WEED trade ideas
CANNABIS STOCK - LONG-TERM OPPORTUNITY The Cannabis market is obviously promising.
The Potential of growth of this market is enormous,
if cannabis becomes gradually just like any recreational activity and starts to compete with wine and spirits
for favorite way to be absent minded the potential of profit is gigantic .
Here we have a promising market, a company that is in loss for this quarter but that has sound financial balance sheets.
the classical good company in bad times.
Good time to buy. Its still uncertain if we can buy at around 29 or at around 11.
i think we have to buy now and latter buy again if the price goes down again.
or we can just wait for the StochRsi to get out of the oversold zone as a confirmation in smaller time-frames.
This is the exact time when the big Guys start to accumulate, maybe is the right time for us to enter with the smart money as well.
Feel free to put a like , follow or comment.
HEXOHard time for the POT stock these days. Looks like TSX:HEXO is in a sideway formation for now with a bearish 50D and 200D WMA. Potential next bottom at around 4$ if it goes below it's support... Note that TSX:WEED already reach this JUL18, AUG18 bottom with shitty Earnings... So... I'm not expecting much from HEXO.
Is a bottom near for Canopy Growth Corp?Did Canopy create a double top, or is the stock going to create a Macro higher low & stick in a bottom tmrw or sometime right away next week?? If Canopy doesn't take control of the market tmrw with some big news to offset the market sentiment than don't look down, in my humble opinion which is only worth a grain of sea salt from...….
Time will tell per usual.
Keep watching this guysMy overall outlook for Cannabis remains bearish since the market haven't given any reasons or indicator that it is going back up.
However, Bruce Linton himself, the former CEO of Canopy, recently purchased more stocks.
This could only mean that the confidence for this company is still running strong despite the recent changes to the company direction.
Will have to keep watching the entire industry and see how this is all going to unfold.
$WEED support lost, will the channel hold? #WEED #CGCOh well, were definitely expecting more energy from around here but now it seems to be that the support that has been holding the price on right course since December '17, is lost. This channel where the price bounced a tiny bit right now has also been tested few times earlier. Not looking that impressive here, for me at least. If this channel is lost, we may see this stock around sub 40 CAD and then maybe even sub 30 CAD. Seems crazy with all this legalization just keep on spreading that the price would see stupidly cheap prices but maybe still lower from here a bit. Direction will chance soon - after the market has done what has to be done.
Weed Bullish CypherWe are high with a Bullish Cypher. :D
We might get a Qml after that Bullish move, making the second leg.
$WEED please, if not now, how much lower? #WEED #CGCWell, there was the bounce. Filled with hopium I was imagining couple of lines higher move from here. We'll see if there's energy for that as we get closer to this crucial trend line, elseway we could see much cheaper stocks to buy soon.
Canopy Growth Weed Longin weekly chart the price is leaning on the positive trend line with a hidden bullish divergence on RSI
This is the crucial support, lots of resistance ahead $WEED $CGCSupport did what the support were suppose to. Many levels to break ahead. Things probably start to get interesting around 51-55 CAD where this bounce hopefully takes us.
Strong bounce from here or price target as shown in chart $CGCThis is the place to bounce for $CGC or else a drop lower where there is very tempting area waiting for loading up the $WEED bags
Support at long term trendline at 49.66fib wedge work great on canopy. 49.85 would be a great entry point to add shares this week. long term support at 36 n change. lets hope this trend line doesn't break. cannabis sector looking week. follow hmmj.
Applying EW to recent WEED price actionDisclaimer - first time applying EW and I barely know what I'm doing.
Bad News for CannabisCanadian cannabis market is still in the process of sorting itself out between Legal and Blackmarket cannabis.
New challenges ahead if the Cannabis sector do decided to produce products such as edibles and beverages which will also incur additional cost to process.
Given the circumstance that Cannabis industry is in, many recreational smoker now have the ability to grow their Cannabis at home (my friends included :P), we can expect further struggles with these companies since casual grower have also the ability to cook up their own consumable and often more creative.
Let's wait for Monday and see how the market will respond.
Also check out “HMMJ - Canadian Cannabis ETF” if you haven’t which will give you some insight of the overall cannabis condition.
Weed - Looking bearishAfter recent press, looking bearish and needs to hold the level and range or it could be ugly. Interesting to see how it reacts here.
WEED Nothing BullishVery bearish chart - no reason to catch the falling knife and buy until something confirms. Weekly MACD turning negative and already below the signal is confirming this down move.
No catalyst yet - I'll need at least a break of the recent weekly downtrend.
Meanwhile, negative divergence on the MACD and DMI will weigh on it.
Weekly WEED Still Looking BearishNegative divergence on the MACD and DMI dating back a few months. Weekly still looks bearish & Waiting to see if we can get daily charts and technicals to turn back up.
WEED - Waiting for a Buy Set-Up After a few days of weaknessWEED - Don't like the negative divergence on the MACD and DMI dating back a few months.
But, will be eyeing how it trades on the retest of the Bull Flag. Weekly still looks bullish if we can get daily charts and technicals to turn back up.
Right now a hold, with no bias.
WEED weekly analysisWEED
WEED is in a broad bull channel with good buying pressure and no strong reversal yet. The bears recently attempted to form a lower high, but prices are stalled at the EMA and set up a nested high 2 /wedge bull flag. The bulls have a breakout gap below around $47.50. If it remains open, prices will likely test the all time high. A new all time high could form a wedge reversal down, at which point bulls will likely take profits and wait for two legs sideways to down before buying again, unless the reversal is strong.
