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CRON

ACB Moving into Earnings todaySlight bearish convergence on the Stoch, and also RSI indicating a possible hourly pullback. Earnings are guided, so the revenue figures are not very likely to drive the price upward. We're looking for profitability. ACB predicted Q4 profitability. The press release issueing earnings guidance only mentioned that they are moving closer to achieve positive EBITDA. Any disappointment on that front will see ACB retest key support at $5.89, and possibly the lower $5 range. ACB is currently at the top of its downtrend channel, after a nice bounce. Bulls are looking to break $6.30 on large volume to see the price move back up to test $6.65 and $6.83. Regardless of all the positive news and change in broader market sentiment, not a single pot stock has posted a higher high above a long term downtrend. I feel that all of the past few days' moves, has been correctional, and not neccessarily bullish. I do feel, however, personally, that the current price levels present excellent buying opportunities for long term investments. If your time span is 4 to 5 years, then ACB, APHA and CRON are buys. CGC, on the other hand, could still have significant downside. I think that the King of Cannabis is about to be de-throned. Has anybody considered Creso Labs, btw. No debt, pure USA play, excellent pressence, and much worth a closer look. Please share your thoughts?
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by Barkworth
7
CRON - ShortingDon't get me wrong, overall I am bullish on this stock. Coming up, however, we are due for a correction from a market driven largely by news / media. Check the financials. Keep in mind everything from 1/28 -> on could be artificial movement due to Kramer calling it out on TV. I would expect quite a big profit taking coming up, wouldn't be surprised by a drop of 38% from current rise ($14 price), or even more, before the strong resistance kicks in. I love this stock (bought in at $7.62 / pre Altria) but all rides up have their downs. 2 things to look at on longer charts. 1D, and 1W. Developing rising wedge - unavoidable from recent news attention. Bearish Divergence seen in the RSI. Overbought, and decreasingly so. My sell limit is at a conservative $20. However, it may be reasonable to expect a $22-24 price before the correction. I have charted a Fib Retrace from current low, expecting a 38% profit taking. Keep in mind, if the price goes > $19.50, the Fib Retrace needs to be adjusted for newer buy targets. Currently, I am looking at nice round numbers of $14 (best estimate), $12, or $10 (least likely). At least we have our Resistance levels marked, if there is a correction.
NASDAQ:CRONShort
by Shwayze
$OGI Showing Signs of a Bottom Despite Continued Sector Rout$OGI has held the 200DMA as support the last two trading sessions & on July 15th. Hammer candle was put in on 7/29 followed by a bullish engulfing signal today. OGI current trades at a 10x P/E 2019 revenue and a 3-4x P/E on FY2020 revenue estimates. We see several near-term catalysts for $OGI and feel the stock will benefit immensely once the current industry chaos settles down (CTST, APHA, HEXO, etc) The company announced July 15th, it developed a Rapid-Onset Nano-Emulsification Technology for Cannabis Beverages with an initial onset of 10-15 mins vs 60-90 mins on average. The company also clearly told the market they're actively seeking a beverage partner & is for sale. Management has proven they can execute with positive adjusted EBITDA 4x Qs in a row, minimal dilution to shareholders vs peers, disciplined w/ expenses (No $600M losses here), and a very transparent with investors. $OGI management won't pump the stock & give unrealistic guidance like some of its peers, $OGI is focused on building an operationally sound profitable cannabis company in Canada & Internationally. We expect $OGI to get a lot of attention from institutional & retail investors state-side in 2H 2019 as investors begin to pay more attention to market caps, margins, profit/loss, etc. The industry is maturing very quickly and we believe investors will begin to see $OGI as a Top 3 LP. Time will tell... ***Disclaimer: I am long $OGI. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.***
NASDAQ:OGILong
by cb035
1
Long on CRON after bounce off trend lineNASDAQ:CRON Illinois recently made huge progress by being the first to legalize marijuana through state legislation. I think this is going to be the turning point for legalization across the United States, and potentially even federal legalization sometime in the next couple years. The whole gay marriage thing did something similar a few years back, and I think we're going to see the same thing here. Slow progress, sudden progress. CRON just bounced off a trend line, and is heading towards a trend confirmation line. It may retest this lower trend line, but it will do so with a higher low. I believe we'll see this gain the 63% back to retest highs before breaking through on to new highs. This 2 year uptrend is mighty convincing. I think this is a great entry for a long.
NASDAQ:CRONLong
by pobudz
1
TLRY Bull Follow through from parabolic wedge bull flag So far this week is a bull follow through bar. The bull breakout gap is still open below. The bulls will likely get two legs sideways to up even if only a small rally and test of the 78 tight trading range. If the bulls get strong consecutive bars over the coming weeks, it will increase the likelihood of a second leg up and test of the 160 high. If instead, the rally is week, the bears will look to sell around the 100 lower high and once again try for a test of the open. If you found this helpful please like and share. Feel free to comment or ask questions.
NASDAQ:TLRY
by tradersmentality
ACB 50/50 Probability - Breakout ModeACB NYSE is currently in the dead center of the bull flag trading range, and a converging triangle. This is where the directional probability is very close to 50/50. However the bulls have a slight advantage because it is a bull flag trading range, and there are bull gaps below. Prices are currently stalling at the failed bear reversal, where trapped bears may soon buy and contribute to a rally. However there is no valid but setup yet this week. The Bears want a test of the 5 low, and to fill the bull breakout gap. If this gap is filled, it will decrease the bull strength and prices will likely remain range bound for the next 20-40 bars. If instead the bulls keep the breakout gap open and form a higher low in the coming weeks, it will increase the probability of a test of the all time high and possibly bull trend continuation. But since prices are in a trading range, there will probably be some profit taking and short selling at a new all time high, unless the bull rally and breakout is exceptional. If you found this helpful, please like and share. Feel free to comment or ask questions.
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by tradersmentality
HEXO Bull Profit Taking HEXO reversed down from a nested parabolic wedge, larger wedge and large low 2. The follow through selling has been good. The bears will likely get a second leg down before taking profits and before the bulls will look to buy again. This market is still in a bull trend, but wedges often lead to two legs sideways to down, convert the market into a trading range (atleast temporarily), and sometimes reverse the market into a bear trend. The bulls will look to form a double bottom or higher low around the $5 low. They will need to keep the bull breakout gap open in order to defend the strength of the bull trend. Otherwise prices are more likely to convert into a bull flag trading range. If you found this helpful, please like and share! Feel free to comment or ask questions.
TSX:TLRY
by tradersmentality
3
ENPH Test of all time highThe buying pressure has been strong over the past few months on a test of the all time high. But this market is still in a large trading range, and the buying pressure is climactic. This is more likely a buy vacuum test of the high of the range than the start of a strong bull trend. Instead, there will probably be profit taking around or above the all time high which is just above. The bulls will need a strong breakout above and follow through before a trend is likely to begin. The bull gaps below around $10 will also likely need to be tested first. If you found this helpful, please like and share! Feel free to comment or ask questions
NASDAQ:ENPH
by tradersmentality
ZYNE strong bull breakout or trading range?Although $ZYNE is developing some bull strength, it is still in a large bear trend or trading range. The bulls reversed the market up on the monthly chart from a large high 2, and will probably get some form of a second leg up. However since the IPO this market has been sideways to down, decreasing the likelihood of a strong bull trend developing. The bulls need strong follow through above the 25 lower high and a strong breakout above the all time high in order to convert into a bull trend. Instead, there will likely be resistance around the $23 bear gap, bulls will take profits and bears will try to form a lower high and bear trend continuation. If you found this helpful please like! Feel free to comment or ask questions.
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by tradersmentality
Lessons From an Experienced Trader #2Lesson 4     Know what you want in the market  Contrary to what most believe, successful traders do not actually trade constantly.  Attempting to trade constantly leads to increased commission costs, random trading, and compound mistakes.  In fact, successful traders spend most of their time doing absolutely nothing!  How long does it take to enter an order?  A click of the button.  A few seconds.  Maybe a few minutes at most to create bracket orders.  So what do Professional Traders do the rest of the time?  They wait.  They wait until the market offers what they want or are looking for. Then after entering they wait some more to see if they are right.  They wait for the market to provide them with the information to either hold, or exit. They allow themselves to Be, the trade to Be, the market to Be and do what it is going to do.  They do not force actions or attempt to make the market do what they want.  They wait until the action comes about on its own, until it is natural, a reflex.   If you do not know what it is in the market that you are looking for, you will fold under pressure and confusion.  A Professional Trader knows exactly what he wants (not just to make money), he knows what he is looking for in the market, and is willingness to wait for it to arrive.  By doing so, he is rewarded and paid by the market for his patience and willing to do nothing.  Even if this means not trading for hours, days, or even weeks depending on the time frame.   It is far better to do nothing and avoid unnecessary losses, than to try and create tensions, forced actions, and lose money.  You have to ask yourself "What is more important?  The actual act of trading, or making money?" Lesson 5    Define your edge An edge is what you have defined as being what you want from the market in the previous lesson.  This can be anything from a specific setup, to just plain context like a strong market.  If you do not know what your edge is, you will struggle to perform consistently due to randomness. Many new traders, especially those who follow price action, believe they should be able to trade the market no matter what the context is.  If you think you are just going to walk in to the market, trade based on whatever the market is doing and make money; you are fooling yourself.  Doing so will lead you to trade randomly, entering willy nilly at the market, and make many mistakes which will cost you your profitability.   Do you walk into Walmart or Aldi's without knowing what you want to buy until you get there?  No, you have a list of items, or at least an idea of what you need before you go.  Do you start a business because you woke up this morning and thought it would be nice to own a car wash?  Hopefully not.  You first identify an opportunity, and then create a business model after a lot of research.  Then finally you open the business. Of course everyone thinks or says  "well so and so does this and that, and he seems to be making money."  Sure, maybe he is, maybe not.  If he is, he has defined his edge and is simply employing it.  What someone else does has absolutely nothing to do with what you should be doing.   Once you have defined your edge, you must wait for it to arrive.  If the market is not offering what you want or what your edge calls for, you do nothing until it is.  If your edge is a trend trading method and the market is in a trading range, you do not trade until the market is trending.   If you have not clearly defined your edge, you should not trade.  If you do not know what it is in the market you want and are looking for, you have no business in the market.  Simple as that.  If you chose to do so, you are putting yourself at unnecessary risk and trading randomly. Yes this sounds harsh, but it is the reality of the market.  The market will not give you anything, especially if you don't even know what it is that you want!
CME_MINI:MES1!
by tradersmentality
TLRY Weekly Analysis Parabolic Wedge Bull FlagTLRY has formed a second entry for a parabolic wedge bull flag and larger high 2, although a doji bar. If the bulls are unable to regain control soon - something is wrong with the bull trend premise. If the bulls do not return within the next few weeks, prices are more likely to be in a trading range and will likely test the tight trading range of the open around $25. If the bulls do generate strong follow through, they will likely get two legs up at minimum, and possibly bull trend resumption.
NASDAQ:TLRY
by tradersmentality