Aurora Cannabis - Head and Shoulders it's about to go upA clear head and shoulders pattern has emerged in ACB. It is backed up by high volume. Prepare for a big breakout.
Cannabis
CGC Trendline FailCGC saw an open and close yesterday below the lower support line of a rising channel(orange lines). Using a measured move on a trendline break, price could potentially see a -25% decline which would roughly equal a -$5.50 loss taking price back down near $16. Keeping an eye on this one today as CGC tends to dictate prices for the entire cannabis sector.
XLY - Cannabis Stock Looking for ContinuationProposed Entry 0.61 - 0.65
First Target 0.71 (+15.7%)
Proposed Stop 0.60 (-6.6%)
2.4 : 1 Reward to Risk Ratio
Downtrend Cooled Off => See how long it stay sideways.Cannabis stocks plummets for almost a full year.
I think that the initial hype of the Cannabis industry is over.
Those who entered the market as retail investor looking to take advantage of the hype had left probably lost quite a few $$.
With plans for Toronto to open up more stores might not help.
The daily MACD does show signs that Cannabis is recovering crossing over the weekly MACD, but it will be a while before the weekly MACD catches up and willy most likely create a sideway market for the time being.
What are we looking at ?Looks like we have a confirmation + a rising volume.
About time to make some good money.
! ISH & Auxly Strong !
Quit crypto folks. Veryrichmanwithbeautifulhair bought some Cannabis ISH$
Another cannabis stock ready to fly high? NYSE:ACB looks very interesting since mid January bottom. Good odds that similiar pattern (inverted H&S) will be playing out, as it was the case before with NYSE:CGC , which is rallying nicely since its breakout in early December.
CGC Holding Trendline SupportCGC is seeing a nice bounce today after a successful test and hold at the uptrend line. Assuming that coronavirus doesn't spark fear in traders again this week CGC should see a test of $26, potentially even a break above. Short-term trend remains bullish.
CANOPY GROWTH TSE: WEED 1DAY Bottoming PatternPossible Bullish Reversal pattern. Potential for high % profits for Canopy Growth. (Canadian Cannabis Stock)
CGC Testing SupportCGC is back to testing an uptrend support line after a recent channel breakout that had looked promising until pandemic fears shook the market today. Currently watching this uptrend line to see whether or not it is able continue propping up price. A bounce here would be bullish for CGC, a break below the uptrend line would put price back to neutral, or no trend with risk of turning bearish again.
CGC Formed a BullflagComing off an 8 month bear market, cannabis appears to be making a comeback... The overall reversal adds to the likelihood that the current bullflag will push prices higher... A position started here could have a stop loss placed at $22.50 (this level would negate the flag). Short term target could be placed at the closest resistance, long term target could be much higher...
Thanks for checking out my idea! I encourage constructive criticisms!
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Just an idea ? SUGR Long Trading at a strong level of support with momentum in volume and the recent emergence through the 30 RSI level.
- Waiting on revenue - hopefully end of Q1 early Q2
- Phase 1 of their plan is fully funded
- Cash flow positive - sooner than they would have initially anticipated
- Contracts/partnerships
- Experienced Management & BoD
- Insider ownership at around these levels
Is Phivida Bullish Yet? Has it bottomed? US Ticker VS CanPhivida is a major CBD Canadian energy drink manufacture, who is clearly high in debt but has a great product, sales and decent market share. Fundamentally I have no idea if they can survive long term, but it does seem that they have come off all time lows and are now rising.
Interesting, is the fact that the US ticker PHVAF does tend to be more volatile than VIDA , its Canadian ticker, however its almost like you can watch VIDA to predict PHVAF.
Also, there is a GAP on PHVAF on the Daily! So can we see 8.8 cents again before lift off. This could be a complicated setup but if you watch VIDA and try to trade PHVAF perhaps this could be a good setup. I wouldn't expect the same pullback on VIDA as it doesn't show a daily gap.
Please remember that this is not trading advice!
48North - The Small Cap Cannabis Company To WatchI have maintained a long thesis on 48North Cannabis Corporation since October 2018, and the trade worked wonderfully into March of last year. However, 48North pulled back alongside the entire cannabis sector, and rightfully so on some of their own missteps.
As a brief introduction, I believe 48North's competitive advantage stems from their outdoor grow operation, creating a low cost of goods operating model that will enable 48North to price products competitively and reward investors with higher gross margin performance when compared against the peer group. It should be noted that 48North missed their production guidance for 2019- resulting from delayed licensing for drying rooms. In 2019 48North demonstrated that outdoor grown cannabis can be completed at scale, at a low cost, and successfully pass Health Canada's quality control standards.
From a chart perspective I'm considering the Elliott Wave ABC pattern to be completed with a clean retracement & double bottom at $0.315 - neatly correlating with the 161.8 fib extension of Wave A
Current Market Cap: $63M
Cash on Hand: $40M
It is my opinion that 48North's cash position reduces the need for any capital injection through 2020. Frankly- it is going to be in the hands of 48North to demonstrate in 2020 that they truly can achieve their projected outdoor harvest numbers with drying capacity not being a barrier in 2020.
CANOPY Growth Has Bottomed - Inverted Head & Shoulders!Classic Inverted Head & Shoulders pattern is usually not just a bullish indicator but a sign for a trend reversal from bearish to bullish, and we just so happen to be coming off a recent low.
Not only did we bottom but we bottomed right at the .786 Fibonacci retracement level which just also happens to be right at the major support line. Great to see it respected at a healthy retracement level. Anyone who bought here has a good probability to see good profits.
Strategy:
I'm anticipating AT LEAST a move to the yellow circle which is also where the 200 MA is curving down to. This would mean roughly a 20% gain from here alone.
Now a few things can happen there. We can get rejected off the 200 MA and head back down which in that case I would look to buy once again somewhere along the support. Timing is everything as Canopy has plummeted to the down side most of the times of Earnings, so I would also look to reposition myself at that time as well. Looking at the chart I see that can easily happen after we make our test to the 200 MA.
On the flip side since the trend is looking upward at the moment we can easily have our 50MA cross above the 200MA resulting in a golden cross which then I would look for much more gains ahead.
Let me know what you think, I will update over time. Safe trading :)
Aphria - Inverse Head & Shoulders to Watch on WeeklyI'm a big fan of weekly time frame analysis, the larger time frame offers in my opinion greater strength behind any pattern- bearish or bull. I'm watching for an inverse head and shoulders to form, with the near term 7.35 resistance converting into support and offering a leg up into 9.10
A break of the 9.10 neckline will offer further upside, however I do not anticipate this will break on the first attempt rather pullback into 7.35 area confirming it as support and finally painting the inverse head & shoulders pattern everyone will be watching. I'm just watching for the potential formation a few weeks in advance.
Disclosure, I do hold an existing long position in Aphria (APHA)
Is EXP trading in a Bear Flag?Or possibly a bull flag, but currently EXP is trading at all time lows & down -90% since late 2017 highs, so there's merit for a contrarian bottom fishing buy here.
I recently bought one of their premium flower brands "Citizen Stash Mac-1" & its THC content is 25.6%, which is the highest I've seen on the legal rec Canadian market & I've been in dispensaries all across the country legal & illegal for the past 5 years.
For comparison, Aphria's Broken Coast brand has been my favorite on the legal rec market in Canada & has won top awards at the Canadian Cannabis Awards, but the highest THC content I've seen is well under 20% with an average of roughly 16% for each of premium Indica strains like Gabriola, Quadra & Stryker. I've noticed the Stargazer Sonora has a 24.9% thc content on Aphria's website, but I don't like Sativa & I've yet to see it in dispensaries.
Anyway, if EXP can get the Mac-1 & other newer strains under the Citizen Stash Brand in dispensaries across Canada they will easily become the #1 premium flower on the market, and potentially become a buyout target from much larger LP's looking to find premium flower brands that are selling to add to their portfolio.
citizenstash.com
Cronos and pot stocks staging continuationThe recovery continues. For those worried they missed the boat, this is nothing more than a bear market rally. Nothing to inddicate fundamentally that weve reachedd the true bottom. This will rally back (impossible to tell how high) but short term profits are very likely.
Canopy Growth Corporation 1D LONGetfmg.com
volume has spiked up, I believe this is the end of the down trend
CANNABIS - STRONG BUY! YOLO ETFAll cannabis market got a bottom last year. It was a really tough year and now series of good news triggered new cycle of the rising.
MY RECOMMENDATION BUY AMEX:YOLO AND SELL NEAR THIS TARGET!
MJ volume not high enough...Cannabis stocks have been gaining from the start of this week.
Technical analysis
RSI has been trending upward, but OBV has not, creating a bearish divergence. /Bearish
We saw the same three candlesticks ending on November 21st, 2019, leading to a strong pullback. (Red circle drawn in chart). /Bearish
Fundamental analysis
Since May 2019, cannabis stocks have been shorted creating a downturn for the whole sector.
Many of the biggest companies are undervalued. But stocks can stay undervalued longer than we can accept our losses.
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Keeping on a close watchlist.
is 2020 going to be the year for marijuana stocks?Welcome fellow tradingviewers,
Cannabis stocks have been getting hit from all of the place since the big hype. We have seen a real though Bear market for the last year or so.
So is 2020 going to be the year for cannabis stocks ?
Let's find out:
I was writing this analyses when we just closed the weekly at 1.62 and decided to wait it out for a bit and I am glad i did to find my perfect entry.
Monthly:
On the monthly we can clearly see that we have just tapped the pre bullrun support zone and are currently bouncing up from it.
Weekly:
We are starting to see some form of pushthrough, will be exciting to see if this week is going to close as a bullish engulfing candle. If it does it will predict more upside momentum.
There is little to no resistance all the way to 4 dollars per share.
The support zone was located from 1.50 to 1.65 where we located our buy orders.
Daily:
We are starting to form a small inverse head and shoulders with the neckline around 2.25.
If we can breakout of this pattern then we should be ready to test the upper resistance zone on the daily located at 2.50-2.70
In summary:
A lot can happen this year, but we now that the cannabis stocks are currently in oversold territorium and might have just finished the capitulation fase.
If we manage to break the 2.50-2.70 area, we can have a relief rally to 4-6 dollars per share before thinking about higher grounds.
I hope you guys enjoyed this analyses, if you did don't forget to leave a Like !
If you want to share your thoughts, please do so in the comments below!
Kind regards,
Forallcrypto
Alternative Harvest ETF - Pass the profits to the left hand sideBuy ETFMG Alternative Harvest (MJ.US)
ETFMG Alternative Harvest ETF is an exchange-traded fund incorporated in the USA. The Fund seeks total return performance of the Prime Alternative Harvest Index, which tracks companies likely to benefit from the increasing global acceptance of various uses of the cannabis plant.
Market Cap: $764Million
Cannabis stocks have attracted fresh buying interest in recent days having traded in a terrible downtrend for many months. The ETF has broken out of an ending wedge formation and looks set to unwind some of the short interest that has accumulated over recent months. There are several levels to target on the upside with the ultimate price target being around 52% above yesterdays closing price.
Stop: 15.72
Target 1: 20.15
Target 2: 23.18
Target 3: 27.10
