An MJ ETF with a strong arc provides tantalizing guidance.With all the positive catalysts supporting MJ stocks, I believe its arc provides the most potent evidence for good times ahead.Longby StockRenterUpdated 8
Cannabis Market Reversal.So far so good. The gains are holding, and day trade opportunities are everywhere in the cannabis show. The blue wave has a lot to do with it. Imagine that a market with 300m people opens up and its ready to be taken....US legalization. Technically, its good. Good Bullish Trades!by eltraderche0
HMMJ.CA trying to fight back Obviously, the 200DMA is still key. Until we breach the 200 day, we're stuck in purgatory. However, immanently, if we can get back to previous short term support, it would be constructive.Longby StockRenter0
HMMJ.CA Still looking petty bearish. Now that the vote on legalization has been postponed till after the election, it's hard to find many catalysts to help get the sector out of the doldrums. Much of the bad news has been priced in, but perhaps not enough. It seems bankruptcies are being factored in based on its price action. Let's see...Longby StockRenter1
Does HMMJ.CA break up or down? Here's a short term chart for Horizons Medical MJ. It's been trying to base over the last week, with some continued follow-through, albeit timid. I expect we're winding up to the #More vote scheduled for the week of September 21st. For me, it's a coin toss. The overall trend is clearly bearish, but it's certainly putting up a fight to reverse that.Longby StockRenter1
Possible break above bearish channelAn attempt to break free from its long-term bearish channel is imminent. Recent support pegged at $6.15, a close below it will signal continued bearishness.Longby StockRenter0
Are we finally finding a bottom?I had published a previous chart on HMMJ, which for now has failed, overshooting to the downside. I have to believe so much bad news has been priced into the sector. There are a couple of positive catalysts that may provide the lift needed to gain favor with investors. Longby StockRenter0
It's Decision Time next week.I decided to republish this chart with a tightened up arc, and added some initial price zone/targets.Longby StockRenterUpdated 0
Good looking setup.I like the setup to at least test previous support. A break above would get my attention.Longby StockRenter2
HMMJI see a potential move up here. I opened a trade at 6.75 at the support line, taking profit near the resitance line. Stoploss at 6.58. PS: I'm in no way an experienced trader, nor is this investing advice. I't is mainly just for me to keep a record of my charts and review them at a later time.Longby SambolyUpdated 6
The Cannabis stocks look to be making a comeback.The HMMJ (Canadian cannabis focused ETF) has bottomed out and sales of cannabis have been strong since coronavirus hit the globe. Longby malvinspooner4
Cannabis ETF's (and some of the stocks) are rallying finally.The industry has been oversold, and now that the bad news is behind us looks to continue to see better days.Longby malvinspooner3
Downtrend Cooled Off => See how long it stay sideways.Cannabis stocks plummets for almost a full year. I think that the initial hype of the Cannabis industry is over. Those who entered the market as retail investor looking to take advantage of the hype had left probably lost quite a few $$. With plans for Toronto to open up more stores might not help. The daily MACD does show signs that Cannabis is recovering crossing over the weekly MACD, but it will be a while before the weekly MACD catches up and willy most likely create a sideway market for the time being.by TradingCow225
Cannabis Stocks Hit Bottom .... Again?Three weekly candles finding support in the low $8.00 range Price action is flirting with the $9.75 weekly resistance Moving outside of oversold territory What has me cautioned: Approaching a long term descending resistance line Weekly resistance at 10.28Longby tomthetrader15
HMMJ - Long Idea. I was asked about this stock/ETF by one of my subscribers. I like it! Firstly it's weed, we see it in use in so may ways. Governments getting on board aging population opening up to its medical uses and recreational use of course. It's a product you buy, burn and re-order. I do not care what your opinions are on this "drug", I see opportunity here. I was in weed stocks before some with good timing some with poor timing. Time will tell: - RSI oversold on weekly - MACD Diverging on weekly - Candles starting to confirm, engulfing. - Price at a major level of support going back to May 2017. Let's see how high this gets. Happy Trading! Longby MattArmstrongUpdated 7
Canadian Marijuana Stocks bottoming out.Canadian Marijuana ETF maybe bottoming out. It is way too early to but this ETF. But I will keep it under my radar.by TrentAsher4
Signs of bulishnessOn the daily we can see bullish divergence on the RSI and MACD it is also on falling wedge as well. There is also bullish divergence on the weekly aswell. Hesitant to take a long term position because the fate of this play will depend largely on the earnings, which could easily become another massacre like we saw in November. would not be a bad idea to take a quick swing trade before earnings though.Longby gNnairdA1
HMLSF Bottoming or more pain coming?Clearly weed stocks took a beating this year, in the short term, there might be some more pain, but in middle term I expect a reversal.by goox773
MACD CrossImpending cross on MACD weekly, I believe the bottom is in. We are now in the accumulation phase in marijuana stocks. All the big name players are heavily discounted, mostly due to overproduction in the last quarter. This is one of the best Marijuana ETFs out there, much more stable than the concentrated growers ETFs.Longby Jrussell861