Canopy Growth nears daily oversoldCGC today broke its 4hr equilibrium bearish, and shortly later confirmed the daily bear flag, dumping the rest of the day closing down almost 15% 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 75% of the run up from August 14th to all time high in the past 10 trading days.
Where we stand, Canopy has a lack of support here. We're closing in on the daily MA200 at 31.32, and have price action supports at 30.20 and 29.05. The gap to fill from before the Constellation investment announcement is down at 26.37. Regular readers know we long ago lost the daily and weekly uptrends. I've been watching this descending wedge pattern for the RSI for weeks at this point, and after a false breakout it has now dumped through the bottom of the wedge, backtested former support as resistance, and dropped to lower lows. The daily RSI is approaching oversold, and is the lowest level it's been since June 6th 2017. 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 historical bounce levels:
Daily - 31
4hr - 27
1hr - 22
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 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 Canopy, 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 CGC.
I'm looking at the 4hr chart right now for our levels. We've been in a downtrend for two weeks at this point with lower highs and lower lows
Key levels to watch for trend change/continuation
Support: low of day 32.31, MA200 31.32, 30.20, 29.05
Resistance: 40, 41.06, 42.43
After 42.43 there is a lack of resistance to 48.13
_____
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.
Mjstocks
Y no clear pathBearish everything MJ but tlry no speaky clear path. Patience will be key. Bullish and bearish target represented by black lines.
Bearish Everything MJ!Not a EW expert by any means but pretty clear cut waves even for ew newb. $8 and $4 targets with SL placed somewhere strategically placed about the 382. Bearish MJ everything. Hype bubble imploding
Boom MJ bubble Imploding to Earth's CoreExpecting a retest of the 382 from most previous leg up, eventually bearish pressure will start to show again and this market will begin to panic. Traders will take profit and investors will show their weak hands. Looking for a retrace of around $3. SL above the 382 level.
Boom MJ bubble Imploding to Earth's CoreExpecting a retest of the 382 from most previous leg up, eventually bearish pressure will start to show again and this market will begin to panic. Traders will take profit and investors will show their weak hands. Looking for a retrace of around $3. SL above the 382 level.
Biggest WEED Crash Coming We are currently falling from the top of the biggest MJ bubble in history. Given the recent sell-off, my educated prediction is a possible outcome in the next week or so.
New Rising StarThe Green Organic Dutchman Provides Update on Spin-off Transaction and Announces Intention of TGOD Acquisition to Complete Private Placement Offering of Subscription Receipts. - News of the day.
"I am excited to share our story with CNBC's Jim Cramer this Friday," said Brian Athaide, TGOD's CEO. "With such a vast US shareholder base and our objective to list on the NYSE in the near future, I look forward to the opportunity to showcase our company, methodology, and differentiated approach focused on both organic, beverages, and the international markets to a strong, sophisticated US audience," Continued Athaide.
Pursuant to the Arrangement, TGOD shareholders of record as of the distribution date for the Distribution (the "Distribution Record Date") will receive 0.15 of one SpinCo Unit Warrant for each TGOD share held.
The mj stocks are hot niche, there are a lot of great names like TLRY, CGC, CRON and others, but let's see on TGOF. This company has big plans for cannabis market, just look at their CEO, Former Procter & Gamble Co. executive Brian Athaide, which has the aim to make this company 'Whole Foods of Cannabis' and you will understand why this CO is the new rising star.
TA.
There's definitely something here. I like stocks and cryptocurrencies that have uptrend on the board, TGODF is one of them. And so, the price is trading above the 7EMA and 30EMA lines, the RSI > 50, the MACD indicator isn't readable right now.
ENTER: $6.40-6.60
PT: $16-19
GL Traders.
Canadian MJ VS. Crypto: Is Now The Time To Shift?Hello my dear MJ traders, and everyone else, who is now interested in the MJ sector! ;)
In this video, I show you the huge pump of TLRY from $20 to $300 since they got into an ETF, and we talk about the similiraties of the price action vs. Bitcoin. You will see, that right now, it might not be a good idea to shift from crypto to the MJ sector.
Obviously for the long-term it's very good news, as the legalization of marijuana is coming in the US & Europe. Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up, because the video gets shown to other people then. Make also sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. For short trading: Please be aware, that you can lose all your money on Bitfinex if Tether blows up one day/and or they just close, (respectively on Binance, if you're holding Tether there), as compared to Coinbase, who do not offer short trading, but who have at least an insurance up to 250k. Dollars as they state on their homepage.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
$HIPH Accelerates Push North On Company CBD Updates N Farm Bill$HIPH Confirmation of deliveries of its CBD Water Beverage, upcoming financials and Pink Current Status has pushed the stock to higher highs. The stock broke out above major resistance points and has formed a comfortable major base above .035
The CEO also confirmed that he is looking into potential partnerships and acquisitions of other MJ brands for this fall. Numerous updates are anticipated along with the following Overall MJ/CBD Market Catalysts:
Pending US Federal Hemp/CBD legalization DD/research links:
(1.)
The current Farm Act expires Sept 30th, 2018, legislators will attempt to pass a new Farm Act before the current Act expires, meaning; there's aprox. 99%+ certainty that the proposed US Federal Hemp/CBD legislation will be dealt with by congress in one way or the other on or before Sept 30th, 2018.
www.washingtonpost.com
The Hemp Farming Act of 2018 contains full spectrum legalization of Hemp & CBD on a US Federal level
en.wikipedia.org
It is easy to under-estimate the potential economic impact of US Federal Hemp/CBD legalization, but consider;
Hemp/CBD has been federally restricted for over 80 years.
en.wikipedia.org
Not only does CBD derived from Hemp have potential mass use on a national/federal level, but the Hemp by-products of CBD production have approximately 10,000 different additional uses:
www.bulkhempwarehouse.com
The US Federal legalization of Hemp/CBD is essentially a once-in-a-century event.
(2.)
On Oct. 17th Canada will experience full Marijuana legalization. This will also be another catalysts and full spectrum legalization of MJ in Canada puts pressure on the US to pass full spectrum legalization of Hemp/CBD for US Farmers to stand a chance of being able to compete with the Canadians in the massive international Hemp/CBD space.
(3.)
With 2018 being a mid-term election year; Cannabis stocks tend to out-perform when legalization is on the ballot, see the following 2 videos for further explanation:
pro.moneymappress.com
secure.caseyresearch.com
This November 6th these 4 states will vote to legalize Marijuana in different forms:
North Dakota: Recreational Marijuana.
Michigan: Recreational Marijuana.
Utah: Medical Marijuana.
Missouri: Medical Marijuana.
CANB falling wedgeI've warned in multiple venues (here, on Twitter, on iHub, and in private groups) to not chase MJ movements at this extremely early stage of the season. (This is true even during peak mania; the only difference is in peak mania you may be rewarded for making a stupid move rather than being punished, which makes for bad and dangerous habits.) These pops in OTC* are premature, a result of accumulation gone wild or overeager noobs chasing. There are not enough eyeballs and $s to sustain a true MJ season run. Yes, headlines are starting to pop up, but it's not really gotten to the level needed yet. This is the pre-party. I am taking some profits on big spikes and I expect them to retrace and buy back lower. If they don't, I am moving that money into stuff that's still not run.
CANB is a classic example of this. I am very glad I took a big chunk of profits at 10 cents. I've been buying back more and more the lower it gets. Right now the tape is painting a beautiful falling wedge, a generally very bullish pattern that likes to break upward. I have bids sprinkled between $0.041 and $0.046. There's pretty strong horizontal support around the 4 cent mark and I expect that to be a decision point whether it's going to break up out of the falling wedge or whether it needs to retrace further to 3 cent support.
Thanks to @Chuck_Buffet for noticing this falling wedge pattern.
* This is true of OTC. However, because NASDAQ, TSX, et. al. are both more mainstream and have fewer MJ options, this may not be true of MJ tickers on those exchanges. This is basically a first for those larger exchanges having MJ, so no known history to go on. So stuff like TLRY and CRON may be in their real run.
$HIPH Turns Both Daily and Weekly Techs Bullish On MJ News$HIPH So Far DD just this Year Alone:
A. LALPINA HYDRO CBD full launch announced for 8/27/18 and also announced David Schechtmann as President.
David Schechtmann received his Doctorate in Law from Loyola Law School in LA and his Bachelor of Science in Finance from the NYU Stern School of Business.
www.linkedin.com
www.otcmarkets.com
B. Several hundred thousand in Pre-Orders already geared up for the launch.
www.otcmarkets.com
C. $HIPH's wholly owned subsidiary GENTS, www.gentsco.com (Sold in Bloomingdale's, Nordstrom, Saks & 200 other retail locations.)
Gents announced a collaboration with the boutique fitness chain SoulCycle across all of its 83 studios. SoulCycle's parent company Equinox Holdings Inc. also owns Blink Fitness and the Pure Yoga fitness studios all of which $HIPH plans to integrate its Lalpina Hydro CBD once its launched.
D. Acquisition of Worthy www.worthylux.com is a New York based streetwear brand and sneaker store which has become a go to destination for musician Cardi B. The terms of the deal allow the Company the worldwide exclusive distribution of apparel and accessories outside of Worthy’s existing stores.
www.otcmarkets.com
E. Revenue for Q4 of 2017 $169,313 & Q1 2018 sales up 7401% year over year.
www.otcmarkets.com
F. Since becoming CEO late last year, Fishoff has reduced debt by 80% (Per fillings & Past Press Release). In 2018 no new debt has been issued. As $HIPH is non fully reporting to the SEC. Per SEC & FINRA rules debt must be held for 12 months. Debt can only be sold and converted to shares if met the 1 yr holding rules. Or 6 months if a company is SEC reporting.
www.otcmarkets.com
www.otcmarkets.com
G. In Jan 2018 $HIPH debuted its LALPINA HYDRO CBD prototype. And announced the full launch will take place Aug 27, 2018. $HIPH has the only hydrogen infused CBD beverage on the market, which gives it an exclusive first mover advantage in a niche market. Hydrogen infusion allows for greater & quicker absorption of CBD into the body (See past press releases).
H. Authorized shares currently at 300,000,000 and Outstanding shares at 93,818,118, based on past press releases it was advised that 25,000,000 would be restricted and held in escrow for pending M&A deals.
I. FashionCoinExchange launched and went live on social media July 11th with the launch of its first coin THRDCoin.
www.fashioncoinx.com
J. The Brewer Group (www.thebrewergroup.com) and CEO Jack Brewer is helping to recruit current and retired professional athletes to promote the LALPINA Hydrogen and LALPINA Hydrogen CBD beverages. Mr. Brewer is a 6-year National Football League veteran and CBD proponent.
K. The Company announced in March that it had entered into a joint venture with Zhangjiagang Advanced Company (ZAC) which will support the Gents brand distribution into mainland China and potential base for Asian expansion for the LALPINA brand.
www.otcmarkets.com
L. See Thru Equity www.seethruequity.com initiated coverage on $HIPH and gave a $0.15 price per share target. See ThruEquity is a respected NY based research firm that covers mostly NASDAQ companies.
www.accesswire.com
M. American Premium Water Corporation (OTC:HIPH) announces that it has acquired the license to operate FashionCoinX (www.fashioncoinx.com), an exchange utilizing blockchain technology that will provide fashion brands the ability to create their own security backed tokens which will provide special discounts, access to exclusive products, and other loyalty rewards to consumers. These tokens can be traded on the exchange, allowing for a real-time indication of a brand’s power.
www.otcmarkets.com
N. $HIPH CEO Ryan Fishoff Interview on the Floor of the NASDAQ discussing Crypto, CBD Beverage, GENTS www.gentsco.com, Fashion CoinX, & Worthy subsidiaries:
www.youtube.com
O. $HIPH had successful exposure during the Superbowl weekend in Minnesota. Two of the flagship brands had a visible presence on the ground, engaging in activation with A-list celebrities and entertainers, including Flo-Rida, LALPINA's brand ambassador who performed at the Leather & Laces party hosted by Donnie Wahlberg and Jenny McCarthy. NFL legend Clinton Portis, WWE (WWE) Superstar Mojo Rawley, and others also joined with $HIPH in celebration of the brands and newly released products.
www.otcmarkets.com
CEO Ryan Fishoff began his career on Wall St doing M&A deals at COBE Capital www.cobecapital.com where he participated in over $500 million worth of M&A transactions.
The last move in January from .015 - .10 was purely hype. This next move and every other move from here going forward won’t be hype at all. The coming moves will be the result of a beautifully designed and implemented business plan with flawless execution by a CEO that’s truly going to make a name for himself, Ryan Fishoff, and build himself a legacy.
Social Media for the subsidiaries are also impressive:
LALPINAbrands:
1,000,000+ Followers on Instagram
Lalpina Water:
21,000+ followers on Twitter
GentsCO:
3,884 followers on Twitter
22,425 followers on FB
The last move in January was the result of the prototype of LALPINA CBD being released and showcased at a Super Bowl party.
The next leg up the stock sees will be attributable to a number of factors. Of utmost importance is the fact that a viable and sustainable business is in the process of being built that’s in all essence a conglomerate engaged in the beverage, cannabis, cryptocurrency/blockchain and luxury retail industries.
The growth that $HIPH will experience from this ground-floor level going forward is an opportunity that most investors will never experience at any point in their lives. Let’s face it, 1,000-50,000% gains are very rare. While I’m not stating that $HIPH will get to $5, it certainly has that type of potential over the next 5 years or so. I look at a company like $KSHB in the cannabis business with a market cap of 329M currently with 2017 revenues of just under $19M and I think to myself, is Ryan Fishoff capable of leading $HIPH to those kind of numbers given some time to execute his business plan? The answer is an emphatic YES!
$HIPH only had $423k of revenue TOTAL over the past 4 years. They’ll sell about that much in Q3 of 2018 ALONE! $HIPH is in the process of building one impressive business now and the company will experience incredible growth for many years to come!!!
126 mil OS, 25 million of which in restricted (SEC rule 144 must be held 1 year) shares!! Held in escrow for M&A deals per May 2, 2018 news! Fishoff again asserts his focus on reducing debt not adding to it. As of June 2 acquisitions were completed Worthy, www.worthylux.com license & Fashion CoinX www.fashioncoinx.com . Fishoff started career on Wall St doing M&A at COBE CAPITAL www.cobecapital.com we he participated in over $500 million worth of M&A deals.
Some other things that deserve some mention:
1. General Nutrition Center distribution currently with LALPINA water in 2 L.A. stores as test stores with the anticipation that this will ultimately go worldwide once the CBD water is released
2. Joint venture in discussions to develop a hydrogen infused THC drink in addition to the CBD drink
$HIPH company twitter links to share retirement tweet from Fishoff!! Dont cut bait on the Fishoff! He said he would could debt and did, said would deliver LALPINA HYDRO CBD prototype in Q1 2018 and did (Jan 2018). Said in pr's in M&A negotiations and in June closed Worthy www.worthylux.com and FashionCoinX www.fashioncoinx.com. Said on July 26 upticknewswire interview that company would be applying for IP protection (trademark patent) for LALPINA HYDRO CBD. Aug 8 company announced it filled IP protection on Aug 7 in advance of LALPINA HYDRO CBD going on sale Aug 27. Fishoff stated in JV talks to produce a THC/cannabis version of CBD beverage. Also looking for more acquisitions possibly in CBD space.
$HIPH has the only hydrogen infused CBD beverage on the market. Hydrogen infusion allows for greater &quicker absorption of CBD into the body.
After its CBD Pre-Rollout Launch on the 27th of this month they had up to 41 Orders processed within 2 days which equated to about $2,870 in sales in two days. By these estimates you can see the revenue potential the company has coming in this year on a full-rollout launch. Many MJ Enthusiasts will be keeping a stack of this company in their portfolio.
Bearish Divergence on 1H CVSIOkay Q2 earnings but way overbought. Bearish Divergence showing on the 1 hour both short and long term. I think we get a pullback to long-term resistance around 2.10-2.20.
$DPWW - speculative MJ play with huge potentialChart will tell you the story on the price standpoint. Right now, to me at least, the stock is down big due to low trading action during summer months but a lot of this will reverse with upcoming Fall trading as well as MJ catalyst of Canada set to go legal on Oct 17 2018.
DPWW currently operates two premium MJ stores - one in Colorado and another in Seattle. Co just released news last week about plans to expand in Colorado and Cali. There was a $700K capital infusion in the co from previous investors. The very next day, company PRed that they have secured their second store in Colorado. So next PR will be for store in Cali. Lots of good info out there on the co and the investor out of SFO they are using to fund their store expansion. Chart looks very interesting to me at this bottom range with upcoming sector-wide catalyst. SS is very attractive here and currently the mkt cap is less than $2M.
CBWTF Long ideaThese long consolidation patterns (seen in the box) tend to break out to the opposite side that the trend entered the box. So I expect this stock to move higher once it breaks out of the consolidation. When that happens may require patience.
VFF Healthy consolidation. No matter how fundamentally strong VFF Is and how solid their execution is , the overall volatility and psychology of the cannabis markets will effect share price.
Personally I believe VFF to be very well positioned, in a strong position financially and their operational plans are on track for 2018 and 2019.
Short term VFF is in for a tough battle up, overall bulls seem to be exhausted and the bears have been exerting some serious selling pressure both on VFF as an individual stock and the Canadian cannabis market as a whole.
From a technical analysis standpoint VFF has immense potential to retrace back to previous highs and maintain them, this would require the bulls to pick up steam.
I'm looking for industry wide catalysts and also VFF specific catalysts to move this stock. My time frame for the retracement back to $8.50+ is 2 months
Prime Loading Zone for SGDH One look at the chart and you can see the prime loading zone we are currently in. With News around the corner, accumulation remaining steady, I think these cheaper shares will be taken advantage of very quickly.
HMMJ: Extended CorrectionObservations
Extended correction through an ABCDE wave pattern.
Charts still bearish as 55 EMA is above the other EMAs on 3h timeframe. Price trend also well below 55 EMA.
RSI is also downtrending making lower highs.
Continued pressure across the stock market (i.e. Dow Jones Index is still looking to correct further)
Keep a close eye if it breaks down further. Possible buy zone at the previous low of $16.53 and 0.618 fib level (i.e. $14.86)
A significant break above $20.28 and 55 EMA support would be good indication of an uptrend to a possible impulse wave.
Disclaimer
For informational purposes only and not deemed as financial advice.
MJX; 2018 the year of legal weed!Im biased, I smoke the good kush every day, so it is only logical for me to be long good kush and those who can provide it.
a new etf was converted from latin american RE to 'alternative agroscience' (LARE became MJX) and it is already looking like it could be going parabolic to me.
Most of their holdings ( portfolios.morningstar.com ) are in canada so it isnt like AG Sessions can do much about the weed boom across the border.
gl hf and if u make a bag be sure to buy an oz of OG kush on me :)
manage your risk
much love
xoxo
sn00p
HVT: Extended CorrectionObservations
Lots of MJ stocks following the same correction path. Extended correction through an ABCDE wave pattern.
Charts still bearish as 55 EMA is above the other EMAs on 3h timeframe. Price trend also well below 55 EMA.
RSI is also downtrending making lower highs.
Continued pressure across the stock market (i.e. Dow Jones Index is still looking to correct further)
Keep a close eye if it breaks down further. Possible buy zone at the previous low of $0.99 and 0.786 fib level (i.e. $0.86)
A significant break above $1.35 and 55 EMA support would be good indication of an uptrend to a possible impulse wave.
Disclaimer
For informational purposes only and not deemed as financial advice.
EAT/SPLIF: Extended Correction Observations
After a super extended wave 5 move at an alarming pace, we have been going through a fairly long correction phase.
We may have entered into what is commonly known as the "hurry up and wait" syndrome, where we rushed through the impulse wave and then carry out long correction from the previous high.
Charts still bearish as 55 EMA is above the other EMAs on 3h timeframe.
RSI is also downtrending making lower highs.
I believe in this company fundamentally long term but one must be patient with this correction if you are looking to enter or currently holding long term.
Disclaimer
For informational purposes only and not deemed as financial advice.
