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Cannabis

Cannabis / MJ Stocks Reversal NotedToday a bunch of cannabis stocks showed up on my screener with some good price action and high relative volume. I set up a composite chart using some of the more heavily traded stocks but no OTCs as well as a couple of the ETFs and the REIT IIPR which manages and leases indoor cultivation farms. While I found the composite price had been drifting downward over preceding months, it bottomed on August 1 and has rose 30% since then. Fundamentally this is a growth industry with or without an impending recession. The volume indicator shows rapidly rising volume in the past two weeks, a good support for price action I conclude the cannabis stocks may be candidates for swing trades presently and into upcoming weeks.
NASDAQ:CGCLong
by AwesomeAvani
TSX another low incoming BOC meeting sept 7th We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low. Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course energy but I think that is mostly priced in by now and even though we had a nice rally here off the June low it was over due after all markets never go down in a straight line. I am looking at further weakness in the energy sector with WTI looking overdue for a move to 70's . I am eyeing the monthly calls with a sept 16th expiry. I am looking at shorting XIU for tsx 60 and XEG for the energy etf and also single names such has Telus / Bell / Canopy / Superior
TSX:TSXShort
by AthenaCapital
TLRY - Second attempt - LONG ONLY TV- So we failed that last one, but as I said, I'm willing to give it a few attempts. Nice volume coming in and with price moving higher I'll get much more confident. - It's holding that gap down pretty nice at the moment. Buy now with risk to lows I think is a decent trade, which you can add to with more pullbacks, but I kind of want something tighter a little higher. - Above that green range is the trade I think with price trapped between that purple high and the green range. - Above the purple completely free from that is the best one but I'd rather get in before and not worry about chop up there before it leaves. - Let's see how this one plays out.
NASDAQ:TLRYLong
by SlapAsksLiftOffers
1
Columbia Care Inc. CCHWF - Chart Analysis and Price PredictionColumbia Care Inc (CCHWF) looks to want to settle the impulse correction and close out the cycle, but will it? While the rest of the cannabis sector looks to pivot near the 8/08 - 8/15 date, Columbia Care appears to be in a great position to not allow it to NOT sink too low. I still would expect to see a price drop another 23%, but will try and hold it above $1.10. I would hate to assume, but suspect this is a legislation play/bull-trap and will provide some correction, but likely take another turn at going south. Keep an eye out for spikes in volume that may indicate that there might be more to the storyline... Volume has been on a major decline as more and more investors have just stopped buying cannabis stocks altogether and only leaving MM, APs and HF shorts alike playing with themselves and those playing options may find a surprise if the correction is made. MSOS would have +5 days to cover, potentially squeezing MSOS to start the creation wheel. I set an alert at $1.17 to start watching a little more closer as we prepare for another significant pivot.
C
by happytree614
Verano Holdings Corp. (VRNOF) Chart Analysis July 2022After near perfect prior Verano Holdings Corp. chart analysis, from deep (6 months in the making) price prediction and wave theory, I return to update the VRNOF cannabis chart forecast. What appeared to be an early to mid August bull run still looks like it could play out, but this marijuana stock ticker (likely others) will want to sell more, leaving me to suspect that there's (again) no legalization that makes it through and will likely retest in November (could be all smoke and mirrors too, as a knife could happen on the monthly and correct soon than expected). Upon the downturn, theses levels are my price targets: $4.87 - $4.54 - $4.26 = PT $4.17-$3.87 = Possible Cycle Floor $3.26 - $3.17 = If Aug. bull run fails (look to retest correction in Nov.)
OTC:VRNOF
by happytree614
$MSOS - AdvisorShares Pure US Cannabis ETF Chart July 2022AsvisorShares Pure US Cannabis ETF (MSOS) has been on a rampage and never shying away of selling off more than expecting, leaving pretty much the whole cannabis sector carrying the dead weight of a massive basket of synthetic weight, expelling a lot of investors and leaving the rest holding major bags from a short attach which started almost over 2 years ago now. I believe we are on the last leg down on the current cycle and should see price action levels of $9.24 - $8.30 - $8.04 PT - As mentioned in prior published chart, I see 8/08 - 8/15 being pivotal dates that either will show signs of cycle correction that could lead into impulse or very may be an extension that continues to sell off (starts another 4-5 wave) for another setup around Nov. (which if that fails, rinse and repeat for Jan. and again in April...etc) If the correction is to turn impulse right now, MSOS would need to close over $13.90 - $14.50, but unlikely event. After the 4th-5th leg down, if the cycle correction is present, there needs to be positive volume bids to close over $1140ish - $11.70(?) after our leg down. That should let the investor(s) know bull trap is likely broken and impulse will proceed. I remain cautious... I see no let up or difference in the last two months of selling per vol profile. Each month prior averages 30M vol. and nearly 3 weeks of each month shows the volume reaching the 20 day average. The MACD on the daily appears to want to go north and grows closer to crossing the zero-line. But, is still far and below via weekly timeframe. The OBV doesn't show any weekly divergence, something to watch for when getting close to cycle correction. The last two times I charted MSOS it each time if completely knifed and oversells on the 4th down into the 5th with some of the quickest bull traps, so let's see how this one plays out.
AMEX:MSOS
by happytree614
$NTI NTI --1 year accumulation/consolidation range --Potential bull pennant forming. --Hidden Weekly divergence watch list for now.. looking for a break in direction A or B what direction do you have and why ?? -Landmark study into paediatric ASD (autism spectrum disorder) has now progressed to the to pivotal drug registration stage. -NTI164 is one of NTI’s proprietary cannabis strains, and is said to be the world’s first full-spectrum medicinal cannabis product (less than 0.3% THC) to be successfully studied in children with ASD.
N
by gillman_hugh
Terrascend Corp. - $TRSSF Chart Analysis (Continued) TAKE A HIT OR LET IT SIT? While hitting my weekly, and daily targets, like most cannabis tickers, TRSSF oversold on May 4th, 5th and 6th. This overselling now pushes this weight down more than expected. (Last chart analysis <4/18/22> : image below) Very hard oversold after 3rd - 4th alternative correction. This will force 5th wave lower than last expected. Expect some small pivots north on a semi-cycle correction during the 2nd half of May, but back to the southside afterwards. Possible $1.53 / Jan. '23
T
by happytree614
Glass House Brands Inc - $GLASF Chart AnalysisSPARK IT UP OR LET IT SIT? Glass House Brands for the most part, has sustained relatively higher stock price action compared to their competition buds. Is this a paranoia high? What appears to be just warping up a hyper extension of a triple combo, this cannabis ticker is putting up a good fight with sellers, but shorts seem to have been made victorious as the 3rd wave is rolling downward, maybe catching some investors in another bull trap around $4.10 - $3.85 before selling down towards $2.85 for a cycle correction, tapping in the 4/5 wave. Not going to lie, this one was one of the trickiest charts in the cannabis sector. I won't apply any of my tinfoil theories, but this one definitely acts different. I will be watching this ticker on all pivots to see if this analysis is right. Disclaimer: This is my 3rd chart attempt mapping out the interest points and although each contain slightly different price plots, the wave action is similar too, but this one I favor most, but could wrong.
OTC:GLASF
by happytree614
Acreage Holdings Inc. $ACRHF Chart Analysis | May 30, 2022Acreage Holding (ACRHF) is currently selling through a huge running-flat that ended 1st week of May, we should see a little more selling while ending on a 5th wave south on a mini-cycle. Price target around .87 cents will start the semi-correction leading into more selling towards .68 cents which in likeliness will catch around .57 cents. Afterwards, another small correction is due which will likely see a pivot north towards .88 cents (depending on volume increase) and will sell south on final primary-cycle's 5th wave which might see a floor around .49 to .44 cents before primary-cycle correction, which looks to be prepping around 1st and 2nd week of Aug. 2022
OTC:ACRHF
by happytree614
The dependence between the dollar index and the high risk assetsIn the following chart you can see the dependence between the dollar index, the crypto market cap, and the oldest weed stock ETF Below them is the market cycles indicator which measures the overheating of the US economy. We can see that when the DXY is in fundamentally downtrend condition, the economy is in good fundamental condition and the indicator is showing us buying opportunities marking green investment area, the crypto market is booming. Read the full article here: rodopacapital.com
CRYPTOCAP:TOTALLong
by rodopacapital
Jushi Holdings Inc. ($JUSHF) Chart AnalysisTake a Hit or Let it Sit? On the weekly chart, Jushi Holdings Inc. (since the recent correction) as been taking some dirty bong rips as the price continues to sell down +45% from prior Feb. highs. The correction failing to new highs leads me to believe Jushi will follow suit and sell off to previous volume support. If we take the high and low of the correction and place under the breaking point where the correction ends and the pivot downwards starts, it coincidently displays possible 5th wave ending right on the support zone of the last time volume was traded in that price range. Notedly, the resistance (now support) of last price range shows possible $1.75 before catching the full weight of this sell of. With a slight chance of a big swing with next correction, I wouldn't hit this joint and might not for a while. I will set alerts for $2.20 to start watching again to see if a possible reversal of trend/impulses can be benefited from at that point.
OTC:JUSHF
by happytree614
Green Thumb Industries Inc - $GTBIF Chart Analysis (Continued)TAKE A HIT OR LET IT SIT? Like most of the cannabis sector, the last couple days of the first week of May oversold than I expected, while hitting all my price targets, it happened faster than expected. Last Chart Analysis (March 26th, 2022): This will change my overall look and move the primary cycle 4th and 5th wave (as presented in new chart) The MACD quickly corrected what was a peak of divergence and now shows a hard sell continuation. I would expect to see a 3-4 correction here, any price around $10.60 = $10.32 with a chance of going north towards $13.52 for possible PT via correction peak. Expect hard selling early Nov (if not a little before then) and to continue to sell until April of next year ('23), making $6.02 - $5.60 a possible floor. I would assume chaos if it goes under $5.60
OTC:GTBIF
by happytree614
5
Ayr Wellness Inc -$AYRWF Chart Analysis (Conti.)TAKE A HIT OR LET IT SIT? $ARYWF With most of the cannabis price action this past week, this cannabis ticker also sold a little more than expected. This is also connected to TV not providing the chart data prior to the symbol change. So, along this chart analysis, I am running blind, but feel pretty good with this prediction with this timeframe now in align with other potstocks. I know believe the markets want us to believe this has been over bought for most of the way down (looking at the volume profile, I guess that's true). With this chart, we'll see the summer correction that's needed (likely peak around $9.47 - $8.50 marker) and than start selling on the 5th wave down during Aug. This gives the ticker a chance in Oct. to have a time to correct the primary cycle.
OTC:AYRWF
by happytree614
Trulieve Cannabis Corp - $TCNNF Chart AnalysisTAKE A HIT OR LET IT SIT My last chart analysis was meet with pivot targets confirmed, but with this last few days of trading made me go back to the chart and investigate. Thursday (May 4th) this cannabis ticker (like a couple other marijuana stocks) sold a little more than what I was expecting. This over sold zone would mean that my last 3rd to 4th correction via primary cycle would need to adjust with this new data. The MACD also confirms, breaking out of divergence, that this is a continuation from the 1st semi-impulse correction. I was targeting $13 for the correction and TCNNF went to $12.77. The oversold data means my daily semi changes the weekly semi, which changes the interval, thus making new primary cycle data points, yay! With the alternation/cycle correction taking place throughout the summer and selling off via 5th wave the rest of year. I believe my last floor for this pot stock was targeting $9, but this new theory makes $7.35 as a start to caught this extra weight and $6.80 - $6.30 as the possible floor for a cycle correction.
OTC:TCNNF
by happytree614
Advisor Shares Pure US Cannabis ETF - $MSOS Chart AnalysisTAKE A HIT OR LET IT SIT? Just about to pivot on the interval cycle via 3/4 wave, I would expect to see a small correction that might be usable for a long swing for $1 gain (or more), but will begin to sell and continue this downward trend through out the summer. Shaving another $3, I can see this cannabis ETF possible catching ground around $14.5 - $14. Hard to judge since that isn't any previous volume to support this ticker, but could present a cycle correction worth playing. MACD is showing divergence, so I would assume this divergence will carry on through out the 5th wave.
AMEX:MSOS
by happytree614
2
AdvisorShares Pure US Cannabis ETF - $MSOS Chart (Cont.)At the start of the week I hit my weekly semi-cycle 3rd leg and on Tuesday, my interval daily cycle hit the 5th wave. I was looking for a semi-correction, but instead was surprised by Thursday (yesterday) price action sell even more. So, I went back to the drawing board and calculated some more data -- This might be way too early to call, but here we go. $15.13 was my price target for the start of a semi-correction, selling down to $13.70 was unexpected, but with new data, I think I see what's going on here and makes it a very interesting oversell action. I believe we will see a summer correction through the next few months, north +$18 to and depending on the force of the correction, it could kiss $20 before finally selling off for the 5th leg, which could see $8 by next year. With this is motion, I believe while most individual ticker appears to want to correct around the Aug timeframe, MSOS looks to start the sell off of the 4th wave, which I suspect will be the end of the ETF in general as August will bring legalization and allow anyone/everyone to start investing in which ever stock they want, no longer needing such basket holding cannabis tickers. Could be wrong though 🤷‍♂️
AMEX:MSOS
by happytree614
2
Green Thumb Industries Inc - $GTBIF Chart Analysis​TAKE A HIT OR LET IT SIT? On the weekly chart, $GTBIF has flexing big highs and 'Debbie Downer' lows, can the 420 spark enough buzz to get investors back high? Correction ('ABC' / '12345' Interval Completes) - Now 4th-5th wave, expect divergence via MACD throughout until cycle completes. With the POC around $9 (history), expect the Middle of May selling to continue into the summer. $13.50 looks like a good mid point, collecting itself before last selling with a final landing zone around $11.60 to a possible $10.50 to finally catch the volume before correction.
OTC:GTBIF
by happytree614
Cambria Cannabis ETF - $TOKE Chart AnalysisTAKE A HIT OR LET IT SIT? On the weekly chart, $TOKE has sold out of the alternative semi-correction which has lead the price action south to the 5th wave of the semi-cycle pivot. MACD divergence seems to be peaking through the weekly signals, applying towards the 4th-5th alternative correction timeframe and assume this divergence will continue displaying throughout the primary 5th wave. Since the ticker tag is under $10.19, I believe the semi-cycle correction is done and over with and will be on the south side of town until the 5th of the primary cycle target, which I think will start to gain traction around $8.35 -- $7.63 (wave 1 polar) possible floor for cycle correction. *Bonus thought: This seems to be selling without Aug. and leading into Sept. With Cambria Cannabis ETF holding a lot of Canadian stocks, one might think this continues to sell when the US cannabis stocks are ready to make a correction move in Aug.
CBOE:TOKE
by happytree614