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Potstocks

LHSIFThe marijuanna and CBD industry has been gaining some heat over the last week or so. Liberty Health has yet to break out of the falling wedge which has taken over 3 years to play out. I believe this a great R:R given the strength behind the possible upside push after forming this pattern over the years. My minimum TP given no drastic news on LHSIF is around $0.90. Will be buying down to around $0.22 Liberty is a high beta stock, so keep that in mind when positioning in your portfolio.
LLong
by wolf_rojo
Is it Up in Smoke for Pot Stocks? | ALTERNATIVE HARVEST ($MJ)🌿 Alternative Harvest is on its way up after an extremely bearish last half of 2019 for pot stocks, but is it up in smoke or down in ashes for MJ? Right now we have MJ rallying off the bottom as darlings of cannabis like Aurora and Tilray push higher. This move in some pot stocks has pushed others up. Some of this is fundamental, with some better than expected earnings and one study that shows that maybe smoking pot helps ward off COVID, while some of this seems to be FOMO. Although pot stocks can really run when they run, the overall bearishness of the trend has us looking to short exhaustion from this rally... even if it is just as a hedge (although we will likely wait until Tuesday's open to execute this since we have a three day weekend). Resource: www.thestreet.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨ Like & Follow to help the Alpha community grow 🎉🎉 --- 1. Fractal Trend is showing a downtrend (Maroon bar color) on the 4-hour timeframe. Despite the recent strength in MJ, the trend has been bearish for a while. 2. With this strategy, we are looking for short setups in a downtrend and as such want to enter short on retests of bearish order blocks plotted by Orderblock Mapping (Maroon line color) and/or bearish S/R levels plotted by Directional Bias (Maroon line color). 3. We are looking for a short entry off of the range formed by the R1 bearish order block with a stop placed at the gap and a target of the S1 order block + S/R flip cluster. 4. If that entry doesn't work, we are looking for a short entry off of the major S/R flip at R2 with a stop placed above the R3 order block cluster and a target of S1. 5. Additional notable levels include S2 and S3. Notable here is that a bounce off S1 would create a potential series of higher lows lending to the bull case for MJ, while a break to S2 or S3 would break the short term bullish structure and lend itself to the overall bearish bias the chart already has. This short setup makes a lot of sense to us given how bearish MJ has been over the past year and are not trying to catch any knives calling a bottom too early. That said, due to recent strength and a three day weekend for the retail markets it makes sense to hold off on opening a short until Tuesday. Good luck MJ traders!
AMEX:MJ
by AlphaBotSystem
Inverse Head & Shoulders breakout for ACB?ACB has been on a nice bullish uptrend since the 12 for 1 stock split, that was a great move on their behalf, however, it is interesting to see them buy a U.S asset & issue shares immediately after lol. 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.
TSX:ACB
by ScotianBot
[$ACB] Marijuana stocks are Strong !FR/EN Tous les majors des producteurs de cannabis thérapeutiques enregistrent de forts gains, pour autant, $ACB annonce de très bonnes nouvelles, et cela plait fortement aux investisseurs : - Croissance plus haute que prévue du revenu (+35% de hausse ce trimestre - 75 Millions $ Canadien en Q1) - Production du cannabis thérapeutique parmi l'un des moins cher du marché , 4,33 $ Canadien et ACB continue d'innover pour fournir un produit de qualité à moindre coût. - la légalisation du Cannabis se démocratise aux Etats Unis - 11 états + Washington D.C ont légalisé le cannabis récréatif + la légalisation totale au Canada depuis Octobre 2018. -- All of the major therapeutic cannabis producers are making strong gains, yet $ACB is announcing some very good news, and this is very pleasing to investors: - Higher than expected revenue growth (+35% increase this quarter - C$75 million in Q1). - Producing one of the cheapest therapeutic cannabis on the market, $4.33 Canadian and ACB continues to innovate to provide a quality product at a lower cost. - Cannabis legalization is democratizing in the United States - 11 states + Washington D.C. have legalized recreational cannabis + total legalization in Canada since October 2018. Translated with www.DeepL.com (free version)
ALong
by NicoDCrypto
Cannabis Looking Strong. (MJ)Last post on MJ Alternative Harvest we started we were opening longs @ $11.90 Currently sitting up 5% We took this position based off the large timeframes, the weekly and 2 week. Now you see a breakout with a settlement back on old Resistance to test as support. Key is to play this as support. If it shifted right and than turned to break support back below the pattern upward support. We would than look for possible Retracement. I'll stay put with my position for now. This could be a really good time to diversify into the cannabis sector. Enjoy, hope she keeps trucking! Will keep you updated
AMEX:MJLong
by UnknownUnicorn2319099
CGC Breaks Above 38.2% Fibonacci Resistance Canopy Growth Corp(CGC) closed at $17.53 gaining $1.94(+12.44%) on the trading session today. Price closed above the 38.2% Fibonacci retracement level which had been acting as resistance for the past month and is bullish move considering how long it was pegged below the 38.2% level. While this is a bullish move, we need to see price close above the 50% Fibonacci retracement level which is where price hit resistance on todays move. The 50% Fibonacci level is the midpoint between the total Fibonacci range from the January high of $25.97 to the March low of $9.00. Price trending above the 50% level indicates a bullish trend while price trending below the 50% level indicates a bearish trend. Should price see more gains tomorrow that would be a bullish sign, but a move above the 61.8% Fib level is needed to signal uptrend continuation. Worth noting is that todays price candle closed green after nearly a month of gray price candles. Green indicates that price momentum is now bullish according to my candle color algorithm. The Relative Strength Index(RSI) shows the green RSI line rising above the 50 level which is the midpoint of the total RSI range. An RSI reading above 50 indicates short-term bullish momentum while a reading below 50 indicates short-term bearish momentum. The RSI crossed above the 60 level today which indicates that there is strong momentum behind price right now. The purple RSI signal line is also rising which indicates intermediate-term momentum is bullish as well. In general, you want to see the green RSI line rising above the purple signal line, and for both lines to be above the 50 level as a sign of bullish momentum. The Price Percent Oscillator(PPO) shows the green PPO line rising above the purple signal line, both lines trending up and both lines crossing above the 0 level. This indicates bullish momentum in the short-term as a PPO reading above 0 is considered bullish while a PPO reading below 0 is considered bearish. The Average Directional Index(ADX) show the green +DI line rising above the purple -DI line which indicates positive direction behind price when comparing recent highs to recent lows in price. The histogram behind the DI lines is still low which indicates relatively weak strength behind price. In general during a price move higher, you want to see the green +DI line above the purple -DI line and the histogram bars rising above the white dotted line at the 25 level as an indication of bullish strength behind price. The volume indicator shows that volume today was at its highest level since March 26th, and also in a recent trend of increasing volume. Rising volume as price moves higher is a bullish sign. Today’s volume bar is bright green and indicates that volume and price are both higher than they were 10 days ago and is considered a bullish price/volume day. Overall, the move today is bullish as price broke above 38.2% resistance, the lower momentum and trend indicators are all bullish, and volume is increasing over the past few days and broke to a new 1-month high today. The tentative stop-loss level for long trades is shown in blue and is just below the most recent consolidation lows prior to the breakout today.
CLong
by PrepForProfit
Consolidation Period Like how CGC is Reacting to Markets Crazy violent moves it is doing fine consolidating holding support of 20 ema while it hasn't found the volume to breakthrough the shorter resistance and hold there is strong support and no one bailing no mater what traders are doing i feel it should do well into earnings. as far as earnings they will not be looking so much at numbers as to forecast and i think Klien is making all the smart moves this is not being ran by stoners there is a serious numbers man in charge but i don't bet solely on numbers and balance sheets i was a fan of Blackstone in the low 20's several years ago when know one was interested Steve has Proven everyone wrong and so will Dave. watch the BBTighten if i where to trade Bollinger Band line, in the past upon heavy volume the 15min chart showed great entry right before it crossed on heavy volume usually made tremendous move...
CLong
by Cbnyc
1
Alternative Harvest ETFSymbol: MJ The cannabis sector. The holy grail of money to be flooded to. These cannabis prices are insane. I've been wanting to buy into this ETF but clearly this has not been a good sign in a while. When market corrects I think the cannabis sector will take off running. Will keep watching to see if it wants to correct lower. Obviously I'm on the weekly so I'm looking for a good transition. ---------------------------------------------------- Want to level up your trading skills? We just realesed our new course! Follow our tradingview page and visit the link in our bio if you are looking for new strategy to add to your arsenal. Also checkout our trading indicator available in the link on our page. --------------------------------------------------- Thank you for your continued support, God bless. - Major League Trader
AMEX:MJ
by UnknownUnicorn2319099