YOLO trade ideas
Cannabis entering a bull market?After previously breaking out of a down trend and through the 200 day ema, the sector took a dive and formed a double bottom.
The double bottom, the retesting of the resistance level, the support of the 200day ema, and the recent high volume order blocks near current level makes me think we are setting up for a bullish break out.
The fib retracement shows that the next major resistance level would be at $9.
Throwing some fun money at it to have some fun with more portfolio as the cannabis sector can be quite volatile.
AdvisorShares Pure Cannabis ETF - $YOLO Chart AnalysisHIT IT OR LET IT SIT?
AdvisorShares Pure Cannabis ETF (YOLO) on the weekly chart shows dirty bong rips leaving long investors mad their not getting the high they want.
Not going lie, this chart made me scratch my head, until I brought the monthly candles and it started to make since as it appears who ever is shorting this ticker, must be working on a +T25 (*winks)...
MACD isn't showing any divergence, I would assume it is being held off until correction time, which could push a little confusion on the retail investors timing their entries or exits.
I would expect a small amount to still shed off current price action as I feel $7.53 will start to catch and likely start the semi correction and pivot before the last sell off, which as most cannabis stocks, looks to sell off end of May into the summer and reground in Aug. Likely seeing $6.37-ish
Momentum Attempting to Shift in Favor of Bulls in Cannabis Many Cannabis stocks have been getting beat down as of late with some down 35%+; At this point in time it would seem that many of these Cannabis stocks are in areas of value while showing seller exhaustion.
This leads me to believe that soon we will see an Uprising in many of the Cannabis plays we're all familiar with and possibly even see some of the undermentioned plays attempt a rally with them.
Because of this i think that this ETF so long as it stays above $20.50, should see much higher prices in the Mid term future.
YOLO...keep your FOMO under checkCliche candle patterns can be mis-spdcified.
In some cases if a market can probe the Limit Order Book deeply it can mean quite the opposite to what is wriiten...so hammer-like formations can signify further downside and weakness over several bars.
So just use limits and dont get sucked in on the upside.
Cup and Handle about to break on YOLO? New to analysis, roast meVery new to this and still a lot to learn, so any feedback is appreciated. Here's what I see...
-Classic cup and handle, ATH was hit on 2/10 and the dip started.
-For now it seems to have found support around ~26.38, but RSI and MACD seem to indicate that it's a little overbought, so I would expect more correction over the next week
-targeting ~24.85 if previous support holds and trend breaks upwards
-i'm talking out of my butt, but the pattern looks like it's there
did i get any of that right? =)
YOLO A CANNABIS ETF AS OF 2/12/2020What is going on with the Cannabis world? What is the general direction of the ETF? Let's explore the alternatives for YOLO.
Disclosure: I do not recommend buy or sell. This is just an opinion, not advice. Do your own due diligence a make the right decisions based on your financial situation.
YOLO on YOLO?YOLO contains a number of the holdings in some of the largest marijuana instruments. We should see tremendous growth over the years with increasing national support for legalization/decriminalization. A nice long cup and handle appears to be forming and if we pair that with standard fib extensions /speed resistance fan trend over time we get the following forecast.
Target Entry: ~$16-$18 between March and May
Target Exit: ~$31.33 - $39.26 by Dec 2021
YOLO - actively managed cannabis etfYOLO is an actively managed cannabis etf. My range by 2/19 is $28 low, $30.50 mid, $33 high. It's holdings are VFF, GWPH, IIPR, APHA, CGC, GRWG, GTBIF, CURLF, HRVSF, CRLBF, CCHWF, TCNNF, ARNA, RIV, CWEB, YCBD, GNLN, AH, VLNS, ANDA, NTEC, CRDL, ZYNE, LABS, PW, NEPT, CRBP, OGI, TLRY, HEXO, EMH, CRON, WMD, KHRN, FIRE, CBDHF, TGOD, ACB, ITHUF, TTTXX. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
An alternative way to play $GWGR and $IIPR. #420FA,
- 6.8% dividend
- $IIPR 10% weighting
- $GWGR 9.56% weighting
- Cannabis > alcohol
- Cannabis has the potential to disrupt big tobacco
- Lower stigma + more acceptance in society
- Gary Vee
TA,
- Reversing long term downtrend
-Daily MACD cross
- Short term moving average crossover
Nice play to get exposure to $IIPR and $GWGR.
Let's go 'Higher'.