Bullish news for the cannabis industry.Yesterday’s announcement of a movement towards cannabis legislation has been the best news for the industry since the listing of cannabis stocks. The THCX fund is newer and has a lower market cap then the MJ ETF, it also trades at a lower price making an attractive buy for retail investors. It’s holdings are:
APHA Aphria Inc 8.95% 603437
TLRY Tilray Inc 7.83% 333051
CGC Canopy Growth Corp 6.94% 172783
GRW. GROW GENERATION 6.44% 129468
GWPH. GW Pharmaceuticals P 6.16% 32626
VFF Village Farms Intern 5.96% 476411
CRON Cronos Group Inc 5.63% 514377
AMRS Amyris Inc 4.68% 444447
HYFM HYDROFARM 4.67% 62020
Technically speaking, yesterday surge In volume along with positive news is driving the stock higher. If we manage to have a positive close 1/4/21 this could be the start of accumulation, and a move to complete the rounded bottom and test the IPO price, here a cup and handle, or a continuation of the uptrend do to social media, new retail investors, hype, super positive outlook could form.
Holding shares
CGC
Short CGCCGC has hit the 62% retracement of the downmove. Cyclically we have also hit a turning point which indicates a high. The stock should fall to about $25 by March
SNDL LONG - Looking for a bottom, starting accumulation at .56I've been watching SNDL and some other cannabis plays, ACB, TLRY, and CGC.
I like this company as it's debt free and looking toward future growth.
Starting to accumulate at .$55 and looking at 20-30% gain from these levels in the next two weeks.
CGC Continuation Idea BUY SIGNAL I have previously called a buy on this stock at $24.30. It is up 53% from our first call on Nov. 6,2020. I am still looking for more buying power to come with this stock in the future. We will be holding our positions long term for this one.
CGC - Trade Reversal and Bull Flag (Etoro Portfolio)Price cross above MA200 (black line) and formed a uptrend till 29.50 price.
Typical bull flag (or the power flag), build up approx. 18 trading days.
The 18th day's volume (6.744m) slightly increased and higher than previous days.
The price rejection : one white soldier breakout the trendline draw from top, MACD and RSI also appeared buy signal.
I have a position @CGC with 2R taking profit.
IBD's RS (Relative Strength) = 88, Industry Group Rank = 21 / 197
=======================================================================================================
I will be popular investor in Etoro, take a look of my portfolio and copy me to start the trading journey.
My Etoro Profile:
www.etoro.com
Etoro Registeration Link:
etoro.tw
[TLRY/APHA] Get in Sub-21 Before PRICE Goes Up Like SMOKE! B)-~APHA was my #1 Cannabis play going into this year based on the fundamentals and it's held up very well, still my #1 long term pick today (along with tangential Cannabis play IIPR).
That was followed by CGC and ACB with TLRY coming in at #4. Now with my #1 and and #4 plays merging and largely rounding out their strengths and weaknesses, it is an even stronger #1 by a factor of 1, maybe 2 over each CGC and ACB.
Amazingly, TLRY is still dirt cheap sitting at 3% of it's $300 peak a year ago lol.
Price is even UNDER its IPO and BELOW its Value Channel here (magenta). Seems impossible it goes under $2 now so max temporary downside is very constrained.
TLRY now the Best Value Cannabis Stock out there supplanting long reigning champ OGI, which is my #5 play overall but quite underpriced ATM relative to the market.
I'm lookin to scale in most my position before $21 and watching it float up like smoke!
Aurora Cannabis - Mother of all Squeezes (100%+ upside)ACB about to go parabolic. Similar to Tilray, golden cross about to form between 20 and 200 day moving averages.
The last impulse rallied just shy of 250%, or $10 usd.. With the blue wave on our backs, we should easily see the same impulse of $10 which brings us to $22. There's a gap looking to be filled between $20-$24.
This stock is a Robinhooder's dream. Target price set to $24.
If the rally in the MJ sector continues, we could easily see $26, $31, or $46 in days.
KEEPING IT SIMPLE $SNDL POSED FOR 135% UPSIDE.Check out my previous analysis on TLRY, same idea. More legalization talks around cannabis this year with Democratic majorities in the U.S government. Potential buyout here as well.
HIGH TIGHT FLAG Pattern for APHA - Extremely BullishWe witnessed the impossible last week with the Democrats taking control of the Senate. Technical, fundamental and political environments are in perfect sync and there will be a cash grab by institutions very shortly for all MJ stocks.
HIGH TIGHT FLAG pattern has been detected for APHA. This is considered a rare and extremely bullish pattern (what happened to Zoom during Covid lockdown). It begins with the SP moving 100-120% in <8 weeks (1st pole), followed by no more than 25% pullback <5 weeks (flag/pennant), followed by quick retracement. Once the pole is broken, a 2nd pole is formed which moves 50-60% within the same timeframe as the 1st pole.
I noted APHA’s numbers on the chart. TP is $13 in 35 days. This pattern was also detected for CGC ($44 TP), VFF ($18 PT), TCNNF ($47 PT). If you own any of these stocks, DO NOT SELL. Institutions will be fighting over these stocks which will drive the SP through the roof.
Validation on my hypothesis needs to happen Monday/Tuesday, Jan 11/12! Volume and price movement must be massive otherwise pattern will fail. If Fed gov’t cooperates and MORE Act passes with ease, this pattern will continue to repeat.
Check out US Steel, currently forming its 2nd pole. TP $30 by end of this month.
$CGC - engulfing green candleGot in before the last gap up, may add more now. This looks strong. Weed stocks may be the obvious call for 2021, but damn it may be a great call. This green candle taking out the past two days. #BULLISH
$CGC - perfect bounce off new supportA little dip today. Unfortunately couldn't add, but I would have.
Possible CGC shortCGC may be breaking out to the downside of this precious upwards channel. It could test 23-24 price range before a possible bounce back up. Long term fundamentally bullish but short term bearish on this one.
CGC Lost Daily MA21Lost the degree. Looking for a correction. Possible bounce at $23.50-$24 zone, then up for a lower high.
CGC - Never Looked Macro BullishThose of you that have followed me for a while, know that I am long term bearish CGC for two simple reasons: overvalued and corrective structure.
CGC made an ABC off the March lows, which suggests that we should expect at least one more low before a sustainable break higher.
We lost the degree for the impulse wave up. We were anticipating a move to the $32-$35 range, but bulls are running out of time and support. We lost the hourly MA50, price action moved outside the bullish channel. There is a chance that wave 5 truncated at $29 resistance.
Daily charts show a bounce on MA21. The way I see it, is that losing Friday's low next week (losing the daily MA21) would see continuation to the downside.
Either way, as I have clearly shown in previous charts, when this current move reaches its top, I am expecting a retest of at least the $18-$20 range. This assessment is valid for ALL Canadian assets that made an ABC bounce off of March lows.
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.
$CGC $WEED Marijuana Just Federally Legalized!!!!! With the federal legalization, Canopy will be on it's way to become a behemoth in the industry, buy on any weakness. They will have a bright future with Constellation Brands backing them. Watch for these resistance areas to be broken in the future. We are on the way back to the top. Get in while you still can.
Developing trade cannabis market All cannabis stocks about to become daytrading gems again. Buy the rumour selll the news.
Good luck!
The bigger picture for weed This is a 1-month chart, which enables us to see the very long-term trend.
Honestly nothing is really happening yet, we maintain a consolidation for almost a year, after a long-term heavy decline.
Fundamentally, nothing has shifted yet, but it looks like there is some interest with Biden getting nominated.
Stocks are undervalued; that doesn't mean they can become even more undervalued.
I am watching them, but don't feel the time is right yet. If you don't want to miss out, buy a 25% of what you would normally. I am keeping them on a watchlist.
