TLRY - Catching the Ray to 7Correction looks finished to me. Strong daily bull divergence and double bottom. Stop at 2.40
Mj
MJ's may be taking out the rally bong soonAll in the video, nothing to buy yet, but there are some signs of strength this week even with the market tanking. Tickers covered - MJ, CGC, TLRY, CRON, MSOS
Marijuana Market Outlook - Pot ($MJ) Forecast More downside till mid $5 range before the start of a new uptrend.
Double bottom possible post squeeze or straight rip up!
MSOS Bullish Divergence$MSOS bullish divergence on the daily. Need immediate follow-through on this bounce for more conviction.
Tilray Earnings SetupRecently 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 prior to earnings of the 50% Retracement level of the March rally. This is the same March rally in pot stocks I have noticed above the board. While this opportunity may have passed with earnings it gives a glimpse into possible downtrend reversal.
I will be watching this post-earnings price action for a setup.
Pot stocks as a theme are now on my radar and they should be on yours as well.
Watching Pot StocksFew 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 which breaks the downtrend. Now with the recent broad stock market selloff price is testing the 50% Retracement of the recent rally.
I am watching for setups in MJ as well as individual pot stocks. See link below for NASDAQ:TLRY
In for a bottomThis stock is rekt hard. But it's one of the only mj companies that actually make a profit. And also the business is like selling shovels in a goldrush. If i didn't had a position already would totally buy this here.
HEXO Multibagger incoming (30-50X)HEXO has made the first signs of a reversal.
The reversal can be violent. If you hold for a couple of years you might see incredible returns imo.
Now is the golden pocket of smart money buy zone (Under a dollar).
Not a financial advice.
CRON looks CLEAN on the dailyReally like this cron count, it helps me check off another in the list of bull on the cannabis side. I think we have a good year in MJ coming.
eurusd longHey everyone I want to share may indicator signal and analysis {MJteam long signal indicator}
EURUSD
EURUSD reach 4H level and creat a 4H pivot
in this indicator if price in 1 or 2 candle engulfing blue line we can open short position upper blue line and stop loss is red line
signal line :blue line
stop line :red line
target line : green line
Opening: MJ July 15th 8 Short Put... for a .45 credit.
Comments: Attempting a little bit of cost basis repair here, probably later than I should have. Since it's a small position, I felt okay rolling the short call out in time to a quite lengthy duration to get paid something "decent," but the underlying hasn't seen fit to move upward with any conviction. The resulting setup is a July 15th 8/16 covered strangle (short strangle + stock).
Cost basis in my shares is now 13.64 relative to today's closing price of 11.21, so I've still got a little work to do to bring it more in line with where MJ's currently trading. Since it's a small position, I'm fine with being patient with it, but would be happier if my cost basis was lower than current price.
gbpnzd shortHey everyone I want to share may indicator signal and analysis {MJteam short signal indicator}
GBPNZD
GBPNZD reach weekly level and creat a daily pivot
in this indicator if price in 1 or 2 candle engulfing blue line we can open short position upper blue line and stop loss is red line
signal line :blue line
stop line :red line
target line : green line
usdcad longHey everyone I want to share may indicator signal and analysis {MJteam short signal indicator}
USDCAD
USDCAD reach DAILY level and creat a daily pivot
in this indicator if price in 1 or 2 candle engulfing blue line we can open short position upper blue line and stop loss is red line
signal line :blue line
stop line :red line
target line : green line
Are pot stocks actually making money?One of the "themes" I have been watching for 2022 is the possible resurgence of pot stocks. Every year has its theme and "anything can happen."
Over the weekend I watched a short Vice documentary following the current state of legal (and illegal) weed in California. You can watch here:
www.youtube.com
We can chalk this up to "unintended consequences" where the new decriminalized regime lowers penalties for growing black market marijuana while the oppressive tax structure is prohibitive to legal marijuana business. I cannot say if this is a "because California" problem or if this the model that will play out state-by-state. Pot stocks, led by Tilray NASDAQ:TLRY , had a rally in 2021 following the election of Biden and Democratic Congress in the USA. Investors assumed this was bullish for the regulated weed industry but examples of what is playing out in California right now show the potential extraneous factors to running a legal marijuana business in the United States. The wheels of politics turn slowly and it could be a very long time before politicians and business owners get it right.
If we look at the largest company by revenue in the United States, Green Thumb Industries OTC:GTBIF , for the last 5 earnings they have made money but the Weekly chart is dangerously close to a full bearish trend. I'll continue watching these stocks and this sector but I'm not a buyer yet.
btcusdtHey everyone I want to share may BITCOIN analysis
if price reach daily level{44800$} and reach blue trend line and creat a 15min-1h pivot in this level we can open short trade in this chart
MJ ETFMG Alt Harvest ETF primed for support bounce!I am finally back from vacation so I can start to post more TA again! I wanted to do some TA on a solid pot ETF I found a few weeks ago that appears to be loading up for a support bounce. MJ ETFMG Alt Harvest is a ETF made up of a bunch of high quality pot stocks. If you go to yahoo finance you can see everything in the holdings basket.
From a TA standpoint MJ has everything going for it to be on a uptrend reversal. Price has fallen for roughly a year now and if we look at previous lows $9 was the ATL. Current price is around $11 and its ATH got up to $45 in Sept 2018. Now while we may not see an ATH in the near future, but i certainly see price growth potential at least doubling from here within a year.
If we look at the MacD on the 10h we are primed for a climb. The total visible range shows us most investors understand an average price of $14. Now while we arent oversold completely on the RSI we dont necessarily need that in order to understand this might be a basic support bounce. With the economy raging into hyper inflation we could see a domino effect of harm to the economy that would increase MJs price naturally; depressed times shows a major increase in substance use. I will personally be going in on this and several other ETFs soon, I wanted to share this one with you guys because of the potential I see in it. I hope you all had a great holiday everyone! Let's make this coming year a profitable one! -DiMarco
Rolling: MJ April 14th 16 Covered Calls to July... for a .27 credit.
Comments: Beginning to slightly hate this position, but it isn't exactly taking up a ton of buying power, so rolling out the April 14th 16's at >50% max to July to reduce cost basis further. Cost basis in my shares now 14.09.
#SNDL - 0.6$ might be the next and final support.Hi All, my main 3 take-outs from this analysis are the following:
1- Historical movements might be repeating themselves. Look at the three blue elyptical shapes and movements..
2- 0.6$ might be the next support from where the price might be rebouncing
3- AFter the rebounce the price might have a spike as done three times previously in the past
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
Bought MJ for DOPE exposureBought MJ (small position)
Probably jumped in too soon, but wanted some DOPE exposure
CGC in an extremely tight wedge ahead of earningsCGC being held down for a long time. The pattern is likely to repeat itself. Potentially nice opportunity.
Rolling (IRA): MJ November 19th 16 Short Calls to January... for a .33/contract credit.
Comments: Rolling the short call aspect of my MJ 16 Covered Calls to January here. My cost basis is now 15.05/share minus .33 or 14.72/share, so I can conceivably contemplate rolling the short calls down to the 15 strike, since that would still be above my cost basis.
