They know this is where the Liquidity Zone is I am bullish on Pot Stocks here but I believe a shakeout is in order before the next bullish impulse and the bear is dead. This clear "support" line if broken will provide ample liquidity for big fish to get in as there are likely many stops and much fears below this trend line. I think this will likely mean a broader pot stock dump before we can finally have a new bull market. Good luck.
POT
SNDL Calls 1/24 JUICYLots of downtrend, lots of uncertainty, but this one could play out to be a major lottery winner. Earnings report recently released was a mixed bag, but it remains the book value is somewhere around $5. Trading well below that. Federal legalization could set off a powder keg but don't count on that anytime soon. My last call didn't work out too hot, but doubling down because shorters can go ahead and eat my shorts.
POT Stock WeedWEED chart on the 3D time frame.
-Weed looking good here, imo. 3D 13/48 MA cross imminent, but 48MA not yet turning up
-Bollinger squeeze in progress, nice channel
-Volume increasing
These are the technicals I look for.
None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!
GME, KOSS, AMC, Silver, Pot Stocks, and now KMPH is a loaded canI'm very bullish on this and long in the position.
The Reddit WSB are starting to get behind it and I'm seeing more buying on the tape in large volume than selling. Shorts are in a bad place.
Could see 20.00, 60.00, 90.00, or 120.00 conservatively due to very small float compared to the floats of GME or AMC.
Full disclosure I'm am long this stock and have been since I found the 71% short on a company with no debt and an FDA approved ADHD drug.
Dumpster Diving into Speculative Weed Winners: Canopy GrowthBig level of interest for Canopy Growth NASDAQ:CGC trying to fill the July 25, 2016 gap from 2.15 to 2.20 —post-bull pennant.
Pot stocks have taken a beating since the 2021 highs (pun intended). They're clearly oversold BUT they're sitting without a catalyst from the Biden administration toward marijuana legalization efforts.
If you're into dumpster diving, Canopy Growth could be a good dumpster to choose. They have exposure in the United States and don't forget, Constellation Brands $STZ has a large stake in the company. 🧐
For a trading strategy, look for momentum into the end of the week after the gap is filled . Otherwise, buckle up and settle in, as it is likely to continue breaking down out of the falling wedge into Tuesday, August 9, 2022 earnings.
KERN - WHY NOTlong long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long long
KERN SMOKING THE BUDDAH GETTING HIIIIIGH TOOOOOODAYYYY- Liking this set up. Green box has to hold and push price out.
- Blue is a potential way out but as long as the low of that green range holds I think we have a nice base to push to purple high and potentially higher.
- Also, the entire weed sector has been SILENT. Not one word. Could be the beginning or something but who knows...
TLRY - Second attempt - LONG ONLY TV- So we failed that last one, but as I said, I'm willing to give it a few attempts. Nice volume coming in and with price moving higher I'll get much more confident.
- It's holding that gap down pretty nice at the moment. Buy now with risk to lows I think is a decent trade, which you can add to with more pullbacks, but I kind of want something tighter a little higher.
- Above that green range is the trade I think with price trapped between that purple high and the green range.
- Above the purple completely free from that is the best one but I'd rather get in before and not worry about chop up there before it leaves.
- Let's see how this one plays out.
TLRY - Zombie mode incoming. Waking the dead. LONG ONLY TV- This sector could not be anymore DEAD. Everyone is dead and never want to look at this sector ever again. When they come back you'll get those mega mega moves that you can sell into and move onto the next.
- I haven't heard one sound coming out of this space in months, which is EXACTLY what you want when looking for a possible turnaround.
- If green holds you're looking really good for a MEGA move up that could really last. If it doesn't, wait for the next set up, but I think its worth holding this one for a while. Set stops and forget about it with targets also set.
- Below 3.19 == BAIL BAIL and wait for further price development
- These kinds of trades are the low risk with mega return potential, all while sitting on your ass and not even thinking about it.
- As I said, if this set up fails, I'll be trying a couple more as the potential pay out should hopefully dwarf any losses incurred on getting that sex god entry.
MJNA lower highs moved to a higher high. Something I just noticed about MJNA. It's been posting lower highs with OTC:MJNA each consecutive run, but the most recent run last year to .22 was a higher high. I'm thinking this run will go higher than .22 eventually, keeping in mind that it took 3 months from the beginning of the last move until its peak.
to catch a falling leaf pt.2I truly believe MSOs will bottom out at some point this year... if not already. Whether by way of a market wide dump during a correction, or by forming the bottom of a cup in an eventual cup and handle formation. I think the MSOs have some real world catalysts in place to start turning positive (SAFE Banking Act, more states legalizing, actual positive net income...) whereas the canadian growers are basically crossing their fingers for US legislation to pass while they bleed cash.
As with the canadian pot stocks tho, we want to really see this thing shallow out. The current downward trend is trudging along the 1/1 angle, but we need to start seeing local bottoms form on the 2/1 angle. If that happens, we'll likely see some kind ending diagonal form which would indicate wave C is finally coming to a close.
The other scenario is that this overheated market takes a dump and pot stocks go along w/ it... (see 2 yrs ago) in which case BTFD and hang on.
Ironically it's been the democrats that have been blocking SAFE from being passed into law... apparently looking like awesome social justice warriors is paramount in this endeavor. With their grip on Congress in question in the coming mid-terms they need to cut the crap and hustle to get something done. Expect a bump when SAFE passes as institutions start to get involved in the MSOs.
for fun only, not advice.
TLRY might have bottomed. Great entry opportunity?Fundamentals for weed stocks are not hot. TSX:WEED didn't see strong earnings and can't predict profitability anytime soon.
The cannabis market hasn't kept up expectations and we are seeing that reflected in the stocks. With all the bad news there may be some good.
It looks like TLRY is bottoming and if it has a clean breakout it could give an opportunity for some big gains. I don't believe this will happen unless we see some positive news for the cannabis sector though, and overall positive fundamentals.
Keep your eyes on it.
HEXO DD - The Next Big Cannabis StockMerger Closes Q3 2021
Shareholders Proposal in August 2021
HEXO Acquires Redecan.
www.globenewswire.com
“Redecan’s unwavering focus on the consumer, along with lean operating principles and highly efficient automated manufacturing technology, have allowed us to establish a significant presence in the Canadian market,” said Redecan co-founder Will Montour. “We’ve now entered a phase where scale is key, and our complementary consumer bases, brand portfolios and distribution relationships can enhance financial performance.”
Redecan brings leading manufacturing, automation and packaging capabilities, resulting in some of the most consistent, efficiently produced and innovative products in the industry. Its highly efficient proprietary pre-roll technology has supported some of the highest product gross margins in the industry.
seekingalpha.com
Redecan’s differentiated product portfolio includes top selling oils and capsules, and
leadership in the pre-roll category.
Key is Redecans best in class pre-roll automation of the Redees brand.
redecan.ca
Redees are the Hottest selling preroll in the Ontario Cannabis Store and always out of stock at the local cannabis stores.
Redecan Failed Acquisition.
Alta Vista was to acquire Redecan for 9.5 million in 2015 (before preroll advancements)
Redecan had Previous Acquisition partners in the past including Alta Vista Ventures
investingnews.com
And this tiny cannabis company caught the eye of Bloomberg back in Feb
www.bnnbloomberg.ca
How Redecan quietly became one of Canada's biggest pot companies
* Found by Rick Redekop
* one of the biggest cannabis producers in Canada
* doesn't really have a full-time CEO
* Brother Peter runs production side as well as members of the Hill family, who are behind the Grand River Enterprises tobacco empire, joined Redecan's ownership group.
* Grand River is privately owned cigarette manufacturer empire
* Redecan has no plans to tap public markets, despite getting frequent calls to do so
"If you asked me two years ago, having this unlimited bankroll that some of these other companies had, I would have said, 'Yeah, we would [have gone public.' It would have been nice to have a little bit more money to throw around,” he said. “But I think having that big wallet kind of backfired on a lot of people."
It’s important to understand Redecans history of finding the right deal. If Redecan doesn’t think the merger will work, I would expect a sharp turnaround in HEXO.
Prior Pot Stock Merger
TLRY ran up 172% over the next 30 days to its current support level after the announcement of a merger with Aphria.
TLRY ran another 238% over 26 days during Jan and Feb Gamestop meme stock rally.
Tilray
Market Cap: 7.5B
Shares 450M
P/S 14.10
HEXO
Market Cap: 875M
Shares: 122M
P/S 9.12
If Hexo can enter the US / EU markets It’s reasonable to speculate that HEXO can run to share price of of 16.50 (150% gains) over next 30 days similar to the 170% 30 day run Tilray and Aphria Merger.
PLEASE NOTE - This is NOT FINANCIAL ADVICE! I’m NEW to charting, research, analysis and all aspects of the stock market and equities. These are only my random ideas to learn how to prepare my own long term investments through due diligence.
Aphria Tanking on Weak Earnings, Revenue MissIf the 100DMA breaks, it's all over. We're at critical support, and it has to hold, else the 200DMA comes into play at 9.10. If we see a notable bounce off broader earnings strength this week (positive ETF flows), we could be in for a profitable bounce of 10-15%...