HIP - Long or Dumpster Town?The dashed orange line is literally the line in the sand dividing a bounce and dumpster town. Hip doesn't have much presence on the weed stock scene other than it's basically The Tragically Hip's company. That association alone plus any positive news could help this regain some ground.
- Not financial advice.
Cannabis
SGDH high and tight bull flagSGDH dropped some big news this week. Now forming a beautiful high and tight bull flag after bouncing off of long term trend line.
In the Red Organic Dutchman This cannabis (aiming at beverages) company is nothing but promises and hype. They don't even post an address on their website. Almost all assets are just in cold hard cash. Big top directors/execs from beverage companies but inexperienced and very few growers, technicians. Edibles, vapes and extracts are not promised to be sold until later on (if it all). Cute renderings, mentions of organic-super-premium-sustainability 130000kg of cannabis ... sure. Epican also kind of seems like embezzlement, typical start-up wordpress style website, facility in the middle of the city?
just my 2 cents
Australian Cannabis Penny Stock: MCLAustralian Cannabis Penny Stock:
market looks a little over extended leaning towards overbought. Massive accumulation phase before huge pump cycles. Market is over 200 sma bullish, Retest of 618 fib expected, if successful bounce from 618 support and break threw ichimoku cloud, then enter a long position, marker will be confirmed bullish.
For best entry wait until we retest yellow support trend line.
Good news could easily see us propelled to 0.26+ continuing bullish trend
CannabisCoin READY, SET, GO!!So SIMPLE! Price is ready to take off! Positive news and positive price action!
Good luck!
BLEVF may rise after pot legalization vote in CanadaThere was a vote scheduled earlier this year for legalization which was later rescheduled. Rumor has it that there were not enough votes to pass initially, which may have contributed to some kind of reschedule. This measure is estimated to potentially create a 4 billion annual industry in Canada, and the sentiment is that it will pass over the next few hours.
BELVF fell hard after the prior vote was rescheduled, resulting in a nice boost in volume and a recovery in May after bouncing off of it's mid/long term ascending trend line (in light blue on the chart). We have since seen a consolidation over past weeks in what I think is an anticipation of a positive outcome on the ballot. I expect a rise as per the charts with some stops/consolidations/tests of resistances and fib levels on the way up.
$WEED breakout or fakeout? This is a classic Bull Flag breakout, although not on high volume. While I hold a position in this major Cannabis stock, I'm actually looking for more bang from stocks like $BUDD, $EAT, etc. Looking for a fall to the trendline and bounce to confirm this is real. Don't chase here!
Delta 9 Cannabis: Short TargetDelta 9 Cannabis recently suffered a steep negative correlation. However, this was given market resistance. Now the potential of a small breakout or positive spread seems likely to happen. They are a small cap producer, but market demand for their product in the medical cannabis world seems to be growing. A price around CA$1.50 seems reasonable within the next few weeks or as a short target. Now in terms of risk, it is still a small company with little media attention. They are also a minimal producer. Even listed on the exchanges, it is one of the smaller suppliers. The risk is obviously high, but it is still investable for a portfolio.
A little hip on the dip Legalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares. Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of shares doubled in value. It went from $0.68 to 1. 30 in 2 weeks of time. This is more like short term holding situation and it can continue to drop a little bit more. A few big buyers at the mark of $0.70 but a lot more big sellers around the range of $0.71-0.73. HIP.
A little hip as it dipsLegalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares to raise more money . Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of shares doubled in value. It went from $0.68 to 1. 30 in 2 weeks of time. This is more like short term holding situation and it can continue to drop a little bit more. A few big buyers at the mark of $0.70 but a lot more big sellers around the range of $0.71-0.73. HIP.VN
The bull is back Descending triangle pattern formed and broke out. As you can see the chart you can see that the volume add confirmation to the breakout as well the gap up from 18th to 22nd of May. A lot of people are looking for entry since the third and final vote on the bill to pass will be held on June 7th,2018. According to Peter Harder the senate never rejected a bill on the second reading. If the bill passes ACB will reach a possible new high by legalization.
Constellation Brands - $STZ - Dip on hot growing stock! I'll be looking for confirmation of continuation of $STZ 's bullish growth before buying in, but this one's on my radar.
Ex-dividend date of 5/10 likely didn't help push it much higher in the past few days.
There is a catalyst in the works though -- not only are earnings to be reported on 6/30/18 but they are invested in Canopy Growth (Canadian cannabis grower) whose stock is to be listed on the NYSE in the near future. From what I found they have a 10% stake in Canopy Growth. Either way, I look forward to the run-up towards earnings. I'm going to wait to exit some other positions then go ahead and pick some calls, likely for 6/29 or so.
Time for action on Aurora!The Bollinger bands are very tight on ACB right now and we have been building a slope for some time now. ACB already tried to break out once but faced high selling volume. I really do believe this will be an easy trade though. I marked out the following Fib levels as targets. Depending on speed, I think we can see 11 USD again soon. The red line is for refill. Below that is absolute stop.
CRON getting ready to bounce off lower points of resistnace and Cron might be about to 'get high' it looks like it is losing downward momentum on the MacD indicator, the RSI line is nearing the bottom and it is also getting closer to the bottom bollinger ban. It might still have a few days to go in order to hit bottom but price looks like it is already starting to level off from the down swing. Might be a good entry point. They recently reported Q1 earnings which didn't seem to blow investors minds very much, they were probably hoping to see a profit (turns our investors like profit) but there was massive growth in sales, just large growth in capex as well that ate away profit. So I'm not really seeing long term concerns that others may have, in fact the company is expanding operations. Unfortunately it just costs money to do that. The high PE ratio is a little icky, but they have pretty good liquidity. Over a hundred mill in assets. Debt to equity looks pretty good.
KSHB is doing too well. Makes picky entry difficultGrab any under $5's. Any under $5.10's is okay too.
