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Weedstocks

WEED - Double Top or New All Time Highs?We have seen some very bullish action in Cannabis stocks recently. With the Trump administration signaling less regulation and Canada legalizing it for recreational use, there seems to be nowhere to go but up. If WEED is able to crack strong resistance here and break above to new all time highs, I think this would be an excellent entry for a long term investment. Note that the WEED broke to the upside of a rising wedge, which is usually a bearish pattern, but in this case I think it only emphasizes how strong the bullish price action currently is.
TSX:WEEDLong
by ttrending
The weed bubble is coming?There's some nice price action around the weed markets right now and Harvest One is no exception. The most obvious signal here is the RSI divergence forming right now. The price is settling way below ATH, and it needs some retracement upwards! Let's see if we will have a cannabis craze across the board. This is once again a low risk trade like the one I'm currently holding in Aurora (Check it out!). This is because of the buy indications on multiple timeframes looking at the indicators. I put in some conservative levels for the careful trader. A conservative buy would be above the yellow line, with a tight stop according to taste. Fib levels above are targets as usual. This is quite a new stock so the resistance levels are quite clear. The Ichimoku is just waiting to show some level breaking and support forming above this price. The cloud gives little resistance so after a smaller breakout, it's touch and go! Not financial advice though.
2Long
by RoyalOakFI
A little hip on the dip Legalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares. Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of shares doubled in value. It went from $0.68 to 1. 30 in 2 weeks of time. This is more like short term holding situation and it can continue to drop a little bit more. A few big buyers at the mark of $0.70 but a lot more big sellers around the range of $0.71-0.73. HIP.
HShort
by secondroundko
A little hip as it dipsLegalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares to raise more money . Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of shares doubled in value. It went from $0.68 to 1. 30 in 2 weeks of time. This is more like short term holding situation and it can continue to drop a little bit more. A few big buyers at the mark of $0.70 but a lot more big sellers around the range of $0.71-0.73. HIP.VN
HShort
by secondroundko
WEED Inside Daily Bars & Tightening Range - Break ComingWEED, after the all out dump last week is starting to show some positive signs again. As good news builds up with this company and the sector as a whole (licenses, mergers, good financials etc.), and stocks show little movement, I think we're getting ready for another bull run likely into the June vote. The last three days WEED has shown inside bars, a bullish sign, couple that with the long-term tightening range, room to move on the daily RSI, holding above the 50EMA for the past 5 days, and decreasing bear volume - I expect a solid start to next week, and a break. I'd like it to return to our very long term trend line (shown in light grey), but that may be a little ambitious for this week. I'm hoping for a move beyond $32.
TSX:WEEDLong
by DuncanMcGillivray
IIPR Very Loose Uptrend VisionJust looking at the short time this stock has been public, and just looking at how crazy scattered the 4hr candles are (not much better on any other small time frames, too few candles on larger ones) I know that I am "throwing lines on a chart" here in almost the typically derogatory way. But this is mostly a framework for me. I have been in this since almost the beginning, and I was really intrigued to see how it behaved on the correction after the presumed New Year's boost it would get from weed legalization in the companies operating state CA. Thankfully, they were able to pull out a much higher earnings than was projected for the first quarter of 2018, and this has helped them keep that momentum going. With a little emotional bias I am calling this a long, though my rational self would say its too hard to tell. The longer the candles linger at those horizontal lines, the more "evidence" they have that this is a true horizontal support/resistance. The more bounces off or, crosses followed by corrections of the channel line are similarly indicative of the correctness of my "shot in minimal light" so to speak. It's the nature of the game with young public companies. MOST IMPORTANTLY WATCH THE BOTTOM CHANNEL LINE. A continued break below this (over 12hrs, I am selling 10% and watching out) may mean my emotions got the best of me and this uptrend is way to generous. Will always keep a little, but will take profits if I see it heading towards a sideways or downtrend. I am the stupidest person I know and none of this is investment advice.
NYSE:IIPR
by poetichigh
Cannopy Growth Stock Will Increase AT ANYTIME3 months ago, the stock increased tremendously. On the other hand, we cannot worry because the price for the stock when down. Remember, the legalization in Canada is on June and the company already created some partnerships with other companies in order to have more fields. Then, the profits will increase massively! Therefore, in order to make profit with this stock, you have to wait at least 3 months. Be patient because on June and July, the stock will blow up.
TShort
by WalterKing617
VFF Healthy consolidation. No matter how fundamentally strong VFF Is and how solid their execution is , the overall volatility and psychology of the cannabis markets will effect share price. Personally I believe VFF to be very well positioned, in a strong position financially and their operational plans are on track for 2018 and 2019. Short term VFF is in for a tough battle up, overall bulls seem to be exhausted and the bears have been exerting some serious selling pressure both on VFF as an individual stock and the Canadian cannabis market as a whole. From a technical analysis standpoint VFF has immense potential to retrace back to previous highs and maintain them, this would require the bulls to pick up steam. I'm looking for industry wide catalysts and also VFF specific catalysts to move this stock. My time frame for the retracement back to $8.50+ is 2 months
VLong
by navpowarr
Aurora's neck is broken. Indecision Volume.Sometimes breaking your neck isn't always a bad thing. After a fairly large consolidation after that inverse head and shoulders pattern, we can see from the 4h chart today, ACB is logically following suit with WEED , just cracking the neckline (indicated by the purple line) and waiting for that second confirmation above. The shadows of both candles just barely touched the resistance line at 12.00. The combination of these two factors means that we will probably see a hesitation, which generally happens after the neckline is broken with any sort of volume influx. Support was raised to ~10.60, stop loss is at 11.30, in case it decides to form a head and shoulders pattern and come back down to retest where the MACD's meet new support, but it is looking like we may close with indecision. Thank you for viewing my charts!
TSX:ACB
by BTCanadian
1
These WEEDs are out of control!After a brief pullback at the neckline, this Monday is showing up with some serious numbers! The support lines, as well as the downward trend line has moved up as we rocket through resistance, landing right in line with the arrow that I had indicated on the chart before last. When you approach a neck line like the one that we have just crossed, you should always be weary of a little pull back. Flying past 31.00 and almost clearing a whole retrace zone in one day, we approach new resistance, it can be anticipated that we will confirm new support when we close above, for the second time on the 4h chart. This may also be forming a head and shoulders or W pattern, where the top of the head will be will be at the resistance line. If it bounces off the next resistance hard at the 61.8% retrace, it might come down to complete that pattern, landing where the 8 day line touches support. Let's see how tomorrow plays out, if it does like it did today, it shouldn't take much to hit ~36.00. Thank you for viewing my charts!
TSX:WEED
by BTCanadian
1
Bounced off resistance unexpectedly.Unfortunately, we didn't even close above the 0.5 re-trace, bouncing off the resistance pretty hard. Generally, closing with no shadow on a that big of a green candle would indicate an increase. There was definitely buyer volume coming in, although not quite as much as 02-05-2018, but we can see that the market opened with a giant shadow at the bottom of the candle. This indicates to me that there was most likely some whales that were waiting at that resistance/re-trace and took profit on that giant spread. I was hoping that something like that wasn't going to be the case. This is why the use of stop loss is vital, and to respect support and resistance. The Bloomberg article published yesterday that essentially called out the valuations of investors, probably didn't aide in new conviction. I have added a new green trend line to indicate a slightly more sideways channel we are in. It is to early to determine if we are going to see a head and shoulders pattern that could take us above resistance. We are still looking good long. For now, it appears as though we may work our way down to re-test the support area, indicated by where the blue dotted lines intersect the 8 and 13 EMA's. www.bloomberg.com Thank you for viewing my charts!
TSX:WEED
by BTCanadian
Don't get high on your own supply-Huge news for Tweed getting go ahead on 1.3 M sq ft greenhouses in BC -Rec. stores in Manitoba -Speculation of NASDAQ listing -Increasing bullish volume on the daily chart -Bullish MACD cross -Could be a "laggard" to MJN?? -Currently holding WEED overnight and hoping for a significant gap up, causing RSI levels to get to extreme highs on the hourly and shorter timeframe charts. IF this happens, I'll look to sell (likely right at open) and re-buy in (looking for a possible bounce off the $30.00 lvl) using 1/5 min chart RSI indication for an oversold bounce right after exiting. Lets hope this is the start of a very nice break out to, dare I say, all time highs???
TSX:WEEDLong
by killercoady
Am I seeing things?Wow 9.54%! We absolutely blew past any form of futile resistance that I thought may have held us up a bit, into the 0.5 Fibonacci re-trace zone, waiting for an almost guaranteed close tomorrow to confirm above 29.50. I'm moving the support lines up faster than I can buy. The bulls are in full force with no sign of a flag, and even though I've drawn some measly resistance that we could stagger at, the volume right now is just to massive for me to believe that we will be stopped dead at 31.00. Today closed with essentially no wick, so tomorrow, hopefully we can make it there and past. I haven't seen a breakout like this since "The Shawshank Redemption". Thank you for viewing my charts!
TSX:WEED
by BTCanadian
4
Broke the looming down trend channel.We are holding a steady pace upward, exiting the downtrend finally, with a head and shoulders pattern finishing above the 0.236 retrace and past the downtrend channel. Closing in the red, just below the resistance line, it will be interesting to see if the H&S was a true indication of a bullish trend forming, or is that a bull flag I see directly after it? Confirmation above the resistance line at 20.09 and it should be pretty clear at that point. If it doesn't confirm, it might have been a bull trap, and it will probably re-test support at ~18.75. Hopefully we can make it past and collect the spread until the next stop at ~23.80.
L
by BTCanadian