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APHRIA price crashing after credible allegations levelledAPHRIA is under a short attack, and down 40% in two days after credible allegations have come out about fraud, stealing investors money, and dilapidated international facilities. I have no way of knowing if these allegations are true or not, the truth is probably somewhere in the middle, but the video is very damning. The short seller took a flight overseas and did boots on the ground due diligence, gave a 47 minute presentation, and took questions form the audience. Aphria hasn't responded to the allegations and their stock price is crashing as a result, and will likely continue to until they can stand up and give credible evidence to refute the allegations. Please watch this video, whether your in APHA or another stock in the sector, so you are aware of what's going on and make your own decisions. Keep in mind this drama is a millstone on the entire sector, and other names in the sector are having correlated bearish reactions to this problem facing Aphria. www.youtube.com
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by McGuireTO
9
APHA surges on Jeff Sessions' ResignationBig move today following a tweet buy President Trump that he has accepted the resignation of Attorney General Jeff Sessions twitter.com This came after a clear hourly bear break across the sector singling some daily consolidation was coming, but this breaking news clearly sidetracked that plan and delayed consolidation for at least a little while. I am closely watching for the hourly trend to change as the daily chart is very over extended right now Key levels for tomorrow: S: 16.03 R: 17.33
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by McGuireTO
ACB surges on Jeff Sessions' ResignationBig move today following a tweet buy President Trump that he has accepted the resignation of Attorney General Jeff Sessions twitter.com This came after a clear hourly bear break across the sector singling some daily consolidation was coming, but this breaking news clearly sidetracked that plan and delayed consolidation for at least a little while. I am closely watching for the hourly trend to change as the daily chart is very over extended right now Key levels for tomorrow: S: 9.59 R: 10.75, 11.29
TSX:ACB
by McGuireTO
2
CGC surges on Jeff Sessions' ResignationCGC saw a huge move on President Trump's tweet that he has accepted the resignation of Attorney General Jeff Sessions twitter.com This came after a clear hourly bear break singling some daily consolidation was coming, but this breaking news clearly sidetracked that plan and delayed consolidation for at least a little while. I am closely watching for the hourly trend to change as the daily chart is very over extended right now Key levels for tomorrow: S: 45.10 R: 48.13
C
by McGuireTO
3
APH hourly equilibrium on watchThe oversold bounce is starting to feel toppy with a bearish reversal candle on the daily and declining volume. The high of the day rejected from the 20MA and we're in an hourly equilibrium now to determine if we're going to see bounce continuation or set a higher low on the daily chart. I would also look towards Canopy for clues on how the sector leader breaks. Key levels for hourly eq: S: 14.65 R: 15.54 _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market and the analysis I do on SPY. The correlation of every individual name and sector to the market is very real and affects every stock you own.
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by McGuireTO
ACB hourly equilibrium on watchThe oversold bounce is starting to feel toppy with a bearish reversal candle on the daily and declining volume. The high of the day rejected from the 100MA and we're in an hourly equilibrium now to determine if we're going to see bounce continuation or set a higher low on the daily chart. I would also look towards Canopy for clues on how the sector leader breaks. Key levels for hourly eq: S: 8.63 R: 9.12 _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market and the analysis I do on SPY. The correlation of every individual name and sector to the market is very real and affects every stock you own.
TSX:ACB
by McGuireTO
CGC hourly equilibrium on watchThe oversold bounce is starting to feel toppy with a bearish reversal candle on the daily and declining volume. The high of the day rejected from the 100MA and we're in an hourly equilibrium now to determine if we're going to see bounce continuation or set a higher low on the daily chart. Although we have some new levels from after hours, there was minimal volume there so I am not giving those much credibility. Key levels for hourly eq: S: 35.85 R: 37.77 _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market and the analysis I do on SPY. The correlation of every individual name and sector to the market is very real and affects every stock you own.
C
by McGuireTO
Aurora bulls buy the gap down openQuick updates tonight. ACB had a big gap down and giant bounce in the first 30 minutes of trading, and remained in an hourly equilibrium for the remainder of the day. Bulls made an attempt at a new high of day in late afternoon but came 4c shy of resistance. The end of the day saw SPY with big bull move finishing up near the high of the day on the strength of both the tech sector and financial sector, while Canadian MJ was unable to derive any momentum from the this move. That does give some reason for concern with bulls being so close to resistance but unable to break it. Tomorrow first thing the bulls want to break our two hourly resistances in order to see bounce continuation. Failure to do so a second time would be a red flag. Key levels: Support: 7.55 Resistance: 8.16, 8.20 If the bulls find the momentum to break this range and see continuation on the hourly bounce, we would look for a 4hr lower high compared to 11.29. There are numerous hourly resistances on the way up to that level, giving Aurora several more hurdles that Canopy and Aphria don't have to deal with. _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market and the analysis I do on SPY. The correlation of every individual name and sector to the market is very real and the market has been showing significant weakness over the past four weeks. This correlation affects every stock you own.
TSX:ACB
by McGuireTO
2
Aphria sees the largest bounceQuick updates tonight. APH saw a 12% bounce from the low of the day today and after the first 30 minutes, gave a whole lot of nothing. Aphria may have enjoyed the largest bounce today, it remains positioned weaker than Canopy heading into tomorrow. We spent most of the day inside an hourly equilibrium that has yet to set a higher low compared to the low of consolidation, where as Canopy has clearly set that higher support level. The end of the day saw SPY with big bull move finishing up near the high of the day on the strength of both the tech sector and financial sector, while Canadian MJ was unable to derive any momentum from the this move. That does give some reason for concern with bulls being so close to resistance but unable to break it. Tomorrow first thing the bulls want to break our two hourly resistances in order to see bounce continuation. Failure to do so a second time would be a red flag. Key levels: Support: 13.00 Resistance: 13.85, 13.95 If the bulls find the momentum to break this range and see continuation on the hourly bounce, we would look for a 4hr lower high compared to 16.77. _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market and the analysis I do on SPY. The correlation of every individual name and sector to the market is very real and the market has been showing significant weakness over the past four weeks. This correlation affects every stock you own.
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by McGuireTO
5
Canopy leads MJ sector bounceQuick updates tonight. CGC saw a 10% bounce from the low of the day today and after the first 30 minutes, gave a whole lot of nothing. We spent the rest of the day inside an hourly equilibrium that we're waiting on the break of for either bounce continuation or on another leg down to potentially lower lows. The end of the day saw SPY with big bull move finishing up near the high of the day on the strength of both the tech sector and financial sector, while Canadian MJ was unable to derive any momentum from the this move. That does give some reason for concern with bulls being so close to resistance but unable to break it. Tomorrow first thing the bulls want to break our two hourly resistances in order to see bounce continuation. Failure to do so a second time would be a red flag. Key levels: Support: 33.05 Resistance: 34.47, 34.92 If the bulls find the momentum to break this range and see continuation on the hourly bounce, we would look for a 4hr lower high compared to 40.00. However there is a lack of resistance after 34.92 so could see some nice follow through _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market and the analysis I do on SPY. The correlation of every individual name and sector to the market is very real and the market has been showing significant weakness over the past four weeks. This correlation affects every stock you own.
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by McGuireTO
1
Aurora nears daily oversoldACB continued its recent pattern of lower lows, dumping the whole day and closing down over 16% in one of the most stand-out bearish days this sector has seen. There is no doubt in my mind this weakness is in large part to the overall stock market dumping for the past four weeks, so be sure to keep an eye on the correlation to SPY. We've now given back 80% of the run up from August 14th to all time high over the past 10 trading days. Where we stand, Aurora has a lack of support here. Regular readers know I anticipated a bounce before our key weekly level 7.65, which we broke today by 10 cents. This was very unlikely to happen, which speaks to just how weak this chart is. The daily RSI is approaching oversold, and is the lowest level it's been since August 14th. I'm now anticipating an oversold bounce. Why do I anticipate a bounce in the very near future? RSI levels on multiple timeframes are currently at or near historical bounce levels: Daily - 30 4hr - 21 1hr - 21 If you did not stop out on one of the bear breaks over the past two weeks, now isn't the time you want to sell your position. Instead, you probably want to wait for a bounce to get underway, as we are likely to see at least a couple days of follow-through. Of course, if your mindset is to hold your position for years, then stop checking the price every day or you will drive yourself crazy. In my opinion, the bounce will not start until the CGC bounce starts....which will not start until the S&P bounce starts. If you are one of the people who have asked me over the past couple months about a good time to buy Aurora, these conditions are ideal for starting to SLOWLY scale into a long term entry you plan to hold for years. Just be sure not to invest all your money at once. Keep in mind we have no more upcoming catalysts for the sector, and the correlation to the S&P500 could mean several months of continued downside for ACB. I'm looking at the 1hr chart right now for our levels. We remain in a downtrend with clear lower highs and lower lows Key levels to watch for trend change/continuation Support: low of day 7.55, 6.67, 6.07 Resistance: 9.38, 9.88, 10.07 While Canopy and Aphria have a lack of resistance once they clear their two levels, Aurora has many more resistance levels to deal with. _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market and the analysis I do on SPY. The correlation of every individual name and sector to the market is very real and the market has been showing significant weakness over the past four weeks. This correlation affects every stock you own.
TSX:ACB
by McGuireTO