Broke daily resistance and closed above. Indicators show underlying strength, but Stoch indicates a possible retest of local resistance at around $78 (both daily and hourly charts). Currently closed at weekly resistance of $80.30. A break with volume above $80.30 could see IIPR look for a weekly lower high. If rejected, we'll be looking for a higher low.
3 new leaseback deals announced just before Christmas. Dividend coming up in just 4 days, expected to increase again. IIPR blew upward, riding the MJ bubble, and deflated when that bubble burst. The current valuation is quite high, comparing fundamentals to other REITs. It is currently attempting to break its 50 day line, and we should expect a test of the...
IIPR is one of my top 2020 picks as their dividend growth has been impeccable and their stock has really only plummeted from its highs because the cannabis sector essentially went through a major correction. I believe certain (not all) cannabis stocks will make a strong rebound in 2020, but the sector itself may be 2 or so years before attracting major buyers back...
Ticker: $IIPR Can IIPR gain any traction and break weekly resistance of $87.20 these upcoming weeks to confirm the inverse head and shoulders? Remember, Inverse head and shoulders is a pattern that signifies a trend change from bear to bulls. If bulls can break this weekly inside bar bullish, than the possibility is there. I need to see an increase in bull...
Hello Traders! Today’s chart update will be on IIPR – Innovative Industrial Properties INC where bulls are attempting to put in a new higher low, a trend change may be coming to fruition. Points to consider, - Potential new higher low - Structural resistance needs to break - Support in green zone - RSI respecting support - Stochastics projected upwards...
The San Diego-based company is a real estate investment trust (REIT) specializing in properties used for growing and processing cannabis in U.S. states where medical marijuana is legal. While Innovative Industrial's stock has been dragged down over the last few months by sector weakness, the fast-growing company continues to post great quarterly numbers. In the...
Kinda drafting this idea. Might expand on it. ________________________________________ MJ ETF at the bottom but still needs time to turn. LOST A TON in the last 5 days. LIKE 20%. VERY good price for this but A LOT of MJ stocks are at CRAZY discounts. TLRY CGC CRON NEPT! This has not fallen like them. ... Is money shifting from ETF back to individual names.......
trade worked out,took some prof at break of high, then got dumped on, didnt manage trade as well as I should have. Still holding a bit, this is another chart where I need clarity. Maybe top in, ext 5th, sideways WXY need to break some Ls or Hs MO
Triangles are tricky. Converging TL and dropping volume can make a pennant or whatever but EW triangles have rules... cant get a super clear count of the interior waves, so its iffy for me. IF it is a triangle, 1:1 the width of the larger part of triangle off the termination of the E wave is the usual trust out of the triangle....or an extended 5th wave! who knows..
CGC is beginning to develop some two sided trading and transitioning into a broad bull channel / bull flag trading range. (All channels are a form of a slanted trading range and ultimately evolve into a large trading range). Prices are currently around the middle of the trading range, where the directional probability is close to 50/50. The high 2 buy setup a...
its gone full ATH bulltard, extensions are tough to keep track of, dangerous entries IMO but risk could be rewarded. Youre either attempting a knife catch or risk getting dumped on... a reasonable person would wait for some LH and LL..
Peep this nice rising wedge pattern that price has respected for the last several weeks. I'm playing a 7% potential profit long to the top of the wedge. We're riding along a nice horizontal support around $84 and also hovering over a month-long trendline support on RSI. Solid setup with a great risk/reward ratio. Entry: 84 TP: 90 S/L: 82.75 R/R: 3.65
Dear Cannabis Sector friends! In our previous TLRY idea we had asked ourselves: Can TLRY repeat what EOS from crypto space did already? (See the link below) The answer is: Yes . And this is the beauty of Technical Analysis: No matter where you go, which market you wanna play, human psychology never changes. A beautiful descending triangle gets broken bearish,...
As you can see, market follows a pattern to the upside and it is now at the top of the channel where it should start headed down toward the bottom of the channel. This should bank a good amount of profit on the sell side if you follow closely over the next month or two. DISCLAIMER; Do set stop losses when trading but be generous with how much room you allow for...
Just looking at the short time this stock has been public, and just looking at how crazy scattered the 4hr candles are (not much better on any other small time frames, too few candles on larger ones) I know that I am "throwing lines on a chart" here in almost the typically derogatory way. But this is mostly a framework for me. I have been in this since almost...
Potential Symmetrical Triangle Continuation Cycle. Very similar to the pattern we had with WEED that broke bullish.
1-year long consolidation. Watch close this Friday.