Tilray - Anybody has good insight on it? Looks like Tilray still has room to fall? Not much support has been built up at current level and there is a gap to fill?
Weed
$ACB is trading on the support level, let's try to enter!Resistance ~ $9 - $9.9
Support:
Light ~ $7 - $8
Strong ~ $5
Enter ~ $7.8
TP 1 ~ $9.5
Stop Loss ~ $7.2
GL!
is it a good time to buy $TLRY stock?The $TLRY price is trading around the support level, so it can be the good enter with low risk and the potential 30-40% reward.
Support ~ $33 - $41
Resistance ~ $72 - $77
Enter ~ $33 - $35
Stop Loss ~ $29
TP 1 ~ $50
TP 2 ~ $70 and higher per share.
Good Luck.
WEED Nothing BullishVery bearish chart - no reason to catch the falling knife and buy until something confirms. Weekly MACD turning negative and already below the signal is confirming this down move.
No catalyst yet - I'll need at least a break of the recent weekly downtrend.
Meanwhile, negative divergence on the MACD and DMI will weigh on it.
Weekly WEED Still Looking BearishNegative divergence on the MACD and DMI dating back a few months. Weekly still looks bearish & Waiting to see if we can get daily charts and technicals to turn back up.
SMOKE BUBBLE PART II: HUGE BREAK OUT INCOMINGSome months ago I spoke about a possible bubble on Canopy.
Actually we are near a break out situation.
50 dollars is acting since end of august as resistance. 3 attempt and no success. Price is since 5 months contracting in a range of less than 15 dollars and the trendline of the logarithmic chart is approaching.
The situation has not an easy interpretation, but something is clear. A huge breakout is approaching,weeks or a couple of months.
Trend is your friend and goes up or 50 dollars is the supply zone and an healthy correction will follow? Don't know exactly but in the next months there is place for big gains or big losses. Of that I'm sure
A break on the upper side will be strong indicative for a further parabolic growth.
BIO
LABS - Breakout of pennant, macd crossover upThe only green stock in weed sector, although its extraction company. MACD crossover up and I think it can run for another day or two. VFF beat earnings, so the whole mj sector could be green 1 or 2 days. May 14th has more earnings from mj companies.
Long GWPHUrg.. tradingview decided to hide a lot of my previous idea because I didn't go pro, what a scam.
If you like my charts and would like to support me going pro for $12.95, please msg me so i can keep sending out these ideas weekly.
TradingView
Open position at $182
Stop loss at $180
Take profit at $187
Why this play?
Gwph had a pretty good earning but got beaten down due to market conditions.
they had a lot of upgrades with price range of $200+ the last few days but they can't move with market uncertainty.
AS soon as market runs, they will fly, but ofc that will depend on market.
ACB - ShortACB closed below the green trend line on the daily.
Target 1 $7.68
Target 2 $7.31
Target 2 $7.20
Target 4 $6.32
Cannabis is an emerging market and while it will be quite big in the future, I wouldn't expect cannabis stocks to necessarily reflect that growth.
Case in point. I live in Colorado, which is arguably the Amsterdam of the US, when it comes to weed.
Seriously. Weed dispensaries outnumber liquor stores. Probably a good thing but check this out:
Many of those dispensaries are just one or two bad months away from bankruptcy and many are attempting to sell their business/licenses.
Much like commercial real estate in Denver, after spiking supply to meet demand, an equilibrium has found its place and the value of said real estate is falling.
I think Cannabis stocks are over hyped and they are not yet a value buy.
IIPR Short-term Long OpportunityPeep this nice rising wedge pattern that price has respected for the last several weeks. I'm playing a 7% potential profit long to the top of the wedge.
We're riding along a nice horizontal support around $84 and also hovering over a month-long trendline support on RSI. Solid setup with a great risk/reward ratio.
Entry: 84
TP: 90
S/L: 82.75
R/R: 3.65
TLRY weekly analysisTLRY formed a parabolic wedge bull flag last week which triggered this week and will potentially lead to bull trend resumption. The bears appear to be exiting on a test of the previous weeks bear close but the bulls will need follow through over the next few weeks. If prices continue to sell off the bears will likely test the bull breakout gap around $32 and $27.
KSHB weekly analysisKSHB is in a bull flag trading range and larger trading range after making a measured move up based on the height of the opening range. Bears need a strong breakout below the $4 low, where the bulls will probably buy again. If the bears get a breakout below prices will likely test the $3 start of the bull spike or the tight trading range around $2.
ACB - CRYSTAL BALLBlue triangle indicates the current range.
Green box is buy.
Red box is sell.
Blue line indicates potential support/resistance.
Green line indicates t/p.
This is a log chart.
This is not financial advice. All charts shown on my page, including this one, are just for fun.
If you enjoy my ideas please give this post a like and follow my page if you would like to see future posts! :)
CRON weekly analysisCRON
CRON reversed down from a parabolic wedge and tested below the 1/28 bull gap and the previous all time high. Bulls still have gaps open below and are currently trying to close the bar on its high for a high 2 buy setup off the EMA. But decent selling pressure over past few weeks, possible second leg down before bulls return.
ACB weekly analysisACB 4/26
Failed L2/ nested H2 /Breakout pullback test of all time high in ACB. So far this week is a small doji bar, and small range of previous few weeks. Bull gaps still below, if prices test below last weeks bull bar prices will likely test the EMA and below the 8.00 big bull bar gap.
LEVB weekly analysisLEVB 4/26
Bull breakout from nested H2 at EMA, bull gaps open below. Possible second bull leg up from Jan rally. Selling pressure above around $6. Bulls need strong follow through above. Mostly sideways on higher time frame chart (monthly).
WEED weekly analysisWEED
WEED is in a broad bull channel with good buying pressure and no strong reversal yet. The bears recently attempted to form a lower high, but prices are stalled at the EMA and set up a nested high 2 /wedge bull flag. The bulls have a breakout gap below around $47.50. If it remains open, prices will likely test the all time high. A new all time high could form a wedge reversal down, at which point bulls will likely take profits and wait for two legs sideways to down before buying again, unless the reversal is strong.
WEED/CGC breakout BullflagCGC/WEED is moving toward previous resistance, $64-65 has been the territory of many false breakouts. This recent catalyst that reversed the downtrend may allow it to move past previous resistance, Merill Lynch initiated coverage of CGC/CRON/ACB, also at the same time CGC bought Acreage Holdings which was 3.4 billion dollar acquisition.
This was a big catalyst but more so was the Merill Lynch coverage it spawned a huge interest from new investors. Big volume event with 4x normal volume.
I will purchase options if it beats $65 and sticks. Target is $74 for me. Probably going to play this with a Debit Spread $5 apart. 6 weeks out.
Lets see how it plays out.
Paper trading this event. This isn't trading advice just a journal on tradingview.
ACB & CGC: Trending?Both these stocks have massively bullish monthly charts, and are probably reaching the euphoria phase where investors pile into them like crazy, forming a blow off top, followed by a lengthy consolidation after the bubble peaks...Daily charts give excellent trading setups using 'Key Hidden Levels' and 'Time@Mode' Techniques, created by my mentor, @timwest.
I'm long from this zone, was long from 6.26 on $ACB, and sold at 8.08:
Was long $CGC from 47.4, and sold at 49.33, then bought back recently near support, selling in profit on Friday once again.
We reentered today, and looking to profit from the next uptrend, that might confirm if $ACB earnings make the stocks gap up tomorrow.
Tread carefully, this trend might be similar to jumping into crypto by the time $BTCUSD shot from 10k to almost 20k in late 2017. Retail traders starting to get involved, institutional investors getting more confident and adding.
Best of luck,
Ivan Labrie.
