ACB BUY (AURORA CANNABIS INC)Hi there. Price is forming a continuation pattern to the upsisde. Wait for the price to complete the pattern and watch strong price action for buy.
Cannabisstocks
MEDIPHARM LONG SETUPLooking at a potential low risk high reward play here.
Although i pointed out the previous bull run above, I don't expect anything close to that happening at all.
We are currently under a death cross and earnings are coming up, note it usually dumps at earnings after all-time-highs.
This is a company I am looking at long-term though so I will buy small at this level only because of the number of opportunities in the market right now, but will essentially look out for lower prices and possible bullish divergences in which case I would up my bet.
Any rally here I would anticipate a breakout and continuation possibly to that .618 fib level which seems to be respected a lot throughout this bear market, and just so happens that the 50MA is lining up with it as well.
Not investment advice, just my opinion on the market. Safe trading, cheers.
[APHA] Stabilizing at it's Bottom, Wait for Better Value?Looking for a good load up point here before earnings. Anything around $3 or under is solid value.
Don't expect it to ever set a new low but may approach low retest if next crash is severe enough.
Canopy Growth - Critical PointCritical Point for Canopy Growth.
Resting right on the 50EMA and bottom trend line of the ascending channel.
Failed to close above 200EMA and tested back down to bottom of the ascending channel.
Ascending channel traditionally leads to lower prices but that's after the breaking of the lower trend line.
Possible test of .618 fib level which also meets with the 200EMA.
Possible short-term upside play with stop loss can be practical.
A good bullish confirmation overall would be a daily candle close or two above the 200EMA, creating enough of a divergence between it and the 50EMA, also creating a new high in this micro trend.
CANNABIS SHARES - Catching up after under-performanceA quick comparison of major cannabis shares shows a switch from under to out-performance in vs. the S&P 500 and the TSX
$OGI can rise in the next daysContextual immersion trading strategy idea.
OrganiGram Holdings Inc., through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada.
The share price rose after the company announced that it has entered into a multi-year agreement for supply of dried flower to one of Israel’s largest and most established medical cannabis producers, Canndoc Ltd. ("Canndoc"), a subsidiary of InterCure Ltd. (TASE: INCR/INCR.TA).
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $2,04;
stop-loss — $1,92.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
Tilray swing long Daily chart, Tilray long.
Price is obeying the transagonal support line, meanwhile the EMA25 continues to sweep under price just above the standard support line.
Target your preferred entry reason on a lower timeframe, the 4 hour or 1 hour chart would be fine.
Success!
ACB Long Term SetupLooking to fill the lower GAP as well as retest lows. If it can maintain support at that level, might see a nice move to the top.
Is APHA about to break out of a Bullish Flag?On a micro trading level APHA appears to have formed a bullish flag pattern, but the top resistance of the bullish flag is the same resistance of a more macro Ascending Triangle. Interesting.
The breakout to the upside will be modestly significant in terms of shaping the macro trend, IMO.
[CGC] Indicators Were Correct... Fell Right Back to Down TrendNo trend updates, here, original idea holding up pretty good. Lets see how it plays out.
Bit surprised CGC couldn't bring anything to the game for earnings, they really are a fundamentally strong company, but here's what happened if you're curious.
The ACB earnings FOMO pop pushed the entire market from great value to poor value in one week.
Every buy above $17 seems to have been a small pre-earnings FOMO.
Can't feel too bad, it was a smart hedge just in case of a pop and the long term value here is still solid.
Whole segment still overvalued will continue slide not really worth updating any of my ideas at this point. Maybe looking to load up around $12.
Will come back around once we get mid-way through June when we get back into good value range.
Stay tuned and happy harvesting!
$TLRY can rise in the next daysContextual immersion trading strategy idea.
Tilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis.
The demand for shares of the company looks higher than the supply.
These and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $10,29;
stop-loss — $8,90.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
Bullish Weekly Chart - Earnings PlayBullish weekly chart...
On March 16, 2020, the stock hit a low of around $9.00 and spiked up to where it trades today.
As of today, the 5-Day MA crossed up and over the 20-Day MA - Bullish
Volume is Bullish
PMO is trending up, Bullish
MACD is trending up, Bullish
RSI is trending up and above the center line, Bullish
Stochastic is trending up, Bullish
Accumulation is trending up, Bullish
If earnings are good tomorrow, the stock should continue its upward run.
Please do your own research. This is not investment advice. I am simply looking at the weekly chart in which everyone has access to.
Thank you and best of luck with your trades!
DISCLAIMER
The Content herein is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
[CGC] 'Locally' Overpriced, 'Globally' Good Value + Earnings!Earnings is tomorrow and unfortunately the price didn't slide as much as I had hoped. It recently broke and held above it's current upward channel and overall the cannabis sector should continue it's long term slide trajectory into summer, very high sector gravity, which is why it's locally overpriced.
Also all indicators are leaning toward sell right now so kinda weird time to buy.
If CGC pops, expect others to follow to varying degrees and look for good sell opportunities sector wide. Likewise, if the news is particularly bad all around, the whole segment will drop but that seems unlikely tomorrow.
CGC is a top three cannabis company next to OGI and APHA and is much bigger than those two.
Local value isn't great right now but long term the price is still pretty good and upside potential on earnings tomorrow is huge if they beat any expectations at all.
They will release their earnings data before market open tomorrow so get in today if you're expecting a FOMO bump and then will have a call mid day, both events tomorrow could rock the price up or down but given the sunk costs in this stock and never ending cannabis FOMO, it is most likely to spike up.
Will probably try to sell off 40-60% of my stake tomorrow if it does spike and wait till mid-June to really load up the cannabis sector at better value.
As an aside, I do expect the overall market to begin it's crash tomorrow, leading into first week June bloodbath, so I mostly likely will flip back to hold by market close Friday and wait for the next buy opp.
Let's hope for a bountiful harvest tomorrow!
Inverse Head & Shoulders breakout?The RSI is displaying a bullish flag pattern that is currently breaking the downward sloping resistance, meanwhile, the Inverted H&S pattern is noticeability visible on the RSI as well.
TLRY has positive long-term perspectiveMajor investors prepared for "good news" that will publish soon.
$HEXO Could be ready to move up!We have been watching and trading MJ for a while and HEXO could be setup for a little CALL action.....
Is WEED trading in a Bullish Flag?Potentially a Ascending Triangle as well, but we haven't seen a retest of the blue upward sloping support, instead Canopy has created a series of higher lows forming an inverted head & shoulders, next week will confirm the trend.
An inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends
An inverse head and shoulders pattern, upon completion, signals a bull market
Investors typically enter into a long position when the price rises above the resistance of the neckline.
Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle, but is also often angled down away from the prevailing trend. Another variant is called a bullish pennant, in which the consolidation takes the form of a symmetrical triangle. The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole. It is important to note that these patterns work the same in reverse and are known as bear flags and pennants.
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming.
The trendlines of a triangle need to run along at least two swing highs and two swing lows.
Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. Although, this won't always occur. A breakout in any direction is noteworthy.
Time will tell I suppose.
[CGC] Breaking through Resistance... Be Patient and Buy Cheaper?CGC made some nice moves and unfortunately didn't stick to the downward trend I was hoping for.
Added in some new resistance lines here.
The timing here is crazy, trying to thread a damn needle through this craziness haha.
As much as I wanted to get in before it broke the $17.50 resistance, I held off because I expect the overall market to collapse down next week just in time for earnings.
It's gonna be close and I might end up having to load up at like $21 (not ideal but it's still gonna be a smart play but if we luck out here, it'll crash back to around $15-$17 at least next week and create a perfect buying opp right before earnings.
This is likely gonna pop above $28 resistance (assuming there is something decent coming out of earnings like with ACB).
Targeting a 50-100% ROI on 40-60% of my CGC holding this swing.
[ACB] Reliva News Blew Up My Plan, Gravity Still Heavy!Everything was right on track with ACB price marching steadily down as expected for a great buying opp pre-CGC earnings and then BOOM!
Stock popped up from $12 to $17, I sold off another 20% chunk (again catching the top of a 2nd peak on this swing here (just couldn't resist banking more 3x profits on this swing) because the high industry gravity and ensuing market crash was almost sure to push prices back down (it has so far but holding stronger now).
Already emptied 60% on the last spike about 3x ROI in two weeks so my ACB reserves are now on red with only 20% left. As much profit as I've banked here, I am worried that CGC earnings could turn around the whole industry and I'd rather not be caught with my pants down before these stocks really take off!
Gonna suck it up and hedge my cannabis bets buying them a bit overpriced if needed (but hoping they crash back some next week along with market). After CGC though we got a big window before the next earnings we need to worry about so hopefully after another nice swing, prices will continue their downward march and we can really load up big before Q2 (overall Q2 earnings will be bad but cannabis stocks should outperform here).
Good luck navigating these wild times!
Aurora Cannabis looking to get higher I am not a pot smoking degenerate , and I in no way support this filthy industry , but someone asked me my opinion this as as trade and I like a challenge so here we go. On the left is Aurora Cannabis. On the right is the Dry Bulk Shipping ETF, which is suppose to provide exposure to the proprietary Baltic Dry Goods index provided by the London-based Baltic Exchange. The BDI is a composite of the Capesize, Panamax and Supramax Timecharter Averages and is often seen as a leading indicator for the European and world economies. I tracked the BDRY ETF as a learning experience last year I don't even think I did any posts on it and I missed the trade because I was focused on losing money in crypto.
Fundamentally ACB has some legs to the upside. People are depressed and numbing the pain of their existence with this weed. Earnings are good and now we have a cross of the 20 and 50 SMAs circled in orange. The price action for BDRY seems very similar and if we use BRDY as a guide we are in at this cross and we will be out when the 20 and 50 SMA cross ag again, but this time bearishly. Set you tradingview alerts for the 50 to cross the 20 again on ACB and you have your exit. This is a super simple moving average strategy. BUT if we get a bearish cross too soon and you are munching on losses because the everything bubble popped on you then that's the way the cookie crumbled. Own your trades, gains and losses.
If you want to add just one more level of analysis you add the trendline established at the box in a box on BDRY at the end of the consolidation and when ATR hit a new low.
So if you wanted to trade ACB the moving average strategy would be to buy when the price action starts to get close to the 20d SMA. If you are worried about having your money tied up during the consolidation period and you want to just trade the break out you would be buying while the Average True Range starts to hit some new lows.
Ultimately I expect ACB to continue legging its way down, but there is a clear case for the upside. But first, consolidation.
Inverse Head & Shoulders breakout for ACB?ACB has been on a nice bullish uptrend since the 12 for 1 stock split, that was a great move on their behalf, however, it is interesting to see them buy a U.S asset & issue shares immediately after lol.
An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends
An inverse head and shoulders pattern, upon completion, signals a bull market
Investors typically enter into a long position when the price rises above the resistance of the neckline.
Inverse Head & Shoulders for CUSP.P?CUSP.P has been hiding under the radar since Bruce Linton & the CFO of Cronos joined last year, I wonder what cannabis-related ventures are awaiting announcement?
An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends
An inverse head and shoulders pattern, upon completion, signals a bull market
Investors typically enter into a long position when the price rises above the resistance of the neckline.
[ACB] Pump and Dump... It's Gonna Collapse AgainFOMO got the best of of the market again. Was a beautiful setup. I loaded up on ACB the 5 days leading up to earnings because it was beautifully positioned at insane value and because almost any shred of good news was almost sure to make this stock pop.
Bought @$6.22, sold ~20% @$10.62 yesterday and another ~20% @ $18.56 today.
Will sell another ~20% if it spikes higher again but it was almost surely being pumped a lot extra from the rally and I expect it to collapse back down, maybe bounce at ~$13 and then return to test lows before next earnings.
The impending market crash will make all cannabis stocks the buys of a century (especially OGI) for a brief couple days. 2021 will see explosive growth and massive gains for all of them.
