TLRY BUY (TILRAY INC)Hi there. Price is forming a big reversal pattern to change its direction. Also is close to 0 value which is a very good sign. Watch strong price action at the current levels for buy.
Cannabisstocks
ETFMJ- Cannabis ETF- Capture the gain (Industry)Cannabis industry, after a wild run-up and capitulation in 2018, has been trading under its intrinsic value for a while.
For investors who want the exposure to the industry without taking on the excessive amount of risk associated with individual cannabis stocks, ETFMG Alternative Harvest ETF is the way to go.
Go long now in the trading range or go long in the demand zone if the consolidation break-down happens.
Ascending Triangle formation for TNY.The green upward sloping line of support has held multiple touch points, potentially indicating the pattern is a Ascending Triangle.
Notice the RSI is respecting the blue downward sloping resistance of what appears like a bull flag or descending triangle.
The KST is on the verge of forming a bullish cross potentially where I have placed the finger pointing upward, previous example can be seen in April and June.
HEXO BUY (HEXO CORP)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current levels for buy.
VFF BUY (VILLAGE FARMS INTERNATIONAL INC)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
Is Canopy trading in a bullish flag?It's very likely this plays out bearishly as a descending triangle, Canopy recently released earnings & the price continued to sell off immediately in the days following, despite the financials improving from previous quarters, and despite strong beverage sales the market seems to favor the U.S focused MSO's at the moment.
Canopy will need some compelling news to break this pattern to the upside.
Canopy is displaying a Symmetrical Triangle pattern as well, notice the green upward sloping line of support, Symmetrical triangles differ from ascending triangles and descending triangles in that the upper and lower trendlines are both sloping towards a center point. In contrast, ascending triangles have a horizontal upper trendline, predicting a potential breakout higher, and descending triangles have a horizontal lower trendline, predicting a potential breakdown lower. Symmetrical triangles are also similar to pennants and flags in some ways, but pennants have upward sloping trendlines rather than converging trendlines.
SNDL SUNDIAL GROWERS INC upside potentialAug 13 (Reuters): NET CANNABIS REVENUE FOR Q2 OF 2020 WAS $20.2 MILLION, AN INCREASE OF 44% OVER Q1 OF 2020
Sundial Growers, Inc. engages in the production and distribution of flower, pre-rolls and vapes. It operates through the following segments: Cannabis, Ornamental Flowers, and Corporate.
6/29/2020 BMO Capital Markets Upgrade Underperform ➝ Market Perform target price $1.00
Market cap: 75.147M
Net Income: $-204,570,000
If you are interested to test some amazing BUY and SELL INDICATORS, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
Aurora Cannabis about to BOUNCE 30% !!! GREAT SWING TRADE SETUPNYSE:ACB
Aurora Cannabis has a strong chance of a bounce back based on multiple factors:
1. Falling wedge (bullish pattern)
2. Strong support in $9.50 area
3. D1, H4, H1 oscillators in the oversold area.
Based on those factors it is a good setup for a long position with:
entry at: $9.70
TP: $13.22 (which is a level near 200 EMA)
SL: $8.86
Risk/Reward ratio: 1:4.25
Aleafia is potentially trading in an Ascending Triangle.AH is forming an Ascending Triangle or potentially a Bullish Flag, the dark green line is the base of either a bullish flag or descending triangle, the dark red line is clearly the downward sloping resistance of the pattern.
The dark blue upward sloping line of support has seen multiple bullish reactions upon being tested, I have placed three blue arrows to represent each time we've seen bullish price action upon the blue upward sloping line of support. The blue question mark is where I expect to see another bullish bounce keeping an Ascending Triangle & Bullish Flag intact.
Keep an eye on the divergence that will likely emerge on the RSI if another bounce happens in the price & a rejection comes into confluence with the previous two rejections on both the RSI & price.
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!
[OGI] Pinned Down at Great Value... Load Up for Earnings!I know you guys are hungry for cannabis stock analysis so here we go!
Just ran through the stable and OGI is far and above the best value cannabis play right now. They also have earnings coming up on the 21st.
Its strong fundamentals make it one of my top 4 cannabis plays (APHA, TLRY and CGC are the other 3).
OGI and APHA are my top two long term fundamentals cannabis plays (TLRY and CGC fundamentals are a decent chunk weaker).
Honestly this thing is so erratic trend analysis is very noisy but the value here is clear.
Earnings whispers already signaling it could be a bit rough but there's also high chance of some positives that the FOMO crowd will latch onto and blow out of proportion.
Currently OGI is 1.5% of my portfolio and I'm looking to gradually scale in buys and ultimately double my position over the next week.
First buy target is tomorrow. I expect the market overall to start crashing down into August very soon and Fridays have been pretty weak for months now and OGI has been on the slide for awhile so will still hold off today.
If we get a FOMO spike, I'll probably end up selling off 40-60% in 2-3 20% increments.
Fully expect I'll have ample opportunity to rebuy well below whatever FOMO spike happens.
If no FOMO spike, no worries! This is a fundamentally strong company, you'd just need to wait another few months within which would be ample opportunity for another spike. If it crashes I'll continue re-upping 10-20% chunks in preparation for the next inevitable FOMO spike although the floor this stock has now set seems very strong and is well below the floor of other cannabis stocks (aside from maybe TLRY which has a pretty solid floor too). Also price is right on the floor, hence the great value here.
Ironically, their last earnings were a dud but last ACB earnings gave them (and the rest of the industry) a nice FOMO bump so any broader cannabis industry hype can easily bounce this thing around too making it a fantastic swing FOMO play.
Plant your seeds soon and lets hope for a bountiful crop after next week!
OGI was my 2nd idea on TView (now approaching 100 ideas!) and it held up pretty dang well (especially if we do get that predicted FOMO spike!):
Aurora Cannabis $ACB is getting ready for Moon MissionWell, cannabis stocks went through very rough couple years. They all were in accumulation mode for good part of 2019 and entire 2020. Accumulation is done and ready for take-off. Here is why:
- Few month ago we made new Higher High with possible Higher Low as of now.
- The reasoning behind Higher Low is a consolidation in the area of Fib levels 0.705 and 0.618.
- Price breaking out (or at least trying) from the classic BULLISH Pennant.
- Price extracted liquidity from fairly matured Order Block originated in 2016 Price Action with super High Volume.
- The volume even higher than previous bullish runs of 2017-2018.
- Other canna stocks are breaking out as well for confirmation. Looks like entire industry is ready for the move.
Invalidation:
- Price action breaks below HTF Liquidity Support and deeps lower.
- New Lower Low established.
Note:
- There is one area of concern (gap in price) right around Volume Area Low and HTF support. Price may deep into that area for quick grab to close that gap, but this area can be treated as part of bullish "Reversal Island" setup and may be avoided altogether.
As always this is not financial advise.
ACB BUY (AURORA CANNABIS INC)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current levels for buy.
Falling Wedge breakout.APHA has broken the downward sloping resistance of the Falling Wedge pattern outlined in blue flush to the upside, and upon back testing the area of resistance it's now turned into support.
Notice the higher high creation for the first time since 2018 ATH's?
The Green pattern in this chart is an Ascending Triangle, and upon break out of this pattern APHA has created a Macro higher high.
Any pull back in APHA would need to hold either the top of the ascending triangle upon a back test, or the upward sloping green line of support if there's to be continued bullish price action.
Ascending Triangle breakout for PLTH.Planet 13 Holdings is displaying a strong breakout of a Ascending Triangle.
Notice the difference in higher high creation on the RSI of this Ascending Triangle compared to the previous one in 2018 & early 2020 that played out bearishly.
I have colored the upward sloping support Blue on the previous ascending triangle, as opposed to Green on the current ascending triangle pattern breakout.
This chart is done on a log scale.
LHS appears to be trading in a Macro descending channel.Since LHS has broken down from a Descending Triangle in May/June 2019, the Dark Blue Line is the floor of the Descending Triangle FYI, we've seen bullish support near the bottom of the red downward sloping channel multiple times, I wouldn't be surprised to see a retest of the bottom channel again before breaking out of the pattern bullishly to the upside.
This chart is done on a five year log scale.
Is TNY trading in a Macro Ascending Triangle?TNY appears to be holding on to the green upward sloping support in this chart, the support is interestingly forming a giant Ascending Triangle.
Potentially merit for a Inverted Head & Shoulders, only time will tell.
Tinley has multiple upcoming operational updates that can influence these patterns to play out bullishly to the upside in a parabolic manner.
1. Canadian expansion of Cannabis-infused beverages & Beckett's.
It appears as though Canadian expansion for the cannabis-infused beverages has been held off until Tinley received their Long Beach License because Tinley expects to provide reciprocal co-packing referral services with a Canadian co-packing partner.
Updates on expansion to Canada are expected in August.
2. Some of Tinley's Co-packing clients will be announced in the near term because Tinley's Long Beach Facility received official licensing recently.
The company is now in a position to consummate agreements in its pipeline of prospective co-packing clients, apparently there are five, and the CEO has mentioned some of the deals will put Tinley on the Map. Mentioned in one interview is a National Brewery, a well known Winery, and some well known Cannabis brands & mainstream beverage brands.
3. Beckett's shelf placement regarding approximately 6500 locations of interest, commitments from 4 chains for August, at least 1 is rumored to be Costco.
4. Working to finalize initiatives with prominent figures in sports and
entertainment for marketing of Tinley products and co-packing clients’
products.
5. Expansion to Nevada.
Tinley has several bullish milestones that if completed in a timely manner can have a serious impact on the share price to the upside, and on the contrary if delayed, the outcome would be vice versa & a retest of 20c CAD seems plausible.
ACB Aurora Cannabis acumulationThis week let us a nice reyection at 12.27 (aprox), aligned with a nice old resistence now supprt.
The RSI have a nice S/R patter too.
If your not bullish with the volume + the monster impulse, ok, thats fine haha.
So, i'll be waiting for the bear to bull swap at 4h timeframe. to confirm this nice R/R.
Remember, it's all about nice Risk Reward oportunities. Trading its about reaction not preditction.
Cheers
NASDAQ:CRON P-Modeling Pt 1. Cannabis Hyperspace AgentsWelcome Hyperspace Agent...
This is Cronos Group Inc. I am a holder.
It is my belief...
That the entire cannabis sector has found their bottoms.
Give or take of course.. this is an approximation of the linear network. Bare Bones of Cronos Group Inc (CRON)..
Will develop further as we go..
The catalyst is the legalization of cannabis in the USA by executive order by a president that promised to do just that. ;)
_______________________________________________________________________
I do not expect to be spot on, however.. note the following..
Find the 'We are here bubble'..
Find the pink path.. This is the predicted path.
Find the white trend. This is the actualized trend at a 4 hour time-frame.
My proposition is that we follow with relative accuracy the trend in pink.
Let's call this Proposition A.
I do NOT have a proposition B at this time..
Trial and Error..
Failure is a necessary component of success..
Thanks for Pondering the Unknown with Me,
Glitch420
CANNABIS INDEX [NASDAQ:NQNACE]The Searching of a PotStockBottom II
NASDAQ YEWNO NORTH AMERICA CANNABIS ECONOMY INDEX
NASDAQ:NQNACE
RENKO
PriceLine Chart
RSI
RSI + MFI
Possibly a Head & Shoulders Breakdown for WEED.Canopy appears to have broken the base line of support of a micro Head & Shoulders, the blue line is where I have the base of support for the pattern.
The RSI is starting to creep into an area where WEED has seen support, the green arrows pointing to the right is what I am referring too.
Is TNYBF trading in a Ascending Triangle?Possibly a Ascending Channel , but on the RSI there is a noticeable divergence.
Ascending Channel for TNY?TNY has seen some consolidation into an Ascending channel, which is another Bullish Pattern coinciding with multiple other bullish patterns that have played out recently.
Noticeably the green bullish flag I have outlined is a recent bullish pattern, and there was also a giant inverted H&S that played out to the upside, the right shoulder being the green bull flag & the head of the pattern is the green human icon.
How long the channel has lasted will help determine the trend's underlying strength.
In the context of technical analysis, a channel occurs when the price of an asset is moving between two parallel trendlines.
A channel consists of at least four contact points because we need at least two lows to connect to each other and two highs to connect to each other.
Notice a possible divergence on the RSI?
