THCX Cup and Handle?Potential set up for Cup and Handle on THCX, still have yet to do my fundamental analysis but based on technicals this could be a good summer play. (If you're into the FIB support lines then based off of the recent high, the top support line also matches right up with .236 line.)
Some quick thoughts:
1. With summer rolling around and more people heading outdoors I can see the demand for Cannabis rise in certain states like Colorado where people go to parks and consume.
2. Overall Cannabis has been heading down the last two months, without much "amazing" news/catalysts.
3. On daily chart the price shows bouncing off of the 200MA
4. Weekly and daily both show a support line being confirmed
5. Obvious cup and handle being formed/completed on weekly.
- I have some holdings currently, plan to add if it falls to support again, or around 16.63, which is another tested support line on the 1hr.
- I will add final amounts at around 18.60, which is the .236 FIB Retracement line based off of previous high at 30.
Not financial advice do what you want.
Cannabis
#SNDL - 4H chart showin RSI divergence & much moreThe H4 timeframe is suggesting interesting points which make still think that we are close to a rebound; as I recently shared, the 0.7$ area is extremely important has it is where three important trendlines are crossing (this is not visible frm this chart).
Summarizing my points:
1- RSI showing divergence with price action, and it is rebounding for the third time in oversold territory
2- Falling wedge broken on April 19th with volumes
3- Today closing H4 candle is a piercing line candle, which opened below the lower of the previous candle, and closed approximately at half of the body of the same previous handle.
Not visible from this chart, if yu have a look at the monthly candles, you'll see that the last three bearish candles have lower volumes, and this is a strong sign to me, that we are just few days/weeks away from recoverying an uptrend with higher volumes.
#SNDL - 4H chart showing a critical reaction pointH4 charts shows how three main trendlines meet at 0.7$ point, exactly where the price is bouncing now.
The purple line, the black line and the green line all meet at this point.
I would not be surprised to see a reaction tomorrow from these current levels, and a second/third and fourth week of May definitely bullish, in my personal opinion!
#SNDL - Falling Wedge in H1 broken with volume! #SNDL is in my opinion very close to reverse the downtrend. Possible rebounce area at 0.7$, if not happening before. The one hour chart is showing a falling wedge being broken - with volumes - on April 27th and the price is now retracing looking for a pullback.
Very interesting to see how this bullish wedge pattern is also supported by an RSI divergence: so, basically, the RSI shows higher lows, while the prices are showing lower lows. This is pretty indicative of the fact that sellers are loosing momentum. The target of the falling wedge stands at 1.35$, but I am pretty convinced that once we reach the 1.3$ again, we'll not be seeing the bottom under 1$ anymore.
SNDL Update! Just picking more. Neutral trend for sndl until nowSNDL is more closer to the floor now! Im buying more at 0.65$ , 0.6$.
Long trade on Elixinol Global (EXL)This trade truly is the epitome of risk:reward. If you look at Creso Pharma (CPH) in October-December of 2020, you will note EXL is mirroring similar price action. What this means, is that EXL is literally trading at all-time lows, and this takes into consideration the 2020 Covid Crash. I am currently in this trade with two (2) entries, one at $0.19 and another at $0.15. I will be holding this trade long term in anticipation of positive news regarding decriminalisation in the US, Canada, Europe, UK and subsequently Australia.
Good luck traders. Manage your risk.
$MSOS reversal patternLocal bottom for Cannabis Index ($MSOS)
Reasons for longs:
- Head and Shoulders pattern, obvious
- Rejection off of 0.5 Fib Level
- Chuvashov's fork in play
- Volume picking up
- Daily gap closed within a day
- Hedge against possible forming S&P correction
Invalidation: close below Year Open
SNDL has a huge potential for a big squeez > 25 $ perfect time to jump in Sndl stock. This stock is one of cheapest long term stock in cannabis market that is really undervalued right now. Maybe it will go a little bit more down but in compare the huge opportunity it worth to buy in these prices.
TCNNF LongTrade price: US37.45
TP: US52
SL: 34.39
R/B: 1 to 5
One of Wall Street's top MJ stocks where analysts sees 80% upside - Yahoo Finance (04/21/2021)
"Trulieve has a 50% share, roughly, of the Florida market and the market is actually accelerating,"
Greenlane Holdings - Buy the Dip - Cannabis Boom 2021 - USA MSO #marijuanamovement #epiceconomics #gnln #thegem #higherstandards #vapordot
VRNOF, Marijuana Money MakerVerano Holdings, 2H: Implied reversal with the class A bullish divergence at the pattern completion zone of a Bartley (butterfly+Gartley) harmonic which retraced to the 0.886 Fibonacci. Easy stop-loss at local low manages risk since this is a recent IPO. Great fundamentals such as dispensary openings in IL + the potential supportive legislation in NY state provide fundamental support. Not a bad idea to keep some position past target 2 for new ATHs.
Cresco Labs investment Idea Fundamental side of the idea:
For the full year of 2020, Cresco saw a whopping 271% year-over-year increase in revenue to $476 million. The company's retail revenue for the year grew to $202 million, up 316% year over year. Much of the credit goes to its Sunnyside retail platform, which, according to the management, generated average revenue per store of $3.6 million. Cresco has 10 Sunnyside stores in the new emerging cannabis market of Illinois. ) Its fourth-quarter (ended Dec. 31, 2020) revenue also jumped a massive 292% year over year to $162.3 million.
Another quarter of positive adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) net of biological assets of $50 million is an impressive jump from $2.8 million in the year-ago quarter. It also reflects how well the company has been handling its operating expenses. Cresco's 2020 was a reflection of what's to come in the next few years, according to the management.
Technical side of the idea:
Since the price has hit an all time high(22CAD), it has been decreasing / and retraced to 0,61 Fibu level. As long as the price is Rebounding exactly on 0,61 Multiple times we should consider that there is a big Possibility for the Price to Move higher. I am expecting that the price will continue to increase to 80USD in the next two years, after breaking the 1,61 Fibu level ( which is going to be the new resistance ).
If you have Questions, you can Always Contact me !
Best Regards.
S.Sadki
CLC -- Exclusive developer/distributor for TAAT & Beyond TobaccoTAAT is being heavily promoted but few know that CLC is the exclusive developer and distributor for TAAT & Beyond Tobacco products in Canada. It is also a well established cannabis grow/extraction business in one of the best farming regions of BC, Canada.
Very bullish chart. Bullish MACD cross is a technical buy signal. Bullish Engulfing candle is signalling continuation. Lots of room to run before hitting overbought levels.
Huge Opportunity (IMO)www.medmen.com
Once Cannabis is legalized in the U.S., this stock is set to appreciate greatly.
Not financial Advice
Cannabis stocks are cheap!!No one is talking about them yet.
They're all mostly at their cycle bottoms.
Cannabis is THE place to park profits from crypto and everything else once that's done pumping.
Buy and hold for a few years while crypto all crashes to the ground.
This one is Canadian but should get a sweet boost up.
There are many cannabis penny stock opportunities if you have a broker that will let you buy them. I use Schwabb for those.
MMNFF is an American company I recommend looking into.
Their a cannabis delivery company already operating in multiple states.
I bought at $0.13 then it went over $1 and has retraced back to $0.38.
MRMD and TRTC are also great ones!
TRTC sells vegetables and then can convert the facilities into cannabis growing facilities once it becomes legalized!
THCX Banking Bill Passes HouseAt 8 pm EST, the House announced that it passed the bill that would allow the cannabis industry to get banking accounts and start being treated like standard businesses with banks. This would likely include loans and investment opportunities that crippled this industry. Next is the Senate, which are pro-business so this will be interesting to watch. I foresee this stock breaking out of its near term bull pennant and going into an uptrend to around $20 per share. This should be around 10-15% returns. Easy run up for day traders.
Happy Investing!
WEED - Quick HighMJ stocks has been hit hard and it's killing the high of cannabis investors.
However it is due for a pullback on the upside.
We have a falling wedge and the price has dropped down to a major support.
OrganiGram – Happy 420! 🍁🍁🍁We hope that you all enjoy this day with some big buys of this stock. We are currently at the bottom end of the trading zone and expect the price to hit prices of CAD 11.45 – CAD 11.93, in the course of the wave in red. A crash is only gets a probability of 33% from us.
Puff, puff, pass!
OGI Canadian Cannabis Gem Hop on the train quick today is offering some nice discounts on this undervalued stock. We will see $6-$8 in the next coming weeks/ months. Recently invested in by a tobacco company for about $173 million will allow them to expand their reach and will be getting into the CBD scene. Go luck y’all lmk what you guys think!
🌿 Tilray - TLRY: Another Good Move UpHi mates is perfect setup for mean reversion trade in NASDAQ:TLRY
here is data for my trade:
------------------------Trade setup ---------------------------
Entry: 18.13
Stop Loss: 14.87
Profit target: 28.18
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If you like the idea, do not forget to support with a 👍 like and follow.
Leave a comment that is helpful or encouraging. Let's master the markets together.
GRWG - Cultivating Cultivating! *Gold Star*Although widely considered a Cannabis play, IMO the hobby indoor garden space has big potential.
From a source of food to a source of Zen...
Plants, regardless of their level of cannabinoids, can be very beneficial.
Almost akin to pets.
Fostering health and physical well being.
Even providing for psychological needs, like being a provider, accomplishment, even perhaps companionship.
Talking to plants is good for people. Its good for the plants too!
If they talk back however... Dang! That's some good weed! :D
Between the above, and the legions of cannabis supporters,
plus the company's seemingly strong financials and validated corporate structure
I believe GRWG could remain strong regardless of the USA legislative red tape...
Obviously cannabis legalization legislation would be the best thing for the stock,
One would think that at this point the outcome is assured, but, time will tell...
The Star pattern is largely artistic, but the lines did come together through classic TA.
I will add some comments with other time frames that I feel paint the bigger picture better.
APHA Your MoveAphria has had a great run into 2021, but it seems to have switched momentum in the opposite direction since February. I'm sure the bad earnings didn't help it's case either. Worst case scenario, it falls to the next level of support around where the 200 EMA is currently. Best case scenario, it bounces off current support and makes a run back into its upward channel. I believe it has found a bottom at this support and the 100 day EMA and will bounce to fill the gap created today before it trades sideways. Only Time Will Tell.
