Potential Massive Double Bottom. (CANN)Looking at major s&r levels on general cannabis Corp otc pennystock.
I will throw a couple of shares in the portfolio on a potential support play. Just a buy and hold small diversification and I'll forget about it. If respects levels we could probably get a pop up towards $1 - $1.25
My indicators are not providing a buy signal, just a potential support play.
Sometimes you just feel like rolling the dice 🎲🎲
Longterm hold. Diversify! Never go all in, especially OTC Markets!
CANN trade ideas
General Cannabis Corp. on Alert General Cannabis Corp. is a holding company, which is engaged in the provision of lease growing space and related facilities to licensed marijuana business operators. It operates through the following segments: Security, Operations, Consumer Goods, and Investments. The Security segment provides advanced security, including on-site professionals, video surveillance and cash transport, to licensed cannabis cultivators and retail shops. The Operations segment offers consulting services to the cannabis industry that include obtaining licenses, compliance, cultivation, retail operations, logistical support, facility design and building services, and expansion of existing operations. The Consumer Goods segment includes pursuing relationships with non-cannabis national and regional apparel retailers and distributors, as well as expanding product line nationwide within the cannabis industry. The Investments segment includes expanding portfolio of loans, potentially launching a loan origination and servicing business, and investing in high-growth potential companies within the cannabis industry. The company was founded on November 12, 1987 and is headquartered in Denver, CO.
Updated chartHey guys,
It's been a while since my last post. CANN is having a hard time breaking this top trend line, but it is also having a hard time breaking through the floor of the bottom trend line. I would place a trade on this soon, or you could wait until we either A.) Breakout from the top line, or B.) Bounce off the bottom trend line with support. If we break through the bottom trend line, I would be careful.
Waiting for the pop flyHi guys,
CANN is looking like a nice buy. It is obviously volatile, and I would use proper risk management if you are going to long this stock. We had a successful bull flag pop and are waiting for this bull pennant to pop out. When it does pop, it will most likely shoot up quickly. Keep an eye on CANN. Happy trading!
About to Break Resistance, Same Industry Group As CBDSWeed stock are on a roll right now. CANN and CBDS have always followed each other. Big volume spike, and with TLRY and all the big names in the marijuana sector on fire, speculative fervor will transition into the smaller names. For the most part, though, I like this as a sympathy play off today's CBDS move
Another upward wave coming?Today Cann got back over the 50 day SMA. I got the stop loss near $3 and sell target $7.50-$9.50. November should also have a very large wave, so keep your eyes open. Overall we're in an uptrend for 3 months. Beyond that January gets a pop and April. MJ has developed seasonal runs.
Comparing US MJ to CANN MJ for first day of legal sales - logFirst day of legal sales in Canada is Oct 17 (AFAIK) so comparing to the first day of legal sales in Colordo (1 Jan 2014) is a good idea.
Green line here shows the week of legal sales. Price ran up into it (similar to the action we're seeing in CANNMJ now ) and it didn't stop once sales started.
This is for all the bears in the Canadian MJ space. Watch out.
$CGC $WEED $CRON $APH $ACB $TGOD $TLRY
CANN - The one stop shop for legal weedWith General Cannabis Corp. (OTC: CANN), you are investing in the end of marijuana prohibition with a company that quite literally does it all.
This Denver-based firm is like a weed mutual fund.
It offers real estate and consulting services, dispensary security, and financing for cannabis companies. It also supports cannabis companies with brand development, product design services, and more.
General Cannabis also grows cannabis for its own sales and helps new producers get started in the business.
The company already has major clients in several states and is perfectly positioned to profit from the 15 states set to legalize marijuana this year.
Anybody looking to enter the cannabis business at any level may have little choice but to do business with the firm.
The security component of General Cannabis’ operations, Iron Protection Group (IPG), represents a compelling opportunity.
You see, as long as federal cannabis drug statutes remain inconsistent with state cannabis laws, most banks – especially federally insured ones – refuse to handle transactions from cannabis retailers and growers. Those cannabis operators have been forced to rely almost exclusively on cash to transact business.
And that’s left a tremendous need for security, which is where the IPG comes in.
While banks will likely eventually start accepting commercial deposits from weed companies, a growing number of cannabis-based enterprises will still need to secure their stores and move their cash. And agricultural security, especially for highly remunerative strains, will remain a challenge for growers and a serious long-term growth opportunity for IPG.
So right now, IPG’s business is tied to the planting and harvesting cycles of the crops.
That cyclicality affects earnings, which wax and wane with the seasons. But that’s why smart companies diversify. General Cannabis can offset declining earnings in one division via growth in another.
General Cannabis is essentially a “one-stop shop” for ambitious weed startups. One of its clients may begin working with Chiefton branding, then hire a Next Big Crop consultant, and then start working with IPG.
CANN short tomorrowPerfect n°6 pattern. This stock is up beacause the marijuana sector is getting hotter again since its going to be legalized in canada and maybe even in usa but this will affect the stock price in future: as for now the psychology and the patterns beat the news/rumor (maybe we'll have a V price ation similar to that we had at the end of december and at beginning of january). Anyways if it breaks $4 i think it can drop to $3.65ish or best case scenario $3.25ish.
CANNDo or die coming up for CANN on 1 hr charts. Triangle Continuation pattern in play, break down would be ugly but lead to excellent entry at lower prices when MJ stocks come back in favor. But a lot of indecision in candles,,Struggle between the bulls and bears for sure about to break one way or another. Id take long on break out and look for solid support below to enter on breakdown, rising trendline would be safe spot with close stops..
CANN - Head and Shoulders or Cup & Handle on a weekly chart??This trade is somewhat more complex for my taste with a number of different short term and long term plays.. However, the overall trade is to the long side based on the weekly and daily charts.. As you all know, this is purely speculative based on the chart pattern..
What started out as a short term trade has now shifted to a long term trade.. I entered very early at 1.25 on Nov. 7th with a tight exit around 1.10 for a short term trade to 1.80 area.. Then, I started to explore the chart in more depth and found what I liked on the weekly.. It seems a head and shoulders or cup and handle could be taking shape.. Either way, a bottoming formation could be in route.. I would have liked to have added more to my position, but recently, the stock has moved up so much and so fast that I'm going to wait.. I think the chart explains it all, so please share your feedback or insights.. Thanks!!
Possible MJ bounce coming in AugustPossible bounce play for MJ penny stocks. It may be time for gains in the MJ sector, but I feel it will be short lived. Plenty of possible profit still.
Clearing $2 is a good sign of strength. The 1st target is most likely and the 2nd target is questionable. If the 2nd target is a go then daily price needs to stay above the 10ema area and later ride up the 3ema.
I can see a type of Elliot 5 wave forming with this is idea. I'm not crazy about wave counts, but sometimes they show up.
Jeff Sessions has been seemingly under fire and rumors are surfacing of him leaving office. I don't think he'll get the boot or a Trump firing. This may be a case of buy the rumor sell the news.
We'll see...
Don't get caught up in the hype is this idea takes off.