CGC - looking for an entryCGC is looking strong in the longer term, but I'll be watching for a pulback to the trendline resistance hovering just above the 50-day EMA before making a move. We've dipped below both the 12 and 26. Stoch is picking up but RSI is neutral. Any move up would need to come with a significant increase in bullish volume to invalidate this set up. Breaking below trendline and 50 EMA resistance could spell a huge drop into the 30s before finding support again.
Canabis
Wait for a better priceGood day folks,
Aurora Cannabis has been on a wild ride. There is support at $6.00 and it is likely to be tested again. If this support doesn’t hold, it could go back to breakout price or $4.00. I prefer not to mention the large support at $2.00 as it would be a complete catastrophe for the stock imo, however I would load big time at this price.
Until the stock becomes a defensive one, I think its price will consolidate, making up and down, between $4.00 and $8.00. After all, we are heading into recession.
Merry Christmas to all!
ADYEN Long FTWThe Entry
The break of $600 a key resistance point as a nice whole number and as the Fibs 0.61 point
ADL has been gradually rising and RSI is nicely at a 53%
Will look to enter 1 hour after London opens today
The R/R so far looks like a 1:1.5 ratio
The Situation
With the close of Oct, money seems to be flowing back in the the markets
Midterms are over and it seems like the increased in democrats splitting congress will make radical policy changes less likely. Thus giving some certainly to investors
Adyen also recently announced that it has entered Canada and this aligns nicely with the rising Cannabis industry situated in Canada.
Issues/Risks
The risk that this rally is short term, if the price retreats to $553.9 breaking the Fib 0.786 point then we are certain. This is an estimated 9.2% Risk
To be safe I will be leveraging 5k Margin across the full trade and will enter at 50% first, once the price breaks the fib 0.382 point I’ll enter the remaining 50%
Weed Stock(Aurora)! Watch CloseAurora Stocks are going to drop within the next days in my opinion. the reason i think that is because I have been watching the charts and watching the news and this is what i found. I have found that no matter what anyone says about a weed stock, it doesn't matter the majority in weed stocks are the people who don't know how to get into stocks and they are super easy to predict. the way to predict a weed based stock is that if the stock goes up past around 10% jump off. I say this because having a bunch of amateurs on this kind of stock is that once they gain a-lot of money on it as it is going up they get scared and jump, by doing this the shock then become short and everyone jumps together. So the best place you can be is the ones that jump at about 25% of the majority of the stock has jumped before you because once the stock beings to drop people stop buying and once the buying stops the stock goes straight down but if you jump to early you may lose capital by jumping before sales have stopped selling. So my opinion and my long term analysis is that jump at about 25% when the buying stops and then jump at the peak.
- Jon Matthews
