GrowGeneration NASDAQ:GRWG is approaching one of my favorite technical analysis setups as it gets closer to my selected historical simple moving average (SMA: the white and teal lines). Often, but not always (i.e. public offering news...), the price will jump to the selected historical SMA after a long period of consolidation - which has been occurring for some...
WM Technology NASDAQ:MAPS provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. After it's de-SPAC in 2020, it soared to $29.50 and now can be found for around $1.00. It's been consolidating at these lows for almost two years, and it may be gaining algorithmic traction for a move...
Philip Morris has gained new motivation, stretching visibly higher in its chart. Still, the price has more upward distance to cover before reaching our turquoise Target Zone between $119.47 and $123.80. Once the top of the turquoise wave B has been established there, the stock should sell off below the support at $82.95 and, afterward, into our green Target Zone...
OGI got an upgrade from hold to buy and with it a target of 5.25 or more than double current valuation. The ballot iniative in Florida and legalization in Gremany are recent news. VP Harris seeks to make legalization an lection issue this fall while pushing for a DEA reboot on the whole cleassification of MJ. Prospects for growth seem more clear for OGI . I...
OGI has completed another trend up from the federal news about a push for legalization of marijuana as a handout from incumbents seeking another term. My recent idea on OGI as to demonstrate its suitability for high return short duration swing trades to add compounding into the profit and returns. The increased volatility due to the federal news only adds...
Aurora Cannabis on a 15 minute chart is sitting on the dynamic support of the second lower VWAP band in deep undervalued territory also below the high volume area of the immediate volume profile anchored back to April 11th. The Trend indicator shows bearish momentum has bottomed. The dual time fram RSI indicator shows RS values in the low 40s. ACB did have...
ACB is moving of late due to the legalization of marijuana in Germany as well as the election referendum in Florida in November. It is the best capitalized of the peer penny stocks in this sector. Today from the low at the opening bell to the high before the NY lunch hour, ACB moved about 30%. There was both a long and short trade here. The options moved...
MAPS on 240 minute chart is now in a significant breakout with spiking volume and dramatically increased relative strength. The breakout was caused by the news that the Biden administration and specifically VP Harris will now push to legalize marijuana and take it off the DEA's controlled substance schedule which if legislated and enacted will buttress the...
IIPR is poised to dip into our blue Target Zone between $85.28 and $76.66 to settle the low of the blue wave (ii) and, thus, lay the foundation for the impulsive rise of the blue wave (iii). However, with a moderate probability of 25%, the price might also decide to head further south and breach the support at $69.08, pushing the turquoise wave alt.5 toward a new low.
Marijuana Stocks have started to make a turn around. Late Q3 and Q4 Of 23, I noticed weed stocks seemed to be bottoming. Grabbed these @ .65 Now looking at the market structure with the macd crossing 0 level and good buy side momentum I will be adding more to my portfolio. I have a $ 2.00 target for short term.
TLRY dropped from a Head & Shoulders in the winter into the lows in June and July with a lot of trading and accumulation as shown by the volume profile and its POC. Today TLRY took off for a big gainer of a day. But why and can it continue, The 5-minute chart shows plenty of volume support for today's move. The 4H chart shows a scorching rise into the...
I've been waiting for $MSOS to bottom because the upside looks amazing once it does. But I think we'll see another leg down before we see the final capitulation. The reason being the cloud on the 1D timeframe. With that thick of a cloud, almost no chance that price will break through it, and it leads me to think that the next move is likely lower. Looking at the...
Tilray has been developing some vibrant saplings, but the share shouldn’t forget to take root. We expect the course to extend below the support at $2.43 to plant wave II in gray. Then, Tilray should sprout upwards again, climbing back above $2.43 and growing further above the resistance at $5.12 as well. There, the course should complete wave (1) in magenta,...
Position reached bottom levels and it is a catch to get it in this dirt cheap levels and leave it long. Enjoy the Ride.
More downside till mid $5 range before the start of a new uptrend. Double bottom possible post squeeze or straight rip up!
Recently my eye has been on pot stocks and the broad ETF AMEX:MJ for signs of life. Most seem to have forgotten about these stocks after years of disappointment. That's when I get interested. On a down day in the stock market at large Tilray NASDAQ:TLRY is UP on earnings. More importantly from a technical analysis standpoint the price had a beautiful hold...
Few have been watching or trading pot stocks since the 2020 rally based on USA Democrats taking government. That rally did not have legs and broadly the industry has fallen even further from the heyday of speculation in 2018. Naturally, when few are looking I get interested... The recent March rally on AMEX:MJ which is the ETF of the sector made a new high...
Chart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 6.25 USD