CGC downwards forecastJust putting out a call since I have been quiet for a bit. Congrats for anyone who opened a short position after the daily EQ break which I published a while ago.
Hope you can see why I am favouring a short position here. For those who follow me you will know why I ideally like to open positions in this sort of set up.
Yellow trend lines have been drawn up on the weekly time frame.
White trend lines drawn up on the daily.
Hope you like the chart.
Weed
CGC looking goodWith all the hype behind us, we're back to normal. Still a lot of room for consolidation. Looking at the long term, we're back inside the organic growth channel, which has provided support for as long as Cramer was pumping, but is now likely to provide resistance again, as CGC is trying to make sense of what they are doing.
FIB levels on watch, long term wedge still in place, while we wait for significant news or results that will justify a sustainable break out toward analyst targets.
Long Aurora Cannabis (ACB) - Intraday- TSX:ACB broke above a declining trend line (1hr chart)
- Prices are trading above their 20-day and 50-day MA (1hr chart)
- Prices rebounded off their 50-day MA (daily chart)
- Bullish divergence with lower lows on prices but same lows on MACD and Money Flow
- MACD is about to turn positive.
Weed looking weak on daily, broke down pennant Weed looking weak on daily, broke down pennant. Waiting for USA banking vote, moved down on CRON earnings past 2 days, CTST had bad earnings too. Will wait for 50% Fib retrace and see if markets roll over. Good luck!
ORHB Orhub, big gains? High risk high reward.so ive stopped posting charts , so this ones gonna be simple.
looking for april breakouts on MMJ charts, including this hidden gem.
finding support @.1, which is right above its initial open price 2 years ago @ .06.
looking to hit the top of the larger wedge as shown above. possible 1000% gain if played out correctly., and have seen alot of buys @ this low level.
EMBI , emblem bio science ,NMUS bio science has a few interesting medical applications in research for pot
but did a name change to Emerald Bioscience inc !
this move makes me suspicious on naming close to another named pot company
does have a up trend channel forming
CGC Breakout and then Breakdown.CGC looks like it's gonna breakout and then breakdown!.
Market is getting toppy. either we are getting fireworks in the skies or nuclear bomb dropping down on us.
Selling the Cannabis Bubble (Part 2)The pot bubble is going to burst. From the technical perspective we are pulling the trigger here after retracing 61.8% of the initial leg to the downside from the highs. For those who believe in the bearish story for the industry, now is the time to get back to work on the sell-side. More and more funds with large central books are starting to open up positions writing upside vol from here onwards . The easier play in this field is to just short the common stock with targets at the bottom of the range.
The drug although very safe does not have any reasonable medical benefits. Obviously we have the lifestyle/recreational benefit but not any obvious health benefit other than epileptic syndromes. I do think it has some analgesic properties but these have to be understood through more clinical trials and et... to put simply we need more robust toxicology and clinical understanding here before any further upside is unlocked.
Best of luck those who are already positioned on the sell side in $WEED and the others.
weedweak at least levels suggest price will come towards 50$ range - it just can't above 65$ not enough buyers showing up..market profile suggest 50$ at a naked VPOC to come test and find buyers 15-20% drop very possible here will probably affect whole cannabis sector which is pretty much overbought anyway
Beautiful Bullish Pennant EQ -Break coming!Topside resistance: 48 psychological, break could lead to previous highs 50-55 range, up to 15% profit potential, if not ATH.
Bottom support: 45 psychological & 43,71 previous Higher Low/trendline coming in. Break could lead to HL compared to 25.15, => further tightening EQ range on the Weekly.
Watch for volume when break occurs, in order to avoid fake-outs.
Good luck! ;)
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CGC closed above 1o emaCGC has
CGC has been dormant. it finally closed above 10 ema on the 4H.
Let's see if it finds support there
Canopy GC: High return long term investment.Canopy Growth Corporation is on strong long term bullish price action both on 1W (RSI = 58.856, MACD = 4.873, Highs/Lows = 2.6189) and 1M (RSI = 66.122, MACD = 12.099, Highs/Lows = 7.3414). Since mid 2017 in particular, it has been trading on Higher Lows reaching +1000% in growth. Using the Pitchfork to identify the pressure zone, we estimate that the asset is close close to a bullish accumulation point (Higher Low). Out moderate Higher High target is 110.00.
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Long KHRN- KHRN rebounded off an interesting overlap level near $3
- bullish divergence with lower lows on prices but higher lows on Money Flow
- MACD is about to turn positive.
- Huge bullish engulfing pattern on the daily chart.
CGC just converging trendlines? Guess what...CGC has converging trend lines...but is an EW triangle...Possibly....is it 1 2,1 2, is it a running or symmetrical triangle!?!? STAY TUNED...the suspense is killing me.
ACB Breakout forming Ascending triangle patternACB breakout is forming, Ascending triangle pattern
So far the marijuana market has been dragged down by the SPY with analyst upgrades on ACB it's pulling in a lot of investors.
If the SPY recovers from this point even for a brief period of time we may be heading back up to $13-14 levels.
IWM top is in?Little late night charting, have a nice naked chart with a couple areas of focus. Very simple and easy on the eye for bears but maybe not so much for the bulls. After a very boring fight performance from the bears since December 24th, they might be sneaking up on the bulls here. Of course this trade deal is still on the horizon but feels like a lot of this could be priced in/buy the rumor sell the news. Now of course just speculation but a possible scenario that could play out or also we could see some downward movement then some consolidation then the news arrives and we head back north. In my eyes I'm keeping it simple and I see a that a trade-able top is in the top yellow box, target would be middle yellow box. From there we bounce or we head for lower yellow box. Very simple. Zoom this daily chart into the weekly chart and you can see a huge head and shoulders pattern. Could be a scary ride from here until April so stay alert, stay safe, hedge your plays if possible, and look into weed stocks in the mean time. Thinking tomorrow will most likely be a very crazy day in the markets. Goodluck everyone.
SHORT CGC RUN!!!Run for your life... JK
In all seriousness this stock is and has been overvalued for a very long time. Charts starting to reflect this.
With the failure to break ATH weekly close its starting to form a double top formation.
Especially with this weeks candle opening below last weeks red candle it is adding to my confidence on the short.
Ultimately the target is as highlighted in the chart but it is reasonable to take profits along the way.
I will update the chart throughout the weeks.
WEED STOCKSSS:CGCCheck my CRON post for more details on positions and weed stocks in general, next leg up is here, load up and be safe in this shaky market potheads. :)
WEED STOCKSSS: ACBMy other favorite, view my CRON play posted earlier for more info on the weed stocks. Very self explanatory, load up and have fun in this shaky market my potheads :)
