With the recent pump and dump on the Safe Banking rally, it has become visible that most of the pot stocks sector is in a corrective state, setting up for a cycle correction. GTBIF appears to be in a triangle and will look to correct this triangle in the coming weeks/months. For the most part, I would be alerting myself in the "loading zone" with a potential...
I used stare at charts and colored bars and tried to find shapes to figure out the next move. Guess what, I missed out on a lot of easy opportunities to hold and ran scared out of good stocks because I didnt understand growth valuation. Stocks will do things that dont make sense on the charts. Stocks are businesses. We really need to understand the companies...
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...
One of the "themes" I have been watching for 2022 is the possible resurgence of pot stocks. Every year has its theme and "anything can happen." Over the weekend I watched a short Vice documentary following the current state of legal (and illegal) weed in California. You can watch here: www.youtube.com We can chalk this up to "unintended consequences" where...
ACB, APHA, CGC, CRON, GTBIF, TLRY are in my Cannabis watchlist. I am bullish on APHA and GTBIF. MJ is a more conservative approach to capture the gain with limited downside risk. Ladder buy within the demand zone. Set the stop loss 10% to 15% below the demand zone for the swing to intermediate setup.
GTBIF moves to test the critical $10.50 area as the Ichimoku Cloud turns green for the first time in months. Volume has been growing and the cannabis space is heating up, with GTBIF clearly now a leadership name.
GTBIF dipped under the long-term $7 support shelf all the way down to $3.75. And there came the big bottom. Now, look for that shelf to be retaken as the company posts 300% top-line growth.
Comparing the stock performances of familiar US MSO's to the SSO Liberty Health Sciences so far in 2020. LHS still holding a 7% gain with Curaleaf @ 3% even after the recent week of sector selling. Can't say the same for the majority of their peers though.