Marijuanastocks
TLRY Falling Wedge BreakoutDisclaimer: This is not financial advice, so buy at your own risk.
I am a shareholder of TLRY for the first time as of a few days ago. I watched this stock IPO and blast off from $30 to over $300 and then quickly melt down just as fast. But now it rests on significant support at around $38.90 based on my technical analysis and I see it slightly broke out of the falling wedge too. I like to hear the opinions of others, regardless of if you agree or disagree. I would like to find more evidence to support or disprove my thesis here.
Entry: $39 to $40 range
Stop Loss: $35 (or maybe a bit lower so you are inside the channel?)
Target: Who knows. Set a trailing stop loss and watch what happens.
HEXO, Keep waiting...Keep waiting for a clear MACD reversals if you want to buy. HEXO is testing its support and it's almost oversold... Also, for what it's worth, Hexo got downgaded from Outperform to Perform by Oppenheimer, but analysts are always late to call the shots IMO ... Follow what the trends say!
GWPH Profit Taking There are signs of profit taking at the new all time high of GWPH (tails, weak breakouts, reversal attempts). One more push up would form a nested wedge and a larger wedge reversal, increasing the probability of two legs sideways to down. If there is also a buy climax, it would form a parabolic wedge reversal where strong bulls will take windfall profits and strong bears will look to sell. If instead the bears start getting strong follow through with consecutive bear bars closing on their lows, the high will likely already be in. If this becomes the case, prices will begin testing lower, possibly all the way down to the 110 higher bull low and bottom of the large channel / bull flag trading range.
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CGC Two Sided TradingCGC is beginning to develop some two sided trading and transitioning into a broad bull channel / bull flag trading range. (All channels are a form of a slanted trading range and ultimately evolve into a large trading range). Prices are currently around the middle of the trading range, where the directional probability is close to 50/50. The high 2 buy setup a few weeks ago failed to get bull follow through. The bears want a test of the 28 low and a breakout below. The bulls want to keep the 28 breakout gap open as a sign of strength and create a higher low / large high 2. Prices will likely remain mostly sideways over the next several weeks or even months, as both sides fight for conviction and follow through in their direction.
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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.
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SMG 90/95 bull call spread With the July contracts, a 90/95 bull call spread can be placed for a debit of 3.97. This places our break-even at 93.97 on the July 20th expiry. The max profit of $102 per contract occurs above the upper strike of the sold call at 95.
We are bullish on both the technicals and fundamentals of SMG. The multinational corporation, known for its consumer fertilizers and pesticides and new expansion into hydroponic equipment for the marijuana industry, has been trading in an up-channel. 2019 Q2 earnings beat estimates, with EPS of $3.64 (.22 above forecasts) and a top line of $1.19 billion (greater than the estimated $1.16 billion). The biggest growth opportunity is in its Scotts' Hawthorne subsidiary, which provides various products (hydroponics, fertilizers and lighting systems) to the cannabis industry.
Is 3.13ish going to hold for a double bottom?Or, is more pain ahead for TGOD in what appears to be another descending triangle!
TGOD is down roughly 60% from its ATH's.
TGOD is down -52% in the past year.
TGOD +32% YTD
All Time Performance for TGOD -42.33%
Price target of 35c!
Time will tell per usual
I don't see any support until 51c! Double Top! And I don't think that dead cat bounce will hold if retested as a bottom.
Nom Nom Nom.....
Now we know why the last 3 Auditors left the company & they failed to report financials, they were ugly!
On Friday, May 31, a solid two months later than initially required, they reported a sh!t show. Then the stock tanked 18% to trade 80% lower than the 52-week highs seen in September last year.
17c by 2020.
After management attempts one last "pump" for edibles with a company that can't even spell chocolate properly, and was accused of scamming previous investors, c'mon.
Time will tell per usual.
What does CUSP.P have in common with 2 of the largest MJ Stocks?Bruce Linton & William Hilson, I made it easy for you lol.
They've had their eye on a specific company to takeover before they made this capital pool company!
Cronos Group has a 2.4 Billion Dollar investment from Altria Group.
Canopy has a 5 Billion Dollar investment from Constellation Brands.
Here's a link to Cuspis Overview, put www. before ollerheadcapital.com
ollerheadcapital.com/cuspis-capital.html
Same thing with this link to cusp.p shareholders, just put http:// before cdn.ceo
cdn.ceo.ca.s3-us-west-2.amazonaws.com/1e8i559-CUSP.P.png
Double Bottom?The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend.
Time will tell per usual.
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.
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Is the bottom in for Fire & Flower? Looking at the chart for V.FAF it appears as though things can only go up from here?
There's some speculation around Fire & Flower being acquired by Aleafia.
Interesting enough, Certain directors and officers of Emblem have interests in Fire & Flower. In particular, Harvey Shapiro, a director and the Chairman of the Company, is also a director of Fire & Flower. In addition, Mr. Shapiro owned approximately 19.5% of the Fire & Flower Shares outstanding and controls and directs approximately an additional 65% of the Fire & Flower Shares through a voting trust. Further, prior to giving effect to the offering, Maxim Zavet, a director of the Company, owned approximately 4.2% of the Fire & Flower Shares outstanding and Nick Dean, the President and Chief Executive Officer of Emblem which was acquired "Aleafia" owned approximately 0.3% of the Fire & Flower Shares outstanding.
Time will tell per usual.
Has Aleafia found a bottom?Aleafia is looking to retest a recent support that was made May 3rd.
If it holds then we will see a double bottom & possibly a reverse in the trend after the break through the descending triangle I spoke about in my previous post.
TNY is trading in an Ascending Triangle.On my chart I have support at roughly 66c & the next resistance at 75c & 86c.
Any material news will break Tinley flush out of this Ascending Triangle into a zone with very little if any resistance until $1.13 CAD.
Time will tell per usual.
Break of 3.80 takes us to 4.20For those who don't know, GGBXF (Green Growth Brands) is a CBD-focused brand heavily emphasized on having a retail presence. In my opinion, the growth of this company is inevitable. And once more attention is brought towards the company, a double digit stock price seems highly plausible.
In terms of the chart, we are in an uptrend currently but are having trouble breaking the 3.80 region. Depending on the other cannabis stocks, if we can continue to grow collectively, we should see a break of 3.8 towards 4.20. I have placed my buys right above the 3.80 region and will collect profits at about 4.18.
This beast is ready to roar again!looks like Cron is gaining energy again after a low volume pullback, so watching a break of that wedge to go long again.
$CHOOF - $ACB LARGE STAKE - MJ PLAY - 4/20$CHOOF - $ACB has a large stake, MJ play for April before the 4/20
Low float runner could go ballistic to dollars, slingshot daily is now in a confirmed uptrend. Golden cross is imminent.
CGC Stock Price Analysis: Chart Annotation for Traders.Conclusion of today’s CGC (Canopy Growth Corporation) analysis: Price closing below ~35.45 or 24.78 implies lower prices in Canopy stock price.
The purpose of today’s CGC stock analysis is to inspect the different chart patterns that can be identified in CGC (Canopy Growth Corporation) and their implication(s). Use of a logarithmic scale of the Daily timeframe reveals two (2) chart patterns which will be further discussed below.
A rising wedge (diagonal) in CGC is established by drawing a line across price peaks and also price lows with the most recent pivot used occurring between December 21, 2018 and January 2, 2019.
The ideal implication of the pattern is bearish, therefore indicating lower prices ahead. The second pattern up for consideration is the descending triangle chart pattern, which is also ideally bearish. The top boundary is established using price highs in October of 2018, February of 2019, and March 2019.
The lower boundary of the pattern is the horizontal line price level at 24.78.
It is important to note that the aforementioned price level also is the upper boundary of immediate support region anticipated in Canopy stock price upon a breakout below its wedge and 19.53 represents the lower support boundary.
A close below ~35.45 will confirm the wedge, whereas a close below 24.78 confirms the descending triangle.
The ideal scenario for both patterns as mentioned above is bearish, but that does not happen all the time. A great tip for using chart patterns is to carry out momentum studies, which can be highly invaluable in helping to guide trading decisions using chart patterns
Resistance & Support. Ascending Triangle Breakout?The news release from Tinley today was enough to test the resistance level at roughly 85c to 86c, which is the top of an Ascending Triangle!
It would be nice to see Tinley break through this resistance flush tmrw, Friday, or possibly next week & consolidate above the Ascending Triangle.
There's not much resistance until 1.13$ CAD if Tinley can breakout of this Ascending Triangle with volume.
We could be in for a Moon Shot everyone. Tinley appears ready to knock some public MJ Companies looking to enter the "infused beverage space" off of their High Horse!
Tilray Falling Wedge breakout soonAlthough having been bearish on TLRY most of the time, i today, stumpled upon this chart again and saw the falling wedge without even drawing anything.
Eventually we'll get a move down that closes within the lower blue line or something but generally this is very positive for the shorter term.
looking at 95-105$ range.
ps: yes, im charting this like a shitcoin
