Up In Smoke - MJ burning downA great 2x inverse ETN for this recession is MJIN, which is opposite of MJXL. By early morning of June 8, SMG reported less expected FY22 earnings, sales & profits. This largely affects weed ETFs due to heavy use of their products for growing, as we can see the spike here shortly after the news broke. In this case, due to rising inflation across the economy, most cannabis users will likely go underground to unregulated markets to find somewhat cheaper MJ. So take this ETN & get high.
Weedstocks
Villarge Farms VFF to $22Every time it hit this demand level in the past it shot the price way higher, I'm looking for the same here and think pot stocks are ready for some serious gains looking at the charts.
TLRY BullTlry is coiling like crazy rn. a big move is expected, and im pretty confident it will be up. I grabbed a couple 4.5 6/3 calls and im targetting around 5 for my sell. This is kinda a yolo, but I think Biden is gonna say inflation is gone and everyone will be happy again. Maybe biden will legalize weed by friday. then ill be RICHHHH
Double Bottom at PCZ of Bullish SharkBuying here in anticipation of a Potential Bullish Shark Confirmation Low.
Akerna Corp - Kern to $3 Really loving the ganja stocks maaaannnn. Went on /r/weedstocks 238k subscribed 343 online 😂it's a ghost town and the charts looked bottomed. Scaling into $KERN - Every time it hit this trendline a little lower at .59 it went up 300%, first target $3.4
HEXO Daily Bear Flag Target of $0.40 USD Has Been Met - OversoldHEXO daily bear flag target of $0.40USD has been met using the log scale. I just filled my buy order that I had set at 0.40. We are also daily oversold and SPY hourly RSI is in the low teens. Expecting a big bounce in the broader market after Elon buying Twitter confirmed. Big move incoming for HEXO and MJ in my opinion!
Marijuana Market Outlook - Pot ($MJ) Forecast More downside till mid $5 range before the start of a new uptrend.
Double bottom possible post squeeze or straight rip up!
TLRY ThesisI have a bullish bias on TLRY. With the pending approval of federal legalization, we could see a huge increase in valuation. Not only am I fundamentally bullish, but I am also technically bullish. It is sitting at the golden pocket Fibonacci retracement level and could see large order flow coming in soon. Overall, seems like a good investment. As usual, this isn't investment advice. Do your own DD and risk what you're okay with losing.
Bullish Bat with Double MACD Bullish DivergenceWe have Bullish Divergence on the RSI and 2 Instances of Bullish Divergence on the MACD at the PCZ of a Bullish Bat Pattern on the Daily; the Moving Averages are beginning to curl up and the 4 hour is testing sitting at the moving averages at the Neckline of a Double Bottom at the time of posting.
Morning Star Bullish Bullish MarubozuWe have a Morning Star and the Bullish Candle happens to be a Weekly Bullish Marubozu and it is showing Bullish Divergence and the MACD and RSI nearing a Breakout of a Parallel Channel if we get continuation in the coming weeks given the MACRO in the sector we could see something big happen here.
Pot Stocks Breaking outAfter a long downtrend, pot stocks break resistance and start to form a new uptrend.
SNDL confirmed bottom with Classic Bullish DivergenceSNDL finally putting in a higher low. We got that Classic Bullish divergence and now it appears SNDL has backtested weekly support as support yet again at $0.46. The chart is saying we're going to get some sort of rally. Keeping the stop loss below that previous low around $0.40 makes sense when SNDL can easily go on a 50-200% streak in the next month or two...or it could fail. Keep emotions in check on these weed stocks.
Entry: $0.50
1st Target: $0.92
2nd Target: $1.10
3rd Target: Moon
Edit: Ignore the white line on the RSI, that doesn't have anything to do with my trade setup. The MACD is the classic bullish divergence.
SNDL - Day of reckoning coming for weed stonks? Weed stocks are having a great week so far and I don't think the fomo has kicked in yet.
SNDL is breaking out on weekly into the new channel and can squeeze higher above a dollar. I think this will continue running into month/quarter end and potentially 5-7+ dollars into Q2.
This entire sector has been beaten down for years as money has shifted into tech and growth. As the Fed tightens, people will look to value vs growth and this sector is at/near all time lows. Risk to reward is a no brainer.
Aurora Cannabis (USA: $ACB) Ready To Get High! 🌿 Spring 2022Aurora Cannabis Inc. produces, distributes, and sells cannabis and cannabis derivative products in Canada and internationally. It also engages in facility engineering and design, cannabis breeding, research, production, derivatives, product development, wholesale, and retail distribution activities. The company produces various strains of dried cannabis, cannabis oil and capsules, and topical kits for medical patients. It also sells vaporizers; consumable vaporizer accessories; and herb mills for using CanniMed herbal cannabis products, as well as grinders and vaporizer lockable containers. In addition, the company engages in the development of medical cannabis products at various stages of development, including oral, topical, edible, and inhalable products; and operation of CanvasRX, a network of cannabis counseling and outreach centers. Further, it provides patient counselling services; design and construction services; and cannabis analytical product testing services. The company's brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, Woodstock, and WMMC. Aurora Cannabis Inc. is headquartered in Edmonton, Canada.
CGC Long at Double BottomSorry I've been away for a while. Back to the charts.
CGC is showing seller exhaustion on the Daily on the MACD, indicating either potential trend reversal or at least a relief rally. It's also down so much that there is ridiculous upside and comparatively smaller downside. I may turn this into a position trade if the market dictates it, but my expectation is a swing trade for now.
Entry: $7.10
Stop loss: $6.30
Targets, see chart.
Weed stocksTLRY, CGC, SNDL, ACB
So far this year looks like the weed stocks have found a temporary bottom. Most are curling off the bottom. TLRY has lots of resistance above but last few days has been pushing with increasing volume. Just keep an eye on them if they really start squeezing. Most likely will be looking at some calls this week to see if we can get some follow through. Of course it has been in a nice downtrend overall for over a year but I do like what I have seen last few days.
Tilray - Time for a rocketChart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 6.25 USD
SNDL gets pep in its stepNot a financial advisor.
SNDL has been dragging along in the market. It needs to reach compliance - with the markets shifting green we could very well see the much awaited spark here.
3 white soldiers reversal up will solidify that run. It would certainly attract more investors.
This is a high risk play - But one I'm willing to make.
Momentum is shifting back.
RSI turning up
MACD & TSI looking to cross soon.
All of which indicates bullish moves to come.
One to keep an eye on for the month of Feb.
Who knows, maybe Weed will be legal before 4/20 - would be great for business.
% 60 wORsT cAsE oNTAriO AVNT rip coming, dont say I never told uCannabis is back on the menu. This stock has been oversold for a while. The trend is broken and a rip is coming. The hedgies algorithms have been pushing low cap stocks and meme stocks down for quite some time. They used everything and the kitchen sick to dip below support levels. The time is now to cover and don't say I never told you. The rip at will likley go beyond 60%
NVEE: CUP AND HANDLE BREAKOUT WATCHNvee :
Cup and handle.
Long above 108.5.
Stop below breakou t candle.
Target on the chart.
Trade safe!
Chronicle Logical GainsFound this beat up old emerald mine collecting dust. Time to keep those puffy eyes peeled for the imminent breakout. For starters there is a classic diverging MACD tilting upward into price decline.
Now taking a look a volume it's clear where traders have come in before. More often then not these levels are reactive so could be a move coming. Should that break lead to the next rally then there is a nice 100% gain to be had at the target above
In addition the weekly chart shows momentum starting to curl up and there is another level to mind
SNDLI like SNDL at .50c but I'd love to buy sub .40c that be a great entry into 2022 MJ sector will be on fire next year IMO
$TLRY is looking for a Pump!$TLRY is looking like it is getting ready for another pump once it breaks out of current trend.
My points being....
1. Strong Bullish RSI Divergence
2. The Old Supply area is acting as a New Demand level as seen with the red arrows
3. TLRY is creating a Falling Wedge Pattern which is known for being a bullish continuation pattern
4. The ATR is in an uptrend which means TLRY is gaining volatility. This is very important for breaking this wedge pattern.
My key resistance levels are listed.
Trade at your own risk and always buy/sell after a clear breakout and/or retest of the old trend!
Trade safe!
