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Weedstocks

ACB / Cannibals Stocks CrashAURORA CANNABIS All Time High : $12.51 Waiting for $1 to buy. Disclaimer: We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and are therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
A
by CryptoTrend-Alerts
2
CGC $12-$13 BottomBeen calling $12.5 for a couple weeks now, and a few things making this setup perfect. 1. It's reaching this level in extreme oversold conditions 2. Overall market on fire at ATH rn. 3. Santi Claus is coming? Looking for a really nice monthly bounce. Below are my targets, and whether or not I take profit at 1 or 2 depends on how we get there. Target 1 = .382 Fib of the drop from ATH ~ $23 Target 2 = .5 Fib of the drop from ATH ~ $27 Target 3 = .618 Fib of the drop from ATH (Main Target) ~$33 Risk: Will be scaling into OTM APR options to maximize my R/R, and taking on 100% risk, as I am confident we WILL get a bounce at some point soon because of how extended we are. Wheter it's $13, $12.5, or even $10 it doesn't really matter, I'll just have to lower my targets. GL to all my MJ bulls. Better days ahead. -ill
CLong
by derelict_dalmatian
cgc quick chart @cryptoknee do I know exactly whats going on here?, not really, Do I love this count?...NO. I do know the sector is getting slaughtered RN and any bounce is dumping pretty hard. Will I trade off this chart, yes, but will less capital at risk. Gut/greed is telling me 10$ but..I do have a count that goes to 4$. I also see some geometry here where we may bounce a bit. Gaps usually happen in the 3s, when they happen in the 3 of 5 it can signal exhaustion... Im keeping my eyes peeled for ext 5ths and diags in CGC. but for now im looking lower...
C
by CryptoKnee
Canopy Growth Price Action - Is the Bottom in for Potstocks?We are now near the bottom of the previous wave 4 of one lesser degree, and IMO it's about time for shorts that have rode this down to take their profits and flip long. I've updated my count and I now have A as a leading diagonal, and I have this whole correction as a standard ZigZag. Whatever we have here is in 3 waves, and this count seems to work, especially the fib relationships when I did a deep dive. Wave C looks pretty straight forward with 5 waves in a channel. The extended wave 3 hit the 1.618 x A target right on the nose; It'd be hard to argue that that 5 wave move is not an impulse. Question is, where are we in the final 5th wave? I can't get a great count on this one, and see two possibilities: 1. Wave 5 is some sort of diagonal, and has completed. What I like about this is the wave A and C equality of the the large red ZigZag. What I don't like is the ending diagonal is messy. 2. We are still in wave 3 of 5. My target for this case is $14.5. Here's why: a. It's the target for wave 1 and 5 equality. (Last blue wave 5 would be equalt to wave 1) b. $14.5 is a level of interest as it was the top in November 2016. c. It could satisfy the wave C target using the channeling guidelines (pink channel) d. I also noticed that price is reacting to the slope of a channel using the top of blue (A) of the larger red B wave. Check out the fib channel and how price has reacted to it. Even the overshoot hit the .236. Not sure why, but seems as though algos are reacting to something here. Take a look at where this channel intersects with the pink channel. You guessed it, the golden ratio .618. My plan is to wait for it to play out, and will be watching my indicators closely at the $14.5 area. If instead we break out of the C wave channel (specifically the TL joining the top of waves 2 and 4), I will also go long. This change in price behavior would let me know that wave C has completed. GL All! -ill
CLong
by derelict_dalmatian
Possible Consolidation/Trend Change On CRONCronos Group had a strong uptrend and maintained it for about a year when there was a lot bullish speculation around cannabis as more states in the U.S. began to legalize the plant for recreational and medical use. There were huge estimations on the total worth of the market, however, an estimation on any market will come with errors, estimations on the size of black markets are even more difficult to estimate as there will be a significant amount of errors due to missing data or due to proxying variables to substitute for the missing variables. In addition, the demand for legal cannabis varies dependent on the cost and quality of black market contraband. Once actual revenue started coming in for these companies and solid data, most investors left the space. The Fundamentals: As I am still developing my understanding of the financials of businesses, I still understand the balance sheet at a basic level, and currently, the business is still incurring a loss despite increasing its revenue significantly. At the early stage of businesses its not uncommon for them to take on debt, I am not sure on the exacts of the ratio a company should incur in debt, but this is something I will do more research on. The Chart: On the daily, it appears like the current movement is slowing down as the real bodies for these candles are shrinking, the current candle on the daily is a potential 3 candlestick reversal known as a morning star. If it reverses here on the daily, it is likely a reversal candle will be printed on the weekly. Another thing to note is that the price is currently at a level of support. On the RSI, there is a descending trendline and price action has been accelerating to the downside. It is possible to try a longer term position with the RSI trendline kept in mind as a possible area to take profit and such, but that event would take more time and possibly more downside to occur, once the morning star is confirmed a shorter term long position is possible.
NASDAQ:CRON
by CuddlyCuddles
CGC: On Extended Flat Correction in Corrective Grand Super CycleChart Watch: 7/13 - CGC is now more likely in a W(IV) double three that is going to end in a 3-3-5 extended flat correction. On the 3rd leg impulse wave down within the 3-3-5 flat correction, we are looking at a 3rd Wave extension. Scenario: 3rd Wave Extension: W3 is longest and can be any length. W1 and W5 are equal length (1.00) Status: IN PLAY W1(0) = 52.74 W2(1) = 44.17 W3(1) = unknown but look at Fib lines of support from Waves of higher degree = W(III) 0.5 support at 32.07 and 0.382 support at 25.66 But W3 length must be greater than W1 length if W3 extension Therefore W3(1) must be less than W2(1) - W1 length = 44.17 - 14.36 = 29.81 W3(1) < 29.81 = 25.66 or 0.382 of W(III) Fib support W4(1) = unknown but typically retraces 0.382 of W3 length = (a) IF W3 bounces on 32.07 Fib 0.5 support THEN W4(1) = W3(1) 32.07 + W3 length (44.17-32.07)*.382 = 36.69 = (b) IF W3 bounces on 25.66 Fib 0.382 support THEN W4(1) = W3(1) 25.66 + W3 length (44.17-25.66)*.382 = 32.73 W5(1) = uknnown but W4(1) - W5(1) = W1 length = 14.36 = W4(1) - W1 Length = (a) 36.69 - 14.36 = 22.33 = (b) 32.73 - 14.36 = 18.37
CShort
by dencor
Just Some Weed For Fun (TLRY)I primarily focus on cryptocurrencies, but since many are stagnating at the moment, I'm looking at some other assets for possible setups. If I had some extra investing capital right now, I'd actually enter a small position here. The market seems to be overreacting a bit, and TLRY is now at a prior resistance level turned support. If it can bounce here (ultimate oscillator is showing a potential bottom with a large divergence), Tilray can make an attempt to break the downtrend channel. If this happens, near term targets are around the $50 and $65 levels. You can see that clearly on this chart. However, if Tilray cannot hold above current levels, it can head easily to the $24 zone (next support). There is significant downside risk here, so a stop loss might be a good idea, if one were trading this. With stock market volatility at extreme levels, it's important to recognize the risk associated with opening short term positions (particularly on margin). I would expect current share prices to be fairly strong entries for the long term. Analyzing is just a hobby of mine. I am NOT actively day trading at this time. This is certainly not financial advice. When looking at equities, it's important to assess the whole picture and do diligent research. We shall see. -Victor Cobra
NASDAQ:TLRYLong
by VictorCobra
ACB Trendline Bounce TradeACB appears to be in a good buy spot here- This stock along with many of the marijuana names have been beaten up in the last few weeks/months. The price is on/near the diagonal bullish trendline it has respected for a long period. Although it is not the strongest of trendlines with only 3 real bounces. I do think the risk meets tbe reward here. Im looking at a trade just under 5:1. Close any weekly candle close below the trendline. Take profit at the moving average. If it breaks the moving average in a strong way I will update my price targets. Happy Trading :)
TSX:ACBLong
by andzd