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Weedstocks

Opportunities on the weed sector | CRONCronos Group, Inc. engages in the production and distribution of cannabis. Today we will take a look at the chart, and we will define what's the scenario we are waiting for before trading. Between 4 to 5 dollars we can see a support level that has been working since 2018. That means that we are in an interesting situation regarding a historical low from where we observed MAJOR bullish movements starting from here. But what is the plan for this? As always, my answer comes from observing past behavior, and in this case, what I can see is that in the previous 2 scenarios we had clear Flag patterns corrections before the big event. So the plan is straightforward: I want to observe a flag pattern or any type of correction with similar size and duration before thinking about risking 1 dollar on this stock. An important aspect when you trade like this is that you can not force the market to provide opportunities, the only thing you can do is get ready for when the market decides to make the formation you want to see. PATIENCE AND PATIENCE The place where I expect to start observing the flat pattern formation is around 8.20 that's the zone where the short-term bullish impulse found a minor resistance and the consolidation started in previous scenarios. (This may be useful for short term traders) Thanks for reading! Feel free to add any idea regarding the Cannabis sector or views about this chart.
NASDAQ:CRON
by ThinkingAntsOk
8
Is weed ever going to be a good invesment??This ETF is one that I know is actively managed and obviously no one knows when exactly is the right time to invest but we are nearing a support level and also the 786 fib retrace.. I am watching MSOS closely because as time goes, I would like to have a position in the space if buyers come in. I just dont know when is the right time.. perhaps watching this downward channel for a break? Maybe slowly adding on drops? You decide. Happy trading.
AMEX:MSOS
by ChartFood
4
Is MJ about to get high?Marijuana stocks have been on the decline for a while, but things may soon start turning around. Last month, the House Judiciary Committee advanced HR 3617 or (MORE) Act of 2021, a bill that repeals the long-standing federal prohibition of marijuana by removing it from the Controlled Substances Act — thereby ending the existing state/federal conflict in cannabis policies and providing state governments with greater authority to regulate marijuana-related activities, including retail sales. What the MORE Act Does: The legislation’s provisions remove marijuana from the federal Controlled Substances Act — thereby eliminating the existing conflict between state and federal marijuana laws and providing states with the authority to be the primary arbiters of cannabis policy within their jurisdictions. If passed HR 3617 would facilitate the expungement of low-level federal marijuana convictions, create pathways for ownership opportunities in the emerging regulated industry, and allow veterans to obtain medical cannabis among other things. Source I chose MJ to gain exposure to the global cannabis industry. AUM: 1 Billion TOP 10 FUND HOLDINGS (%) Grow Generation Corp: 9.66 Tilray Inc: 9.43 Canopy Growth Corp: 7.80 Aurora Cannabis Inc: 6.61 Cronos Group Inc: 6.42 Hexo Corp: 4.76 Organigram Hldgs Inc: 4.20 Village Farms Intl Inc: 3.92 22nd Centy Group Inc: 3.46 Arena Pharmaceuticals Inc: 3.26 Prospectus Fact Sheet Holdings Technicals Price action and RSI diverging for the past three months with PA finding support at about $14.00 since the bill was advanced RSI moving to potentially break above 50 and could correspond to a breakout of the descending wedge Price holding at about the Fib Extension level of 61.8%, will watch these levels closely as PA advances or declines The Trade With confidence that there will be further potential bullish sentiment for the cannabis industry on the horizon, I will be preempting a breakout and taking a position at current levels. Bull Case TP1 set at about $17.50 TP2 set at about $25 Anticipate resistance at about $16-$17 Will be watching price action closely below the $17.50 region as a substantial pullback could fill out a possible right shoulder of a head and shoulders pattern before retesting trend line and breaking low. Bear Case Price action rejection at resistance level at around $15.50 could push price down and make lower lows on the daily chart If a price drop occurs, I will be watching for support at around the $13.50 region or Fib 50% level Will look to exit position if weekly close is below $13.00 with RSI levels pushing down to or below 38.2 Approximate risk of loss on trade from current levels is about 12%-15%
AMEX:MJLong
by spreck
3
Weed Sector Capitulation and Accumulation (MJ) What's going on with weed stocks?? There are justifiable claims that some of these companies could still be overvalued. However, despite declining price, On-Balance Volume remains relatively high compared to what we saw during the last major downward swing between March 2019 and March 2020. This could signal accumulation. Additionally, the UO (ultimate oscillator - red) shows a bullish divergence on the daily chart. People who own weed stocks know they need to be patient. The more capital and wealth one has, the easier it is to be patient. This drives accumulation by wealthy entities. I've noticed signs of emotional capitulation by retail weed stock owners. Sentiment is truly awful. Meanwhile, price is just barely sitting on a major horizontal support level. Interestingly, MJ didn't start to truly bounce from the 2020 lows until Bitcoin started to make its rally towards all-time high last fall. Does the weed sector follow once more? Below here, and the next support isn't really until around $10, so I see this as a pretty fearful moment in this sector. If it gets down to those lower levels, perhaps I'll purchase more. I'm not really in any hurry. Even in a financial crisis, weed will not lose demand. In fact, as mental health issues increase, so do coping strategies such as smoking/using weed. The weed industry also involves the stable price of a good. Goods and services won't go anywhere in a financial crisis. Weed is a particular kind of resource, so I think it will trade differently. This is part of my reasoning behind my own accumulation. I guess we'll see! If MJ can bounce hard from these levels, I think it can complete a longer term accumulation process and begin to exit the trading range. This is not financial advice. This is purely for speculative and entertainment purposes. -Victor Cobra
AMEX:MJLong
by VictorCobra
3
ETF Picks For The Next 5 YearsI don't post about stocks or ETF's very often. I got into investing via crypto - and my intention wasn't necessarily to make money either. I had lost faith in the current model of our banking system, and became inspired by what I saw as an alternative. That alternative also ended up being a good financial decision. Ironically (I say this because most investors and traders own a smaller percentage in crypto), my stocks only make up around 2-3% of my portfolio. There are two reasons I've begun investing a little into the stock market (mostly via ETF's) since I pulled my inital risk from crypto: 1) I'm testing to see if my strategy for crypto (buying into fear, dollar-cost-avergaing, and being extremely patient) will work with regard to the stock market, and perhaps benefit me financially. 2) I genuinely support the marijuana industry and the clean energy industry. Yes, nuclear is considered to be "clean" energy. I picked nuclear because it's flying under the radar, at least in terms of what's "hot" right now. Looking at the weed industry Weed is currently a $60 Billion industry. That's actually larger than Tobacco. So, is it still undervalued? I think yes, since tobacco has significantly fewer uses. But let's look at something that's more widespread AND less healthy: Alcohol. The global alcohol industry is worth around $1.4 TRILLION. With that in mind, I think it's fair to assume weed can eventually become at least half as big. It won't be consumed in such large quantities, but I think the uses and applications for it will be quite widespread. What does this mean? It means the value of the Weed sector can grow at least 10x, and it can happen over the next decade. The $170 target is shown on the chart. However, MJ is not in a bull market yet. Despite this, I have been adding slowly. My trendlines show that this could be a decent place to buy. Horizontal supports are also outlined. Looking at Nuclear The safety of nuclear power facilities has dramatically increased. Interestingly, URA had been in a severe slump since the Fukushima incident. URA ultimately found a bottom, and is now in a bullish trend, with a golden cross on the weekly. I'm targeting all-time highs. The first big pullback is underway, after the recent incident at the Chinese nuclear facility. My first entry was near $15, but I am slowly buying dips. I also added a small URNM position, which comprises companies that hold physical Uranium. It may perform slightly better. Of course, I may be wrong. This is why I'm buying slowly and cautiously, rather than piling in all at once. That seems to work with the slow-moving stock market. I also have invested a little into some other clean energy sectors: solar, hydro, and wind. Let's see what happens! Certainly not much fervor surrounding these ETF's at the moment, but it's always best to prepare, rather than react emotionally. Definitely learned that from crypto. This is not financial advice. This is for my personal record, speculation, and entertainment only. -Victor Cobra
AMEX:MJLong
by VictorCobra
2
TLRY: Time to get high?Just bought Tilray🌿 stocks @ 12.22, currently at trendlines & previous significant high confluence. Price needs to break up the red falling wedge. Target 122 which means 10x. The blue uptrendline on log scale (imo false break down) and also higher volume this year shown below: Please like👍, comment🗣️, follow me✒️, enjoy📺! Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence. NASDAQ:TLRY TSX:TLRY CAPITALCOM:TLRY FTX:TLRYUSD SIX:2HQ NEO:TLRY SWB:2HQ XETR:2HQ FWB:2HQ MUN:2HQ HAM:2HQ HAN:2HQ BER:2HQ FTX:TLRY0924 NASDAQ:NDAQ OANDA:NAS100USD CURRENCYCOM:US100
NASDAQ:TLRYLong
by bizmark
2