Applying EW to recent WEED price actionDisclaimer - first time applying EW and I barely know what I'm doing.
Weedstocks
SMG 90/95 bull call spread With the July contracts, a 90/95 bull call spread can be placed for a debit of 3.97. This places our break-even at 93.97 on the July 20th expiry. The max profit of $102 per contract occurs above the upper strike of the sold call at 95.
We are bullish on both the technicals and fundamentals of SMG. The multinational corporation, known for its consumer fertilizers and pesticides and new expansion into hydroponic equipment for the marijuana industry, has been trading in an up-channel. 2019 Q2 earnings beat estimates, with EPS of $3.64 (.22 above forecasts) and a top line of $1.19 billion (greater than the estimated $1.16 billion). The biggest growth opportunity is in its Scotts' Hawthorne subsidiary, which provides various products (hydroponics, fertilizers and lighting systems) to the cannabis industry.
cron update 19jun2019 @cryptokneeupdating long term... biggest taint tickle comes from seeing these long term charts have reactions to analysis done days,weeks,months ago... the tickle is prolly hindsight kicking me in my taint. Dat bottom right channel doe!
Vff 19jun2019 @cryptoKnee nasdaq bear count.. I feel dirty even using an XYZ cause CT loves to over and wrongly using it, but i may be the count. potential 2x ZZ setting up, fibs and sup/res kinda near each other, need more clarity. No BS ive been seeing alot of .786 in MJ.
IIPR 17jun20189 @cryptoKneeits gone full ATH bulltard, extensions are tough to keep track of, dangerous entries IMO but risk could be rewarded. Youre either attempting a knife catch or risk getting dumped on... a reasonable person would wait for some LH and LL..
cura update 17jun2019 @cryptoKneeReaction! The PA is not quite in the fib projection for a fif so 1 more leg down would not surprise.
$Cron Feels Good!Resistance ~ $20 - $21
Support:
Trend Line
EMA 20&50 Lines
Enter ~ Whenever the price touches the trend line
TP 1 ~ $21
Stop Loss ~ $14.5
GL!
$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.
Tilray Inc. Primed and ready. Neptune partnership timing?I have been watching Tilray for the past couple of months now. It has finally hit my buy zone. Currently finding support for the second time off of July 23, 2018 high. We have a nice hammer reversal on the daily. RSI is trending up. Today the announcement of the Neptune partnership and the timing of the charts is the perfect catalyst for a reversal.
Resistance 1 $44-$50
Resistance 2 $62-$70
With the adoption of Cannabis in the US this could retest its ATH in the next two years. I can easily see Tilray be $100 by the end of the year.
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.
Charlotte's Web heading for support or resistance?1) Trending downward on daily and weekly. Likely heading south for support at two step levels.
2) Oscillators poised to signal bottoming out RSI, MACD, Stoch
3) Consensio - bearish on all time scales, waiting for the flattening out of the moving averages
4) If market trends downward could drag it down toward step 2.
5) Waiting on entry point and watching for an opportunity is one exists?
$CRON: Long term swing trade (1-2 year hold)Disclaimer: This trade is only for the patient.
- After a few weeks of consolidation, a safe entry can be initiated.
- Weekly cloud is thick in volume showing bullish trend is intact.
- $CRON has significant advantage over their piers having a helping hand from $MO (Altria). With their cigarette distribution system, 1.8 billion investment & connections to more potential partners, $CRON is set to go to the moon.
An analysis, not financial advice.
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
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
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! :)
$CLI enters the hemp growing marketCLI recently transitioned from an ag-tech company to one about to start growing 500 acres of high CBD hemp. With an EV of ~10m and a crop target value of several times this the companies future looks brighter than ever.
From a TA perspective there is a target at 5.0c based on prior resistance
This beast is ready to roar again!looks like Cron is gaining energy again after a low volume pullback, so watching a break of that wedge to go long again.
