TCNNF - Trulieve Cannabis | Pot Stock CorrectionWith the recent pump and dump on 4/03 and recent the Safe Banking rally, it didn't take much to erase those stairs of price action.
For the most part, I would be alerting myself in the "loading zone" with a chance of panic selling, potential timeline of mid-late summer.
TCNNF
TCNNF Current Price $36 PT $50TCNNF | Shares (no options on this)
TCNNF Current Price $36 Price Target $50
This company is a US based weed producer and retailer. Trueville cannabis is one of the rarely profitable cannabis firms. They are set to benefit greater than any other stock on the market from more states legalizing marijuana because they are a pure play US pot company. Why buy Canadian pot companies ( TLRY,ACB,SNDL) that aren't profitable when the real weed market is in the US. For example the state of California alone is a larger market for cannabis sales than the entire country of Canada. Long term holder of TCNNF, Its my top pick of the pot sector.
HIGH TIGHT FLAG Pattern for APHA - Extremely BullishWe witnessed the impossible last week with the Democrats taking control of the Senate. Technical, fundamental and political environments are in perfect sync and there will be a cash grab by institutions very shortly for all MJ stocks.
HIGH TIGHT FLAG pattern has been detected for APHA. This is considered a rare and extremely bullish pattern (what happened to Zoom during Covid lockdown). It begins with the SP moving 100-120% in <8 weeks (1st pole), followed by no more than 25% pullback <5 weeks (flag/pennant), followed by quick retracement. Once the pole is broken, a 2nd pole is formed which moves 50-60% within the same timeframe as the 1st pole.
I noted APHA’s numbers on the chart. TP is $13 in 35 days. This pattern was also detected for CGC ($44 TP), VFF ($18 PT), TCNNF ($47 PT). If you own any of these stocks, DO NOT SELL. Institutions will be fighting over these stocks which will drive the SP through the roof.
Validation on my hypothesis needs to happen Monday/Tuesday, Jan 11/12! Volume and price movement must be massive otherwise pattern will fail. If Fed gov’t cooperates and MORE Act passes with ease, this pattern will continue to repeat.
Check out US Steel, currently forming its 2nd pole. TP $30 by end of this month.
$TCNNF Grabs the Mantle of Sector LeadershipTCNNF is clearly a leadership pot stock at this point. As we gear up to run into the 2020 elections -- and all the new state-wide legalization moves that will start to pique attention -- this is a stock that markets have started to embrace.
The technical picture matches that idea, with the recent breakout above multi-year sloped resistance now in place.
Liberty Health Sciences weathering the sector downtrendComparing the stock performances of familiar US MSO's to the SSO Liberty Health Sciences so far in 2020. LHS still holding a 7% gain with Curaleaf @ 3% even after the recent week of sector selling. Can't say the same for the majority of their peers though.
$TCNNF is Technically Leading the Green WaveTCNNF
Shares of the stock have been a powerhouse leader in the cannabis patch in recent action. This is one of a very, very select group that has shown genuine technical strength not simply tied to US legislative moves. The stock is on a roll and still has a ways to go before flashing worrisome levels of overbought-ness.
Trulieve Cannabis Corp (OTCMKTS:TCNNF) just announced its financial results for the third quarter of 2019 ended September 30, 2019, including record revenue of $70.7 million, an increase of 22% on a sequential quarter-to-quarter basis, and an adjusted EBITDA increase from $31.6 million in Q2 2019 to $36.9 million at September 30, 2019.
"Our third quarter results reflect our continued customer loyalty, growth, and leadership position. Trulieve's strong brand, wide-ranging access to stores, and authentic customer experience have resonated with our customers and patients," stated Kim Rivers, Trulieve CEO. "The third quarter was also successful in further strengthening our position in our existing markets as well as preparing for new market entry. We continue to build operational efficiencies and financial discipline to ensure a solid foundation, cash reserves, and the right tools at our disposal to expand our footprint. Looking ahead, this is an exciting time as we execute on our strategic vision to be one of the top performing cannabis companies in North America."
Trulieve Cannabis Corp (OTCMKTS:TCNNF) promulgates itself as a company that, through its subsidiary, Trulieve, Inc., engages in the cultivation, possession, distribution, and sale of medical cannabis in the United States.
It offers a suite of Trulieve branded products with approximately 125 SKUs, including nasal sprays, capsules, concentrates, syringes, and cannabis flower in tamper-proof containers for vaporizers, topical creams, tinctures, and vape cartridges.
Read More at: dailytrendingstocks.com
Trulieve Cannabis Corp After doing some research on this company, I would give it a chance. We have hit bottom and bounced nicely. So I will expect two things...
1. We just continue up with no pullback to around Jan 15 - 17 high of earlier this year. Minor correction or consolidation zone around 10 that could breakout and has the probability to make a run for it to 15 or higher. Production of hemp and cannabis went up about 500% in the U.S. back in 2016..since then its been spend spend spend to develop the industry in america and make it profitable. I actually am focusing on these companies in my recruitment business and what better way than to support them via stocks as well? Ill buy at these levels :) Low risk higher reward.
TCNNF OutlookUsing supply and demand, we can see the path we need to complete in order to proceed up. Breaking past the median and creating new support would be a great start. This stock is still in its very early days so its hard to technically chart this with extreme accuracy, we will have to see how it plays out. I will continue to cover this stock.
TRULIEVE - Bullish or Bearish ?Dear Traders,
A little update on TRULIEVE.
Price retraced towards the 0.5 fib level and touched it many times, but the bulls managed to close with the price above the fib level, and above the 55 ema, which is a bullish sign, but on the other hand I see a MACD that isn't crossing upwards yet, and a RSI that's under 50. These indicators show many a lot of possibilities so I prefer to stay Neutral until further notice.
What are your thoughts ?
TRULIEVE - Technical AnalysisDear Traders,
We don't have enough data to predict what so ever, for now, the only thing we can do is draw the lines and see how this will evolve over time.
There is a lot of hype around this stock so anything could happen.
About Trulieve Cannabis Corp (TCNNF) :
Trulieve Cannabis Corp. operates as a holding company. The Company, through its subsidiaries, engages in the cultivation, possession, sale, and distribution of medical cannabis. Trulieve Cannabis offers its services in the United States and Canada.