APH is a clear laggard, though chart remains bullishAPH saw a higher open this morning and broke the daily inside bar bullish but remains within its hourly equilibrium. The daily bull flag setup remains as the range gets tighter and tighter. MACD is curling up and we want to see a clearer spike tomorrow and increasing volume.
Bulls are trying to hold 19.79 as an hourly support but we're far from convinced that's our higher low. Next level is 19.62 and 19.32. It would be a red flag to break those levels, but 19.00 is must hold to remain within this hourly equilibrium.
Resistances is then 20.18 to break the equilibrium bullish. Bulls will then look up to test our recent highs 20.50, 20.70, and 21.58.
APH is a clear laggard to CGC and ACB that are at all time highs in full on breakout mode. I'll be watching to see if some profits from those names start to cycle into APH to give an extended run here.
Keep walking your stop losses up. We're in a euphoric bull run and we want to protect our profits from any sudden sell-off.
Also keep in mind the correlation to the overall market. SPY has its second daily inside bar to watch the range of tomorrow, and while a bearish end of day didn't affect the mj sector today, we have seen countless times where it has.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
APH
APH holding a daily bullflag into legalization weekAfter a huge move on reports of an investment by a tobacco company, APH is trading in a 4hr equilibrium with multiple daily inside bars. This is one of my favourite setups. As expected we have decreasing volume on this consolidation.
The range to watch is today's range; Break 19.00 bearish or break 20.00 bullish.
Note that 19.00 would not break the equilibrium bearish because we haven't set a convincing higher low above 18.61. For now, that remains our key level
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
WEED - Technical AnalysisDear Traders,
Let's have a look at WEED (Canopy), since it reached it's new ATH, WEED has been retracing back to the 55 ema (Which is a common thing). But the question was, will that 55 ema hold, well for now it does, but this week has been very volatile.
As long as we stay above that 55 ema, we are in a bullish mood/trend.
If we succeed in staying above the 55 ema, our next target will be the 0.5 fib level that serves as a huge resistance for WEED. Bulls have tried multiple times to breach it but without success. And until that 0.5 fib level hasn't fallen, we won't see any run soon.
Any thoughts ?
APH hourly equilibrium is early signal for daily bull flagAPH gave us a daily inside bar today as one could expect after such a volatile day yesterday. Our pattern is clearest on the 1hr chart as we see a tightening equilibrium. We have our lower high at 20.50 and the bulls are now searching for a higher low; a new base of support above 18.60. The daily chart is currently in a bull flag setup and to confirm the bulls will need to break this equilibrium and the high of yesterday 20.70 on increasing volume.
I might consider bottomfishing a lower high above 18.60 but weakness in the overall market may have me patient instead, and waiting on the sidelines for a break of this tightening hourly pattern.
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
APH tobacco rumours ignite a bull moveAPH had a solid move today on the back of a report of a potential investment from a tobacco company (yuck!). This is the most volume APH has ever seen, we we broke numerous resistances on the way up. There is no support here at these levels to be very careful if making any bullish entries.
Daily support is at 15.93. Key resistance is high of day 20.70, then 21.58.
We have to look at the 5min chart to find closer supports, and I see 19.54, 19.40, and then nothing until 17.19.
It's clear there were people trading yesterday on insider information, front loading for this move, where we saw the price run from 16.87 - 18.03 on very low volume while the rest of the sector was trading sideways at best. See below for yesterday's move, and compare the volume to the chart above and you can see the front loading taking place.
I did not swing a position because I am terrified to hold anything with the stock market dumping so aggressively. Tomorrow, I'm going to need to let the range establish itself first thing and wait for a break of that. Supports are too far away right now for me to be comfortable to play off of.
Congrats to the bulls - I missed the whole move but I'm happy for those of you who caught it. Just like that, we're approaching key resistances. After a 15% move today, we're only 20% away from all time highs!
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
APH: A simple, first time analysis.As can be seen, after the slight downtrend, the 9MA has surpassed and overtaken the 18 and 50MA. The 9MA is also on pace to cross the 200MA for the first time since the middle of September when charted on an hourly basis.
Something else to consider is the slight bullish divergence which confirmed the downtrend losing steam as was indicative of the increase in security price around the 5th of October. MACD also confirming momentum for the Bulls during this period. I will be following this stock closely in the coming days with earnings being released prior to market open on Friday.
LHS - Technical AnalysisDear Traders,
After a whopping 170% run, Liberty Health Sciences (LHSIF), Has started it's retracement, and in my opinion, it's not done retracing just yet.
If you look at the green circle you'll find a perfect entry. a bounce off of the 0.50fib level where the 55 ema and the 200 ema is located. If a bounce off takes place, there is also a chance that the 55 ema crosses the 200 ema which would be very bullish in our case.
What are your thoughts?
NEWS: technical420.com
About Liberty Health Sciences Inc:
Liberty Health Sciences Inc. manufactures and distributes medical cannabis. The Company cultivates and markets pharmaceutical grade marijuana. Liberty Health Sciences markets its products in the United States and Canada.
APHRIA - Technical AnalysisDear Traders,
Today I'm having a look at APH, As we can see we had a retracement going on for a week, and it's price now hit the 200 EMA on the 4H chart. this happened before and it created a nice bounce. The question is, will this support level hold again? My guess? Yes. Look at that continuing BUllish divergence in the MACD, this shows us something will happen soon, and it's bullish. Perfect entry point would be the 200 ema.
APHRIA NEWS: Aphria To Announce First Quarter Results On October 12, 2018 => Keep on eye on the charts that day, good news could bring more vol. - Source: web.tmxmoney.com
ABOUT APH:
Aphria Inc is licensed to produce and sell medical marijuana, including dried cannabis and cannabis oil, as a Licensed Producer under the provisions of the ACMPR.
APH chart remains the weakest in the sectorAPH continues to show weakness on the daily timeframe and is still a potential bear flag setup. We were unable to break the high of Thursday but broke the low, continuing to test down towards that very key 15.76 support. To negate that bear flag setup, bulls have to hold that level and break convincingly above 17.28 with big volume and follow through. If they can do that, we will look for a lower high on the daily chart below 18.69.
The biggest comfort the bulls have right now is volume is not increasing on the way down towards support, but even that isn't giving too much comfort at this point.
Zooming into the 4hr chart we see a clear downtrend pattern of lower highs and lower lows. We are not convinced 15.93 is our new higher low until that first resistance level 17.28 can be broken. We're starting to see the first signs of a bullish MACD cross but it's a weak move right now, and I'm not giving the bulls any benefit of the doubt whatsoever.
I like APH but this is one I'm going to be patient with. There is no sense playing the weakest chart in the sector just because I like the company. I'm going to protect my profits by letting the trade come to me instead of trying to catch a falling knife.
APH a convincing bear flag setupAPH has a similar setup to CGC and WEED but is far weaker; Canopy has seen enough of a bounce and a moderate enough pullback to potentially see continuation of the oversold bounce, but Aphria doubletopped at the high of yesterday (breaking by only 2 pennies) and had a much more aggressive pullback today. Both Canopy and Aphria are potential bear flag patterns on the daily, but when you look into the 4hr charts of each name you can see why the bear flag is more likely to confirm on Aphria than it is on Canopy.
Key daily levels - break 15.76 support to confirm bearflag, break 17.28 resistance convincingly with volume to negate the bearflag
Zooming into the 4hr chart you can see the much weaker bounce and the much stronger pullback that makes this setup much weaker than Canopy
Be aware there is market correlation between the mj sector with the S&P500, and keep in mind that SPY lost the daily uptrend today. It's often said that high tides raise all boats; likewise, low tides can beach all ships.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
APH triple bottom of support to watchAPH once again held key support, making 15.76 a very important range to watch in the coming days and weeks. Bullish reversal candle on the daily, and a daily inside bar, bulls want first thing tomorrow to break the high of the day 17.26. There's a support at 16.68 but price hasn't bounced enough from that level to convince us that's the new hourly higher low.
Anything under 18.69 is a daily lower high and we would anticipate a daily higher low once this bounce tops out. This bounce doesn't change the fact we're in a daily downtrend here, this is nothing more than an hourly oversold bounce at this point.
I do see some potential hidden bullish RSI divergence but it's not as convincing as CGC/WEED divergence so we will have to keep an eye on this potential clue.
The range to watch on the daily is is is 15.76 - 18.69, with a close watch on 17.26 first thing tomorrow morning to ensure the bulls can see continuation.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
GTEC - Technical AnalysisDear Traders,
As we can clearly see, GTEC's price is in a bullish channel. With a Hidden DIvergence in the MACD, it could be possible we will soon see a run-up.
This Hypothosys would be cancelled if we break downwards from the channel.
Last News:
Update on Status of Sales License and Other Operational Updates:
GTEC Provides Update on Status of Sales License and Other Operational Updates
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (“GTEC” or the “Company“) is pleased to provide an update on the operations of its wholly owned subsidiaries.
Alberta Craft Cannabis Inc. (“ACC”) is a Licensed Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations located in Edmonton , Alberta. ACC operates a 14,000 sq. ft. craft cannabis cultivation facility. ACC has currently completed its initial harvests and has notified Health Canada. The Company is now awaiting Sales License inspection to be completed within the expected timeline.
F-20 Joint Venture (“F-20”) is a GTEC agreement with F-20 Developments Corp. to develop a premium indoor cultivation facility in Vernon, British Columbia . GTEC’s operations team has completed the final design of Phase 1 construction plans. The building will be retrofitted to facilitate the cultivation of premium cannabis. Phase 1 of this partnership is currently underway, with completion anticipated for Q2 2019. GTEC expects to complete Phase 2 designs by Q1 of 2019.
Tumbleweed Farms Corp. (“Tumbleweed”) is a late stage ACMPR applicant based in Chase, British Columbia . Tumbleweed has completed its purpose-built exterior and is near completion of the interior construction. The Company anticipates that it will commence cultivation over the duration of the fall season. Tumbleweed has also signed a contract with the Pacific Agricultural Certification Society (“PACS”) with an objective to be one of the first certified organic cannabis companies in Canada .
GreenTec Bio-Pharmaceuticals Inc. (“GreenTec”) is a late stage ACMPR applicant based in Kelowna, British Columbia . GreenTec is currently in Phase 1 of development, building 20,000 sq. ft. of its planned 80,000 sq. ft. craft cannabis cultivation facility. GreenTec has recently completed the exterior of this building and anticipates completing the interior construction and commencing cultivation in Q1 2019.
Grey Bruce Farms Inc. (“Grey Bruce”) is a late stage ACMPR applicant based in Kincardine, Ontario . Grey Bruce is currently building a 15,000 sq. ft. craft cannabis cultivation facility. The Company has made substantial progress in completing a major retrofit of its existing industrial building and anticipates that it will commence cultivation in Q4 2018.
Falcon Ridge Naturals (“Falcon Ridge”) is a late stage ACMPR applicant located on a certified organic farm in Kelowna, British Columbia . Falcon Ridge was seeking to construct a 10,000 sq. ft. facility. On October 1st , Kelowna City Council voted against the Falcon Ridge project application, due to recently adopted land zoning issues related to the proposed facility being within the B.C. Agricultural Land Reserve. Accordingly, GTEC does not anticipate moving forward with this project, and plans to re-allocate Falcon Ridge capital funds to its larger facilities and/or for existing expansion opportunities.
Spectre Labs Inc. (“Spectre”) is a cannabis oil extraction facility based in Kelowna , British Columbia. Spectre has acquired land and building to develop a state-of-the-art facility. The Company has completed initial design work and submitted an application to the Office of Controlled Substances for a Dealer’s License. The site will be developed in a phased approach and will serve as a Good Manufacturing Practices (“GMP”) grade facility with extraction, formulation, compounding and export capabilities to support GTEC’s Licensed Producers and the global medical market. GTEC also intends to utilize Spectre to manufacture edible products that are expected to be incorporated into Health Canada’s regulatory framework in 2019. GTEC was notified on July 17 th by the Office of Controlled Substances, that Spectre has been assigned an application number. From the time of receipt of a complete application, the Controlled Drugs Section commits to a service delivery standard of 180 business days for the issuance of a decision on an application for a new Dealer’s Licence for controlled substances.
APH dumps and holds next support - barelyAPH gapped down today, filled the gap, then turned around and never looked back. I held a short most of the day today and covered it a little early just under $16.30. Support at 15.76 held by two pennies. APH saw such a significantly bearish day because after losing 18.57 last week, the next support was 15.76 - a full 18% below.
We're at the point where we can start looking for an hourly oversold bounce, but APH is unlikely to bounce here without sector leader CGC bouncing as well. CGC cooled off RSI on all timeframes at the end of the day and in after hours and is sitting currently in an hourly bear-flag setup, and can easily see another solid red day tomorrow. If that's the case, I don't expect the APH bulls to be able to bounce significantly even though it's RSI is much more beaten up.
Increasing bear volume on the daily has the bulls salivating at the opportunity to play the bounce, but smart traders are sitting on their hands very patiently waiting for the setup to come to them rather than trying to catch a falling knife.
On a bounce, anything under 18.69 will be a lower high on the daily chart.
APH bears in full controlAPH bulls had a gift this morning with a gap-up open breaking the hourly downtrend, and re-confirmed the hourly downtrend by giving back the entire move back, barely holding the low of Friday by 5c. The bulls couldn't even muster a small push up after opening bell, leaving the bears in full control and the opening price as the high of the day.
The range I'm watching is 17.37 - 20.57. If the low can hold I am anticipating a lower high on the daily roughtly in the $19.50 area at best, unless some news catalyst propells us higher.
Other than 17.37 there is absolutely no support on the chart until 15.76; the loss of that level, would break the weekly uptrend and be a red flag for investors with a much longer term mindset. I don't anticipate a straight drop to there and to break it, the most likely scenario would be to find a new support, bounce and set a daily lower high, then come down to test that support region.
Keep an eye on CGC, 1% away from a bear break on the daily chart. I've seen APH drop several dollars in a span of minutes before and it's already the weakest of the major sector names. The correlation to the sector leader, CGC, breaking bear will definitely favour the APH bears.
APH in price discovery, looking for a new support levelAfter breaking its daily uptrend, APH bulls showed up Friday looking to set a daily lower high compared to 20.57. I'm expecting a back-test of the daily MA20, currently at 19.51 in the current configuration. I don't like any bull entries in APH right now based on the daily chart, but if you zoom into the hourly we see the bulls trend trying to change the trend, looking for a higher low and then a break of 18.54. If playing that hourly chart you will likely not want to hold this position for more than a night or two, but in my opinion there are better setups out there. It's worth noting the low daily bull volume.
As one of the weaker charts, correlation to the sector leader will favour the APH bears and I expect further downside should Canopy break bearish from its daily equilibrium. They daily range right now is 17.37 - 20.57, but if SCYB continues to sell off APH shares we will look for further downside after this move tops out.
If you have a long term position in APH and don't like trading it as much, consider this. Stopping out on the break of our key 18.57 support saw a 6.5% move to the downside, meaning you could have bought back 6.5% more shares with the same capital. That's one way you can compound profits, even if you don't want to watch the charts throughout each and every day.
APH coming under intense selling pressure after SCYB TransactionAPH was by far the weakest name in the sector today, breaking $18.57 support and signalling a major red flag for the bulls, putting the chart into a daily downtrend with a lower high and a lower low. $17.76 support broke as well, and the last level we have to play off of is the low of the oversold bounce $15.76. APH rejected on open from daily EMA4 & EMA8.
The price is now entering an area with a significant lack of price volume support, and we could easily see the price move down very quickly to below $17, and perhaps to as low as $16.00. There's significant support at $15.76 so a bottom-fishing play could be an option, but now that we're trending downward I would not be holding onto that position for too long.
Why was APH the weakest name today?
Today Scythian Biosciences closed the sale of its Latin American and Carribean Assets to APH in an all stock transaction - 48,849,218 shares of APH. Clarus Securities acted as the financial advisor in this deal. (source: finance.yahoo.com ).
Clarus sold a single transaction of 500,000 shares today, I'm speculating that Clarus is cashing in some of those shares on the open market for cash on behalf of SCYB. There could be further selling pressure ahead if they intend to cash out more shares on the open market.
Resistances are 18.24 and 18.53, support all the way down at 15.76
APH in the same tightening pattern seen across the sectorAPH is in a tightening pattern on the daily and the afternoon bounce today gave us an hourly lower high, and a new resistance to play off of, 19.88.
Low of the day was 18.78, this level is important but the key support for me is 18.57.
If we can break 19.88 and hold 18.57, that significantly shifts the odds that APH can break this daily tightening range bullish.
Watch all the major names, as I expect them all to break the same way. It will be worth noting which one breaks first.
APH - letting the dust settleWatching the APH.TO range from low of the oversold bounce to high of today. Today we saw our lower high set and bulls are now looking for a new support level above 15.76.
Today's low bounced right off the .5 retracement of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that new support holds. I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow.
Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
I find the most clarity on the daily chart.
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
APH nails Lower High target; Do the bulls have more energy?APH After retracing almost .5 of the move up from the low of consolidation before the constellation news breakout to our recent high, I was watching for a lower high to be set in the mid $19 range, right around where we closed Friday. It will be notable if the bulls keep pushing higher, and when they tire out I'll be watching for a higher low compared to low of Friday $15.95 and a tightening daily equilibrium.
Comparing US MJ stocks to Canadian MJ for Oct 17First 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
