CANNABIS STOCKS BULLISH TREND INTO 2024The president of USA has issued a pardon for marijuana use nationwide. This is bullish and can start a new trend into 2024. Weekly breakout since bearish downtrend 2 years ago. Comments belowCLongby SpecuVisionary1
High on Pot!Happy Saturday to all traders! I Respect the GRIND. Today I happened to take a look at Cannabis and the chart looked fantastic, let me know what you think: 1) Cannabis has been in a rising wedge pattern, which almost always shows a upcoming breakout. It is also at the end of the pattern, so it should happen soon. 2) Secondly, 20 day SMA crossed above the 50 day. Also called the 'golden cross,' it shows the asset has been on fire recently and is starting to turn up. 3) Most importantly there was a very large RSI Bullish Divergence from July to October. This occurs when the price is falling, but the Relative Strength index is rising, which signals growing momentum. Using this, we can infer that Cannabis is reasonably oversold. 4) Lastly, as an add on, I included the Parabolic SAR. As you can see, the SAR dots are still under the price, which has occurred from the beginning of September. This is very incredible because it has not significantly dipped for months! Therefore I am long on Cannabis, and hope you agree! Thanks.Longby SmartVest2
CANNABIS Technical AnalysisHey traders, in the coming week we are monitoring CANNABIS for a selling opportunity around 1950 zone, once we will receive any bearish confirmation the trade will be executed.CShortby JoeChampion111115
A clear pullback scenario for the cannabis industrySeeing the growth and innovation that has occurred in recent months shows that the big wave is incoming. This formation clearly refers to pull back and bottom. Even one of the most conservative countries of Europe; Poland has given the Market Authorization to Tilray, Inc. (TLRY). Also, the election vibe has been taking charge of global media, federal legalization would be the starting point of new stoned FOMO. CLongby muratcan.koylan1
Cannabiscannabis industry, which is expected to hit $billions in sales. Trends looks to be switching up, Look for the best Cannabis stocks maybe?CLongby SpecuVisionary0
Buying Cannabis. Trading stocks, too. We've now gotten finally down into the long term support level on this. We might be set to see a rebound in the weed market. CLongby holeyprofit114
FXCM's Cannabis Basket's hourly showing potential momentum pushFXCM's CANNABIS basket is in the bullish area on the daily chart on the left. The hourly EMAs and stochastic are in bullish mode and potentially align short-term traders with the daily. The stochastic has moved into the upper quintile, and maintenance of this level (blue arrow) increases the chance of a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop under hourly support in conjunction with risk management techniques.CLongby FXCM114
Cannabis Index - Overbought, Looking for Retrace Before EnteringI have just closed a very profitable long on the cannabis index. This can only go up in the long run but I had to secure the profits. I am looking for this to retrace to between 0.5 and 0.618 Fibonacci before entering long again. It is very overbought on RSI across all timeframes so a correction needs to happen soon. Long term this will break all time highs (these do not show on this chart). Cby olly484
Cannabis Futures I don't own any cannabis futures but I've been following this sector closely. I think its flagging before another move up.Cby fissh_2