WM Technology | MAPS | Long at $1.00WM Technology NASDAQ:MAPS provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. After it's de-SPAC in 2020, it soared to $29.50 and now can be found for around $1.00. It's been consolidating at these lows for almost two years, and it may be gaining algorithmic traction for a move soon based on my selected simple moving average (SMA). Often (but not always), when this SMA gets close to the price, there is a pop to the historical SMA. Currently, it is in a personal buy zone at $1.00.
Target #1 = $1.50
Target #2 = $2.00
Weedsector
Jazz Pharmaceuticals: High Life 🍁It must be 420 somewhere, since the Jazz Pharmaceuticals stock is paving its way higher and higher to ultimately reach the orange target zone. Once the blue wave (b) is completed, the stock should drop all the way below the $125.36 support line and continue the correction until the end of the green wave within the yellow trading area. Once the course has hit the corrective low, it can turn back up and start a sturdy upwards trend.
WeedMD: Let’s Go! 👍👍👍The WeedMD stock withstood some support lines and is still within the trading area. We expect the stock to recover and push for massive gains in the near future. First, it is important to stabilize above the trading zone. After that, we expect the stock to rise continuously.
Good opportunity!
Aurora'ing back to life..will ACB burn one to get a yearly HIGH?EMA cross (50/200) on the 2hr chart, maybe back testing the 200 EMA now. Bresserts crossover on the weekly chart in oversold territory (last time this happened, it pumped $10 in the following 2 weeks - past performance not necessarily indicative of future results).
CMF shows money flow is in positive territory, relative strength hovering just under 50 RSI. I'd like to see the price touch the $8.80-9.00 ideally, but the downside can be complete here. Semi-worst case it should hold $8.00 but still would not invalidate until major support is breached. Good R:R IMO... this one can be a volatile beast. It is possible we see a pump to the $10.90 region and a retrace to these levels again ($8.50-$9.50) before moving higher. Placing major support at $7.20, soon to move up to $7.60. Keep in mind this is the one traded on the NASDAQ in USD, so you'd have to convert support regions accordingly if trading on the TSX exchange chart. Inverted H&S formation points to $21-$23 region... but should go 'HIGH'er long term.
SNDL Long next weekIf NASDAQ:SNDL continues trading sideways it will hit the supporting trend-line around next week which will coincide US presidential changeover. Good probability it will bounce off this trend-line and head to the $1 price range and perhaps higher. With cannabis friendly reform on the plate many cannabis companies stocks should do well this year.
Blank-Check Firm Silver Spike Soars After Weedmaps Deal mergerWM Holding Company, LLC, the Leading Technology Platform to the Cannabis Industry, to List on Nasdaq Through Merger With Silver Spike Acquisition Corp.
The estimated post transaction equity value of the combined Company is approximately $1.5 billion, assuming the $10.00 per share PIPE price and no redemptions by Silver Spike shareholders and provides up to $575 million of gross proceeds through the approximately $250 million of cash held-in-trust by Silver Spike Acquisition Corp. and a fully-committed common stock PIPE of $325 million
As a result of outsized demand, the PIPE offering was significantly oversubscribed and upsized, including investment from funds managed by AFV Partners, the Federated Hermes Kaufmann Funds and Senvest Management LLC along with a $35 million commitment from Silver Spike Capital
WM Holding’s executive officers will retain 100% of their equity in the combined company, which will have approximately $100 million of cash on hand after closing.
WMH has grown revenue at a CAGR of 40% over the last five years and is on track to deliver $160 million in revenue and $35 million in EBITDA for 2020. stock
finance.yahoo.com
TAAT Will Be The Best Performing Equity In 2021TAAT is launching in Ohio this month and it looks ready to take out the all time highs again. Cup and handle is almost complete and holding key Fib levels. Beyond Tobacco will be a game changer! Helping people quit nicotine and it's a lot cheaper than current CBD products.
Looking for a sizable advance in pot stocks - CRBP to outperformFirst I would like to start by saying that we are looking for a major bottom in pot stocks. Corbus Pharmaceuticals is one stock in the weed sector, which is already showing signs of a lasting low in place near 3.30 and overall leading to the upside along with Aurora and Apharia. The first piece of evidence is the upside break of the descending price channel that has contained the entire bear market since late 2016. Prices subsequently retested the upper side of the channel, which then acted as support to the latest drop. This is another positive sign for the bulls. We view this breakout as the early stages of a third-wave advance in Elliott terms. This implies sharply higher prices towards the Fibonacci cluster into the 18-19 area. Likely stopping point for prices in wave ((3)) are marked on the chart with the wave ((1)) high near 11 a major obstacle. Above there confirms the presence of wave ((3)) and adds upside traction.
Disclaimer: This is not trading advice! I am merely expressing my opinion, utilizing the Wave Principle as my main tool. You should always do your own research before risking your hard-earned money. The opinion expressed in this post is for educational purposes only!
LONG CRONI have been following the weed sector closely as it has a favorable vol indication for someone with my size and have determined that there is a strong probability that we are due for some oversold bounces in this sector. Might be worth throwing in a bet and calculating RR accordingly. Modify as needed according to your risk tolerance and size.
God Speed,
Mr. Manbearpig