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Marijuanastocks

Is Hexo trading in another descending triangle / bear flag?I am dubious as to why Hexo doesn't have cannabis beverages on shelves in Quebec where "only" Hash & Cannabis Beverages are allowed as 2.0 products, or elsewhere in Canada when they have a Alcohol company like Molson backing them & involved in a JV via Truss? I just don't see why this pattern would play out bullishly when the company is diluting shareholders & raising money below the trading price? Does Hexo have a trick up their sleeve that will surprise the market besides overpaying for the Newstrike Brands buyout & growing unlicensed Cannabis, I think so, but it's not a surprise for the Hopium addicts, be prepared for more disappointment as Hexo slowly bleeds into the penny stock range where they started & belong! The 200 Day MA doesn't want to let Hexo break above it, very note worthy as the RSI looks like a H&S & Hexo has created nothing but lower lows since my previous chart linked to this one.
TSX:TLRYShort
by ScotianBot
2
Ascending Triangle, is Canopy trading in a hidden pattern?There's also merit for a another Inverse H&S to play out here, after a few more trading days next week we may see the shoulder continue to develop or a retest of the bottom upward sloping line of the Ascending Triangle, which would also negate the inverse H&S narrative, but the bottom of the ascending triangle could still hold & result in a bullish outcome, keep in mind these patterns have a tendency to finish roughly 70% to 80% way through the pattern in either direction frequently. Key Takeaways 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. 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. Key Takeaways 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.
TSX:WEED
by ScotianBot
Descending Triangle.This is the "exact" same chart from the other day but on a 6 month line chart; which only shows the daily "closing price" as opposed to the 1 year time frame candle chart I posted on Feb 6th which shows more trades. Notice where the rejection point came into play on Canopy's parabolic price move on Friday? The downward sloping trendline of the descending triangle seems to be in play, and the sell volume seems incredibly bearish. Every time Canopy's RSI gets this high we see a dump in the share price as well. The neckline area of the Inverse Head & Shoulders pattern which called the temporary bottom seems to be holding as support for the time being, interesting.
TSX:WEED
by ScotianBot
Bullish Pennant?Possibly a descending triangle? A pennant is a continuation pattern in technical analysis formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines - the pennant - followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. Pennants are continuation patterns where a period of consolidation is followed by a breakout. It's important to look at the volume in a pennant—the period of consolidation should have lower volume and the breakouts should occur on higher volume. Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation. Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.
TLong
by ScotianBot
Bullish Divergence| Higher Low| Declining Volume Hello Traders! Today’s chart update will be on OGI where bulls are promptly trying to change the bearish structure; key levels must break for a trend change to come to fruition. Points to consider, - Trend structure changing - Local support being held - Structural resistance to break - Stochastics in neutral territory - RSI diverging from price - Volume clearly declining OGI’s structure has slightly changed due to the bullish divergence playing out, new higher highs will confirm the overall trend change which has not happened as of yet. Local support in being held promptly, in confluence with the .50 Fibonacci level, OGI has strong technical support confluences. Structural resistance is a key level to break; OGI must close above as this will instil a highly probable new higher high in the trend. Stochastics is in neutral territory, momentum is stored in both directions at current given time. RSI is diverging from price with clear higher lows, signalling a local trend change. Volume has been declining which increases the probability of an influx at current support. Bear volume visually has been drying up; OGI needs bull volume for follow through from current support. Overall, in my opinion, local support must hold for OGI, a retest and close above structural resistance will confirmed the trend change with a new macro higher high. What are your thoughts? Please leave a like and comment, And remember, “Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.” ― Yvan Byeajee
NASDAQ:OGILong
by The_Alchemist_Trader_
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
ELong
by ScotianBot
GWPH is a clear buyWow, great trend, much support. Hey, I've said it before I'll say it again, I'm no technical analysis guru. I think most of it is hooplah. Have you ever heard of the guys on Wall Street who threw darts at random stocks on a wall and those picks ended up performing better than most professional hedge fund managers? Yeahhh, exactly. I personally don't believe in most of these unicorn indicators. Goku flying on a Ichimoku cloud over here, fucking RSI up your ass over there. I don't look at any of it. (bUt YoU hAVe tHe RsI uP rIGhT nOw) shhhhhhh it's for giggles. Now let me tell you what I do do (heh heh). I follow a rule I've established with myself before I go in and buy/sell a stock. I only commit to that action of exchanging the stock for cash or vice versa unless my conditions are met. Want to know what those conditions are? PSSHHHH. I'm not telling. Not that you care anyway. I'm not like, the best trader in the world. But I heavily believe part of trading is understanding the psychology of the market and beating the other guy - except for whale behavior but you can argue there's a psychological aspect to that as well (detecting that shit is hard tho) - so telling you my strategy is a joke and that's why I rarely believe in anyone who tells me there's. Anyyyyywho. What I will reveal is my bullishness on GW Pharmaceuticals. I'll even reveal what prices I bought in at - an average cost of $103.13 and I will be buying more good sir. I took a look at this companies balance sheet compared to last year and I swear I got half a chub. For one, GWPH's product Epidolex has competitor advantage being the only FDA approved cannabidiol product to treat two forms of epilepsy in children. Over 18,000 children suffer from LGS and Dravet Syndrome in America (the forms of epilepsy the prescription treats). As of now 7,600 patients have received Epidolex for treatment resulting in $31 million in sales for this product. Future sales can potentially double just for America alone. The company is gearing up in the EU market as well. Not to mention they are testing the same prescription in treating a disease that affects 1-2 million people worldwide. This baby is going to the moon given FDA approval for the treatment. But of course that's an "if". Considering the hard facts I like that the companies' assets are outpacing its liabilities and looking at last years' balance sheet compared to this years' this stock was either grossly over valued last year and slightly under valued this year or damn near bubble euphoria territory last year and fairly priced this year. There could be a third scenario that this stock price is still overvalued but man does this companies growth story look attractive. I'm buying!! P.S - I am a random dude who doesn't know shit about shit. I'm just reading books, reading balance sheets, watching YouTube videos trying to figure out how to value businesses. I got involved in the stock market 3 years ago and I'm just straight up passionate about it dawg. Think it was my real calling truth be told. I'm documenting for future purposes. Follow my trades if you want, just don't cry if you randomly read this and got convinced to buy something because of a stranger. I learned the hard way to never do that again. I only read other peoples recommendations of stocks to get an understanding of how other peeps are valuating companies. I don't even read that trade junk anymore, I've already got my set of rules. And I also only execute very few trades because as we know most traders do not beat the market. If you think you can I encourage you to try to get into an Ivy league cuz you're chances are roughly the same. Good luck out there folks. Holla atcha boy
GLong
by misckid
Is APHA trading in a micro descending triangle?It' possible that if this pattern plays out to the downside Aphria sticks in a Triple Bottom some where equal to the previous two bottoms where I have the green volume icon, ideally the third bottom should be higher than the previous two. Key Takeaways A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears). A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance. There should be an existing downtrend in place before the pattern occurs. The three lows should be roughly equal in price and spaced out from each other. While the price doesn't have to be exactly equal, it should be reasonably close to the same price, such that a trendline is horizontal. Only time will tell, but on a five year chart there's merit for a giant bull flag, see attached chart, or it's possibly a descending triangle. But you can also see a inverse H&S, a lot of familiar bullish patterns.
ALong
by ScotianBot
MedMan capitulation and retail shakeoutI do not provide financial advise. Despite serious declines in Canna Stocks in 2019 looks like $MMNFF successfully capitulated and retail investors are being shaked out by institutions. Here's why: - On macro, long-term parabolic wedge has resolved itself by hammered spring and followed up by SFP bullish candle. Please note this was second largest green candle in history of the stock. Smart money accumulating. - Volume is picking up. - RSI bottomed below 30 for a long time. Accumulation? - Stock still in down trend because Lower High at $0.75 hasn't been taken out yet, but looks like new price discovery is completed at this point. - For investors with high risk tolerance this is the best entry due to high asymmetrical setup. For conservatives entry above $0.75 - Targets are $1.80 / $2.75 / $3.80 - Stop below last swing low
MLong
by LEVERXYZ
Is TNY trading in a Ascending Triangle.Possibly a Symmetrical Triangle as well & coincidently upon breakout would negate the descending triangle pattern which started roughly Nov 19th 2019. Key Takeaways Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation. Ascending Triangle Key Takeaways 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. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point. TNY is also trading in what's called a Triple Bottom pattern with the first bottom starting roughly Oct 23rd 2019 where I have the red finger pointing right. Key Takeaways A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears). A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance. The formation of triple bottom is seen as an opportunity to enter a bullish position. The triple bottom is similar to the double bottom chart pattern and may also look like ascending or descending triangles. Traders always look for confirmation of a triple bottom using other technical indicators or chart patterns. For example, traders might note that the stock has an oversold relative strength index ( RSI ) before a double bottom forms and/or look for a breakout to confirm that it's a triple bottom rather than a descending triangle or other bearish pattern . The MA50&200 are the black lines, plus the 200 Day MA is black as well. TNY is trading between the MA50&200 at the moment. Roughly 48% away from the 200 Day MA, which is better than most cannabis related stocks.
TLong
by ScotianBot
Is TNYBF trading in a Ascending Triangle?We've had the highest volume on the U.S side this year recently, along with the highest short on TNYBF on Dec 24th with 100% of the trades short, keep in mind it's not uncommon to see over 50% of TNYBF short, TNY on the CSE usually trades much higher volume, which is the Canadian ticker symbol. Anyway, this recent move has put TNYBF over the MA50&200, and it also appears like we're trading in a Ascending Triangle. Key Takeaways 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. A long trade is taken if the price breaks above the top of the pattern. A short trade is taken if the price breaks below the lower trendline. A stop loss is typically placed just outside the pattern on the opposite side from the breakout. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
TLong
by ScotianBot