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$MJ - #MJ ETFMG Alternative Harvest ETF on FIRE!?ETFMG Alternative Harvest ETF MJ tracks the Prime Alternative Harvest Index, designed to measure the performance of companies within the cannabis ecosystem. The MJ Alternative Harvest ETF (MJ) has been rallying lately in relation to news on federal legalization and the SAFE Banking Act. On August 30, 2023, the U.S. Department of Health and Human Services (HHS) recommended that cannabis be rescheduled from a Schedule I drug to a Schedule II drug. This is a significant development, as it would make it easier for researchers to study the medical benefits of cannabis and for businesses to access banking services. The SAFE Banking Act is a bill that would provide legal protections for banks that service cannabis businesses. This bill has been passed by the House of Representatives, but it has not yet been passed by the Senate. The rally in MJ stock is likely due to investor optimism that federal legalization and the SAFE Banking Act are both becoming more likely. However, it is important to note that there is no guarantee that either of these bills will be passed. In addition to the news on federal legalization and the SAFE Banking Act, there are other factors that could be contributing to the rally in MJ stock. These factors include: The growing popularity of cannabis for medical and recreational use. The increasing number of states that have legalized cannabis. The growing global market for cannabis. It is important to do your own research before investing in MJ stock or any other cannabis-related investment and this information is not investment advice. The cannabis industry is still in its early stages of development, and there is a lot of uncertainty about the future. However, the potential rewards could be significant if the industry continues to grow. GANN FAN display showing angle resistance and possible support/resistance flip at $4 USD. Next long target $8. Good luck and always trade responsibly!
AMEX:MJLong
by btcbiff
MJ Up in smoke?ETFMG Alternative Harvest ETF We have been tracking the MJ ETF for many years now. Club members want to know when the price action turn around will happen as cannabis industries continue to boom in the US while congress seems to be stuck in the mud regarding the legislation needed to move forward with a legal federal charter. 100s of billions of dollars worth of products are waiting to be federally recognized as legal. Thousands of legal businesses are awaiting a SAFE banking charter reform act to be adopted. Until then, we sit and watch patiently as price hold the 4.44 level (4.20 bottom in?) The good news is the bottom white line is zero and we can guarantee it wont go past that. Outlook: Hold strong if long in our humble opinion Range: $4 - $8 Short term neutral - accumulation Long term this industry will explode with a catalyst like US federal legalization.
AMEX:MJLong
by btcbiff
5
MJ ETFMG Alt Harvest ETF primed for support bounce!I am finally back from vacation so I can start to post more TA again! I wanted to do some TA on a solid pot ETF I found a few weeks ago that appears to be loading up for a support bounce. MJ ETFMG Alt Harvest is a ETF made up of a bunch of high quality pot stocks. If you go to yahoo finance you can see everything in the holdings basket. From a TA standpoint MJ has everything going for it to be on a uptrend reversal. Price has fallen for roughly a year now and if we look at previous lows $9 was the ATL. Current price is around $11 and its ATH got up to $45 in Sept 2018. Now while we may not see an ATH in the near future, but i certainly see price growth potential at least doubling from here within a year. If we look at the MacD on the 10h we are primed for a climb. The total visible range shows us most investors understand an average price of $14. Now while we arent oversold completely on the RSI we dont necessarily need that in order to understand this might be a basic support bounce. With the economy raging into hyper inflation we could see a domino effect of harm to the economy that would increase MJs price naturally; depressed times shows a major increase in substance use. I will personally be going in on this and several other ETFs soon, I wanted to share this one with you guys because of the potential I see in it. I hope you all had a great holiday everyone! Let's make this coming year a profitable one! -DiMarco
AMEX:MJLong
by ConqueringCrypto
MJ Trending UpETFMG Alternative Harvest (NYSE: MJ ) What is ETFMG Alternative Harvest? An ETF that acceptance of various uses of the cannabis plant such as pharmaceuticals, biotechnology and life sciences, JesusTrade Score: Buy Scale Score: Low (3/10) Portfolio Hold: Yearly Hold Fundamental Reasoning: The following below are the top 10 holding for MJ: GW Pharmaceuticals PLC Sponsored ADR (GWPH) Aphria Inc (APHA) Aurora Cannabis Inc. (ACB) MediPharm Labs Corp. (MEDIF) Cronos Group Inc (CRON) Corbus Pharmaceuticals Holdings Inc (CRBP) OrganiGram Holdings Inc (OGI) Canopy Growth Corporation (CGC) Tilray, Inc. (TLRY) Swedish Match AB (SWMAF) All of these but Tilray and Swedish Match have bullish diverange and have broke out. Tilray could just follow the hype of the other stocks and Swedish Match has been having an up trend since March of 2009 and has about $30 more to run. With mojirty of these stocks being worth less than $10 or even $5. I don't see why the volume wouldn't be coming in. On google trends there an increase of cannabis and cannabis companies being searched. which gives me a idea that new buyers could be coming.
AMEX:MJLong
by Jesus_Trade