the sell side in $WEED and the others.
AShort
by ridethepig
7