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Canadianmj

ACB bulls draw a line in the sandACB 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 Coca Cola give correlation favour to the bulls, and I would expect ACB to hold up better than other names should we see sector-wide consolidation this coming week.
TSX:ACB
by McGuireTO
2
Looking at previous WEED.TO all time highs for clues into next wThe 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 week of trading before the equilibrium finally broke - down. In each of the previous two examples the price set a lower low compared to the low of the oversold bounce. It's very possible this happens again, but with legalization being such a huge catalyst, it's also quite likely that support holds and we enter into a larger daily equilibrium prior to continuation of the current bull move. The most important support to me heading into next week is 52.81. The best case scenario for the bulls is to hold 59.70 to show they're in absolute control over the coming days. There are several fundamental things I'm watching here. CNBC is covering the MJ sector numerous times each day, and I've noticed a shift in their coverage from "stocks rocketing higher", to "we're in a bubble." This shifted with the implosion of TLRY on Wednesday and the 50% drop in share price within an hour (now down a full 65% from the highs). CNBC has an agenda here, and that's currently a risk to bullish positions in the sector. Second is the amount of short interest in these stocks right now. each of WEED.TO, ACB.TO, and APH.TO are among the most shorted stocks on the TSX, and each have had an incredible increase in short positions opened over the course of September (regrettably I do not know if this information exists for CGC - if someone has this info please hit me up in the comment section below!) Finally, there is the potential of other major catalysts such as global companies entering into the sector in the form of investments, partnerships, and other agreements or LOIs. These events have the potential of squeezing short positions to cover, now so they can enter again later.
TSX:WEED
by McGuireTO
2
Looking at previous CGC all time highs for clues into next weekThe 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 of trading before the equilibrium finally broke - down. In each of the previous two examples the price set a lower low compared to the low of the oversold bounce. It's very possible this happens again, but with legalization being such a huge catalyst, it's also quite likely that support holds and we enter into a larger daily equilibrium prior to continuation of the current bull move. The most important support to me heading into next week is 40.68. The best case scenario for the bulls is to hold 46.20 to show they're in absolute control over the coming days. There are several fundamental things I'm watching here. CNBC is covering the MJ sector numerous times each day, and I've noticed a shift in their coverage from "stocks rocketing higher", to "we're in a bubble." This shifted with the implosion of TLRY on Wednesday and the 50% drop in share price within an hour (now down a full 65% from the highs). CNBC has an agenda here, and that's currently a risk to bullish positions in the sector. Second is the amount of short interest in these stocks right now. each of WEED, ACB, and APH are among the most shorted stocks on the TSX, and each have had an incredible increase in short positions opened over the course of September (regrettably I do not know if this information exists for CGC - if someone has this info please hit me up in the comment section below!) Finally, there is the potential of other major catalysts such as global companies entering into the sector in the form of investments, partnerships, and other agreements or LOIs. These events have the potential of squeezing short positions to cover, now so they can enter again later. @DonnaSko, on a previous idea you asked about my thoughts on a long position in CGC. I don't like a long position right now; If this tightening pattern does break upwards and we see new highs, I fully expect a selloff on or within a few days (before/after) of October 17th, 2018 legalization date, followed by a long drawn out period of consolidation. If for whatever reason we do not see new highs, and break down setting new lows from here, I will have to reassess the situation from that stand point. From here I only really like two entries for longs. The first would be to bottomfish against 40.68 support with a stop-loss below that price to protect your capital should should the sector break down from here for whatever reason. The second would be to enter on the break of 52.60, which would be a bull-break of the current 4hr equilibrium we're currently suspended in. With an entry there I'd place my stop-loss below the most recent low, which is currently 46.20. Either way, I would absolutely take profit on or just before October 17th as I fully expect that catalyst to be a sell the news event, should we continue the bull run up until that date. Then I'd wait patiently to buy back in much cheaper for a long term investment position.
C
by McGuireTO
6
APH - letting the dust settleWatching 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 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 tightening pattern will set momentum for the days to follow. Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday. I find the most clarity on the daily chart.
A
by McGuireTO
ACB - letting the dust settleWatching 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 low, to the high of today. It will be interesting to see if that new support 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 tightening pattern will set momentum for the days to follow. Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday. I find the most clarity on the daily and 4hr charts.
TSX:ACB
by McGuireTO
5
CGC - letting the dust settleWatching 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 tightening pattern will set momentum for the days to follow. Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday. I find the most clarity on the daily and 4hr charts. The 4hr chart with extended hours could be considered a bear flag here, but those long lower wicks of bulls buying the dip are a point in opposition to that possibility.
C
by McGuireTO
4
WEED - letting the dust settleWatching 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 of that tightening pattern will set momentum for the days to follow. I find the most clarity here on the 4hr and daily charts. The bear volume today was significant We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
TSX:WEED
by McGuireTO
WEED back within an old narrowing ascending channelWEED.TO finds itself back within an ascending channel, for the first time since losing it June 26th. Indicators on larger time frames are getting very extended as the price level tests the upper limit of the channel, and while the price is at all time highs and running on both hype and news, I do believe at least temporary consolidation is in the very near term future. That said, I expect this reentry to be rejected and for a new support level to be found.
TSX:WEEDShort
by McGuireTO
VFF Healthy consolidation. No matter how fundamentally strong VFF Is and how solid their execution is , the overall volatility and psychology of the cannabis markets will effect share price. Personally I believe VFF to be very well positioned, in a strong position financially and their operational plans are on track for 2018 and 2019. Short term VFF is in for a tough battle up, overall bulls seem to be exhausted and the bears have been exerting some serious selling pressure both on VFF as an individual stock and the Canadian cannabis market as a whole. From a technical analysis standpoint VFF has immense potential to retrace back to previous highs and maintain them, this would require the bulls to pick up steam. I'm looking for industry wide catalysts and also VFF specific catalysts to move this stock. My time frame for the retracement back to $8.50+ is 2 months
VLong
by navpowarr
$EHVVF Continues to Move in Anticipation of Canadian MJ+ Updates"We have executed and expanded the commitments we have made to our mental health (Multi Health Systems) and therapeutic partners (MedReleaf TSX: LEAF), entered new partnerships to expand our market verticals to include the pharmaceutical industry (Aequus TSX-V: AQS). Meanwhile, we have been preparing for our next set of trials of our new video games for assessment & remediation of ADD/ADHD developed in collaboration with The Hospital for Sick Children in Toronto." "Pharmaceutical Trials In July 2017, we signed a Letter of Intent with Aequus Pharmaceuticals for Ehave solutions to be used for the assessment, diagnostic, therapeutic and outcome management for use in informal and formal clinical trials. The intent is for the Ehave Platform and patient reported outcomes application to be used by clinicians and patients of Aequus trials, with content to be customized based on the specific needs of the trial protocols for both traditional and Cannabis CBD-based treatments. This is a significant milestone for Ehave – opening up a new market vertical to demonstrate the value of the Ehave informatics platform in clinical trails. We believe that we can bring the cost of trials down substantially and be the first Digital CRO in the market." "We have a management team that has built, grown and operated high value organizations before, including my experience in building a $10M cancer informatics solution for Princess Margaret Cancer Center, being an executive at Mount Sinai Hospital in Toronto that had a $330M operating budget, the $40M exit of Casero to Radial Point where I was a founding employee, and being an early employee of Solect Technology Group which sold to Amdocs for $1.2B. In addition, we have a world class Board of Directors with health technology, pharmaceutical and insurance expertise." 13g Filed A/H's Nov, 9th 2017 Name of Person Filing EISENBERG FAMILY FOUNDATION, INC. Income of over $100 Million. www.taxexemptworld.com ih.advfn.com
OTC:EHVVFLong
by StockGuild