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Auroracannabis

ACB to start next impulse waveMy sentiment on ACB is currently bullish, based on the following: - EMA 50/200 cross down on the daily december 20th 2018 marked loss of the daily uptrend and start of weekly consolidation - EMA 5/20 cross up on the weekly formed yesterday with strong close and after hours action - EMA 50/200 cross up for ACB is very close on the daily, signalling end of consolidation (not shown on this graph, check the ACB weekly EMA cross 50/200 - Cup handle break-out pattern completed - Volume surge of 64M + 3M after hours; which equals 2 times the average 3 monthly volume - Good upside potential, acceptable downside risk - Bounce of on 0,618 Fib retracement. Long term uptrend intact, ACB is in a strong uptrend on all lower timeframes (2H/4H/daily) - Sector momentum Most likely scenario: - Be wary of profit taking; use protective stops! - Form Lower high compared to october 2018 top; estimate 9,5/10 USD depending on follow through - Retrace to higher low; estimate 6,4 USD range - Bounce and move on rising bottom support to horizontal resitance on previous highs; break to new all time highs This may take some time to play out on the longer timeframe. This is not investing advice, just my vision of how this may evolve. Always do your own research, don't but off random tips on the internet! Peace, all comments are appreciated!
ALong
by SeqZ
2
ACB - Time for a reversal ?Dear Traders, ACB took a huge hit, but i'm happy that thanks to my previous TA I expected a big drop. I saw a Bearish Divergence and I stayed far away from ACB, WEED, TGOD and APH. But i decided to have a look because a reversal in imminent at this price. On the 1hr chart I see a Kangaroo Tail which is a bullish pattern, and I also see that my histogram is showing a Divergence, a bullish one. I think we might see a little uptrend towards 8.90C$, which is our 21 ema (Resistance), if that breaks, we should see a run towards 10.25C$ which is the 55 ema. Let's keep an eye on this one tomorrow.
TSX:ACBLong
by Raw_Blitz
2
Aurora the weakest of the big 3ACB is the weakest 4hr setup of the three names I typically follow in the mj sector. We're in a 4hr equilibrium but the bulls are not giving any confidence here, having failed to even set a lower high the way Canopy and Aphria already have. support to hold is 9.14 and resistance is 11.29. A break of 9.14 support area and we're looking down towards 9 psychological, and then 8.64. A break of 11.29 resistance and we're looking to set a daily lower high, compared to 14.36. I'd be watching the Middle Bollinger Band on the daily chart as a likely profit target, as price tends to reject the first test of this level. That's currently at 12.43. Update that level each day. The addition of ACB to the NYSE opens it up to a whole new class of people who can short the stock. I didn't realize that OTC tickers could not be shorted. This could explain for the much greater weakness in this name. The direction CGC breaks will likely dictate how the rest of the sector breaks. I'll be looking to play the more bullish names on a bull break, and I'll be looking to play the weaker names like ACB on a bear break. The daily setup here is a bear flag, I need to see a bull break of the equilibrium to negate the bear flag. IF we get a bull break, it would almost certainly not happen tomorrow, but next week instead. _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market. The correlation of every individual name and sector to SPY is very real and the market is showing significant weakness over the past three weeks with warning signs of further potential weakness potential into next week. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:ACB
by McGuireTO
8
Watch ACB 4hr for short term momentumTaking a different approach today, starting with the long term weekly chart. ACB has a bearish reversal candle on the weekly chart and a potential volume climax. The weekly trend is not at risk of being lost anytime soon because of how hard we have run up. Our weekly support currently is at 7.65 and now that we've lost the daily uptrend we are in search of a new weekly support level. We have support with weekly MA20 and MA50 in the low $9 range. Update these levels weekly. "So, what happened this past week?" This is a question a few people have asked me in person and online over the past 24 hours. Let's go back to the daily chart to look at the setup we had going into last week. Monday we saw continuation of the daily breakout from the previous Friday and finished strong at the high of the day. In almost every idea I've published over the past few weeks I've been reminding people that the sector has run over 100% in just a few weeks, and that was neither normal nor sustainable. Therefore, we were looking for a sell-the-news reaction to legalization. I was expecting that Wednesday and we got that on Tuesday instead, in the form of a gap up open, a volume climax and a bearish reversal candle. Wednesday and Thursday we saw a weak bounce attempt with a potential daily bear flag setup, with the low of Wednesday a must hold level. ACB has not yet lost that level, making it a stronger chart than Canopy which broke that level on Friday and confirmed the daily bear flag. ACB currently sits within a daily range between 11.91 support and 14.36 resistance. On Friday we saw the bulls make an attempt at that resistance but fell short and dumped for the rest of the day, finishing close to the low of the day on increasing bear volume and looking to start with further weakness into next week. ACB has wicked below the daily MA20 but has yet to close below that level. The daily chart has broken below an RSI support line and the MACD is initiating the strongest bear move it's made since back in July. As I've mentioned we've already lost the daily uptrend; losing 11.91 support would initiate a daily downtrend with a lower high and a lower low on the daily chart. The $9-10 range has good support with the MA50, MA100 and MA200 all overlapping in this range. Update these levels daily. With weekly and daily indicators all lining up, I would expect the bulls to defend this level on the longer term timeframe. The 4hr chart shows the clearest details in my opinion. Bulls are trying to hold 12.69 as the higher low in the 4hr equilibrium but we're not yet confident that our higher low is set. This is a tightening range that could continue for several days before we see a clear break of this pattern. I have no real interest in playing within this pattern because the action is generally choppy, and I know the break of these tightening ranges will carry significant momentum and followthrough for me to play either as a bull or a bear. Let's zoom in for more detail better explain why I anticipate further downside. Looking into the hourly chart we see exactly why we have a setup for further weakness with an hourly bear flag. Friday we bottomed out when CGC hit hourly oversold and the sector saw very weak bounces on low volume when compared to the bear volume on the dump. Confirming that bear flag by breaking 12.69 means the bulls have not yet found their 4hr higher low and we will continue to look down towards 11.91 support. For anybody interested in playing within this range, the closer we get to 11.91 the better your Risk:Reward becomes as you have an entry much closer to your stop loss level. If you're the type of person looking years out and holding, you don't care much about the last half of this post but you are very interested in the weekly chart above. While the weekly trend on ACB is not yet at risk Canopy will be testing that level on Monday. This signal from the sector leader gives you an opportunity to stop out and look to reload, for example, 10% more shares for 10% cheaper with the same amount of capital. That's one more way you can compound your gains on these positions even when we see consolidation on the longer term charts. _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market. The correlation of every individual name and sector to SPY market is very real and the market is showing significant weakness over the past three weeks with warning signs of further potential weakness potential into next week. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:ACB
by McGuireTO
11
ACB sells the news into legalizationACB saw a big gap up and a big push in the first few minutes, followed by an aggressive dump spanning 20 minutes as traders took profit, knocking the stock down an immediate 16%. ACB bounced just five cents above former resistance 13.60 - former resistance now support. The RSI also rejected from a downtrend line spanning the last few weeks. The MACD on the daily signals a very weak move from the daily breakout and the volume today looks like a volume climax - often a signal of a trend reversal. We are very confident that on this pullback we will retain the daily uptrend and set a higher low above 12.50. Tomorrow I'll be watching for support at the low of today and at the daily EMA8. Key support to hold is low of the day 13.65. Key resistance to break to tell us our daily higher low is in will be 14.96. On any continued bull push I do expect a lower high relative to our new all time high 16.24 We knew the rug was going to be pulled out at any moment, and I was caught a little off guard that it happened first thing this morning but luckily took profit on all my swings on the big gap up open. I do hope everyone heeded last night's advice to set your stop loss orders. Big institutions have been loading large positions in Canopy with CIBC and Anonymous combined purchasing roughly $500 Million worth of shares in the past month. Be aware these whales can start unloading massive positions at any time without notice. imgur.com
TSX:ACB
by McGuireTO
12
AURORA Cannabis Inc: Producer WEEKLYReentry price action levels to watch Description Aurora Cannabis Inc. produces and distributes medical cannabis products in Canada and internationally. It is vertically integrated and horizontally diversified across every principal segment of the value chain, including facility engineering and design, cannabis breeding and genetics research, cannabis and hemp production, derivatives, value-add product development, home cultivation, wholesale, and retail distribution. Aurora received a license to sell cannabis oil in Jan 2017 & in In May 2018, Auror Cannabis purchased MedReleaf Corp. for 2.5B News: First LP to launch a high-potency, vape-ready CBD oil product line. Launched today under the brand Aurora Cloud, the first products released contain over 550mg of CBD and less than 30mg of THC, making them the only vape-ready CBD products legally available in Canada. Current Total Square Ft: 143,000 Future Total Square Ft: 943,000 Location: Cremona, Alberta, Canada Website: auroramj.com Number of Employees: 171 Market Cap: 9.527B Ave Volume: 4,922,898
AShort
by Charts_and_Such_1
ACB double tops at all time high, needs follow-thru tomorrowACB saw a gap-up and run open this morning on big bull volume, continuing the daily breakout from Friday and finishing the day up 10%. ACB hit a new all time high today by two pennies but that's effectively a doubletop at 15.22 so the bulls are going to need more follow through tomorrow. That shouldn't be an issue, with a close up near the high of the day.We're riding well above the daily Upper Bollinger Band as support. We see daily RSI has broke out of its channel and is approaching recent highs, and the MACD has started to curl up. We're looking for a higher MACD spike tomorrow. When stocks are at all time highs there is a lack of resistance, so we look for psychological round numbers. $15.50, 16, 16.50 etc. $20, should we get there, will especially be tricky. Our key support is 14.63 on the hourly. We also have a little support at 14.79, and 15 psychological. Keep walking your stop losses up. We're in a euphoric bull run and we want to protect our profits from any sudden sell-off. Also keep in mind the correlation to the overall market. SPY has its second daily inside bar to watch the range of tomorrow, and while a bearish end of day didn't affect the mj sector today, we have seen countless times where it has. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:ACB
by McGuireTO
9
ACB the first in the sector to breakoutYesterday I pointed out that ACB needed to regain the hourly uptrend as a sign for a continued bull move. Anybody who acted on that signal had a very profitable day today! The key was 12.98 and if you bought that you would be up 6% already! ACB has been the most bullish chart for a couple weeks, and today saw that play out with a key break. The key daily break today was the break of 13.60, which we saw on increasing bull volume today. I am concerned about two things, however. First, the MACD on this move up is very weak. Second, last time we broke resistance in the mid 13-range we saw no follow-through. Bulls will have to show us conviction of this break Monday on big bull volume in order to negate a potential ascending wedge pattern, as well as to give some confidence to this struggling MACD. Our new must hold support to keep the bulls in charge is 13.24, and anything above this would be a higher low. After today we only have three resistances left: 13.75, 14.10, and our all time high 15.20. As of close, we're only 11% away from that all time high. CGC and APH also have very nice daily setups heading into next week; let's see if this ACB breakout will foreshadow what those names will do on Monday. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:ACB
by McGuireTO
4
ACB must change the hourly trendACB looked to be trying to print a daily bull flag but the pullback today and close near the low is more than enough to negate that in my mind. I find the clearest picture on the 1h4 chart where we have a clear downtrend of lower highs and lower lows. Our lower high of resistance is the high of the afternoon bounce 12.90 and high of the day 12.94 but really I'm not interested until the price can break above $13.00 psychological reisistance. Key level on the hourly chart for the bulls to hold as step one in taking back control is 12.50. If we lose that level, I'll remain patient waiting for a new support to be found and watch the top of the subsequent move to see our new resistance level. For the record, ACB has now given back 2/3 of the move subsequent to them filing their uplisting documents with the SEC. For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:ACB
by McGuireTO
9
ACB daily doubletop on watchACB had a big gap up on the release of their impending NYSE uplisting, however the bulls we're able to get much followthrough and spent most of the day consolidating sideways with choppy action, setting a new high of day only to break the low of day a couple hours later. The daily chart shows RSI breaking out bast its resistance trendline but the doubletop at 13.60 and 13.48 shows a significant band of resistance in this area. We also have historical resistance at 13.75 from back in January. We have a lack of support on the hourly chart because of the gap up open, so when we lose the low of the day we lost the hourly higher low pattern in my opinion. I am looking for some further consolidation before the bulls will be able to continue on the march upwards. I'm personally looking towards 12.86 to fill the gap, and subsequent price action will help me determine if that's a position I'll hold or quickly take profit on. Key range: 11.95 - 13.60 By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:ACB
by McGuireTO
4