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Potstocks

SHORT CGC RUN!!!Run for your life... JK In all seriousness this stock is and has been overvalued for a very long time. Charts starting to reflect this. With the failure to break ATH weekly close its starting to form a double top formation. Especially with this weeks candle opening below last weeks red candle it is adding to my confidence on the short. Ultimately the target is as highlighted in the chart but it is reasonable to take profits along the way. I will update the chart throughout the weeks.
TSX:WEEDShort
by andzd
CRON: Gap Down Today, Short On Down Open TomorrowI've enjoyed making profits on the new alternative harvest stocks, and I've been watching MJ as my industry benchmark. CRON seems to trade the best for me of all the tickers I've tried, but I took profit a couple of days ago and you might want to consider doing so now if you haven't already. Advanced traders would benefit from a box collar, but I'm not comfortable with options and am not comfortable limiting myself to even lot actions at this time. Short selling opportunities are there, but be careful of the rapidly changing headwinds of this sector and a high level of trader greed keeping the prices artificially high. Fundamentals in this industry have huge revenues that are only beginning to be realized, so a lot of investors are capitalizing on long term growth outlooks with strong cash flow support even with insane cash expenditures in building new logistics operations across highly regulated international boundaries. CRON keeps posting winning gains, but I was watching a falling volume and falling price strength. RSI has ridding almost up to 90, so I've been careful to watch any downward crossings through 60 and that got hit today. The MACD is falling with the histogram increasing with a downward divergence. Directional movement shows a declining upward trend with falling ADX that's still above 40 indicating a stronger long term uptrend, falling +DI indicating the short term uptrend rapidly losing steam, and rising -DI showing that we're beginning to see short term lows. Today's downward gap may take a while to fill back up, and I'm looking at 21.25 and 19.75 as short term resistance and support levels. A downward breakout will further support at 18.50, but it could go back down as far at 16.00 if investors get frightened and retreat back into the sunny S&P500 pastures again. I'm not comfortable shorting this sector due to the over abundance of optimism and high hopes for the pot stocks, but I did exit my long position on Friday at a stop of 22.25 for a tidy end of week profit. If the bulls win out this week and the price closes above 21.25 for atleast two consecutive days, expect the short term to meet additional resistance at 23.25 being the rounded highest end of day price which was only reached at the beginning of this month. Short interest is rising that indicates an increasing pessimism, so treat short term rallies as short squeezes and be ready to exit quickly with your profits if you intend to keep them.
NASDAQ:CRONShort
by chuckination
4
POTN: Bullish price continuation with exit levelsDescription PotNetwork Holdings, Inc, through its subsidiary, First Capital Venture Co., engages in the research, development, and sale of hemp-derived CBD oil products. It also engages in the pre-owned auto dealership business. The company sells its products through distributors and resellers, as well as through its Website. The company was formerly known as SND Auto Group Inc. and changed its name to PotNetwork Holdings, Inc in March 2017. PotNetwork Holdings, Inc is based in Fort Lauderdale, Florida. Website www.potnetworkholding.com Setup Learned this setup from previous prop firm trader Brian Beamish twitter.com www.therationalinvestor.com As always, not advice - just for analysis
PLong
by Charts_and_Such_1
SNN - Breakout Imminent, Bullish Pennant, Tightening Triangle After nearly a month long Consolidation following a +80% move off the bottom set christmas eve @$2.85 we have now settled at a 63% gain off the bottom. holding the 9DMA and 50DMA we could now be set for an advance to the 200DMA up near $6. Key support is 4.40, while we have not closed a trading day above $4.75 since Jan 21 which was rejected. A strong close at high of the day closing over 4.75 could be a strong signal of breakout. watching this week!
SLong
by justin_paul
Canopy (CGC) update: 30-60 days downtrend?Update of previous chart on Canopy. MACD, Parabolic Sar, RSI all looking pretty bearish and reminding me of previous chart action in the aftermath of the late 2018 price run-up. However.. the EMAs (10 and 30) haven't crossed over, and to me that would need to happen to confirm a steep downtrend. For now things are leaning bearish, if we see further confirmation in that direction, I'd be looking at 30 to 60 days of downtrend based on past price action. So targeting a buy in March or April - but where would I place my buys? + Diagonal trendline + Horizontal support Both of these seem like nice areas to put in some bids. Let's come back and see what happens.
CShort
by emotionallydetached
3
Charting #weedstocks - Macro view 7 Feb 2019New to #weedstocks, my experience is in trading crypto for 2 years. I am charting the HMMJ as a macro benchmark of the whole #weedstocks market. Experimented with a few different indicators here, the principle was to find indicators that would have been reliable over the last 18 months. Settled on: MA's (10 and 30), looking for crossovers to signify a change in trend Good old RSI Volume (not currently pictured) Clean charts approach, I want to minimise distractions and focus on the big picture. What I am getting from this: - #weedstocks tend to yo-yo, with short bursts of uptrend followed by prolonged declines. Expect this to continue in 2019 - but the pace might be different this year, it would be a mistake to assume it will trend in the same time intervals - I am looking for MA crossovers over a certain number of periods - RSI was clearly oversold in the last few days, would have provided a great indication of the current correction - As long as price is above the 10 MA, I think we're in bullish territory Will be good to see if this is borne out by the next few weeks. The ideal place to get in would be on support, at the point of a crossover. Yes, there have been fakeouts, this is where I'd look to employ leading indicators and look at their historical performance as a heads-up of the change in trend. My honest hope? We go back to support and I'm able to load up at that level on the big weedstocks like CGC, assuming there's confluence on those individual charts.
TSX:HMMJ
by emotionallydetached
FSD Pharma (HUGE) - accumulation before next move upFSD Pharma looks like it is in accumulation, before a move upwards that could reach as far as the local resistance 'first trouble area' before retracing back down - there would need to be significant upswing in buying volume to go further than that. Indicators - Bollinger Bands looks awfully similar to how they did in July 2018 shortly before accumulation and bull run. RSI shows price currently sitting at support level. 10 Day MA is pretty neutral, no major bullish momentum but not falling under either. This would be a good play if buying in the green box and selling somewhere in the region of the first trouble area.
HLong
by emotionallydetached
Mass Roots: MSRT operates a technology platform for cannabisMass Roots operates a technology platform for the medical cannabis community in the United States. Its platform enables users to share their cannabis content, follow their favorite dispensaries, and stay connected with the legalization movement. The company's MassRoots network is accessible as a free mobile application through the Apple App Store, the Amazon App Store, and the Google Play Marketplace. It also operates massroots.com a business and adverting portal that enable companies can edit their profiles, distribute information to users, and view analytics, such as impressions, views and clicks.
MLong
by Charts_and_Such_1
2