HMMJ
LONG set up in ABCN (TSX)nice consolidation here. 1.70 trigger long on the break of the three recent peaks (better seen on daily
$Weed Triangle break out and Fib levelsTriangle break out and Fib levels, $33.60 is Fib level .382 , RSI not overbought on daily, so it could run another day here. 3rd senate reading June 7th. ACB bought Leaf for 3 billion. Look for higher low to form, then enter if you are not in yet.
HMMJ - Canadian junior LP's triangle breakout?Triangle pattern might be ready for breakout after 2nd senate reading passed 44-29 votes. 2 more months until 3rd reading in June.
Long HMMJ.ca (TSX)Long marijuana sector here. Waiting for volume to further confirm. Great risk/reward here.
APH - Long term bullish pennant, short term consolidationLong term bullish pennant, short term consolidation. 2nd senate vote (reading) for bill c-45 is expected in march, 3rd vote in june. Watch volume in $Mj , the US weed etf. No volume in sector ever since end of january. Watch weed as well, the lead company.
HMMJ - Descending channel, support and resistance levelsIf hmmj closes below $18.15, I think it gap fills down to $16.94. If it closes above $19 , the upper trend line with volume. Then, it would be bullish. Legalization senate votes schedule - March and June. Follow the $MJ stock, there has been no volume since the markets sold off end of January. Need the US buyers to come back...
Canopy - descending channelCanopy is in descending channel, gap fills to lower trend line. $24.80 , Earnings is Feb 14th, might get a bounce. Bad news from govt about possible legalization delays and feb is not good month for sector, like 2017.
HMMJ nice RvR on the 15min HMMJ appears to be consolidating along side the whole CDN cannabis sector. I'm just paper trading to get a feel for this ETF during this consolidation.
HMMJ: Marijuana dips dont scare me The marijuana sector is blowing off some smoke after the latest toke up party. The sector is news fueled and volatile but has many buyers on the sidelines so I expect dips to continue being bought. I am a buyer of support levels and a seller of major spikes when we're clearly over extended.
Supports:
1) 13.83
2) 12.00-12.15
3) 11.13
Sell targets:
Over-extended rallies where daily RSI is 70+ and we're showing weakness on 1-4 hour timeframes.
