Double Bottom!12-13-18 and 12-24-18 each formed a low @ 2.35, with increasing RSI on the 24th.
Mr. Trump just signed the hemp bill into law.
This is a buy!
Potstocks
GAP-FILL opportunity on CRON - Short term profit CRON shows a nice gap-fill pattern as I highlighted.
If the stock trades lower on the pre-market, it'll be much riskier, so be careful.
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NBEV - Short-term LONGI am bullish on NBEV, price is in a parallel channel going up. The lower end of the channel corresponds to the 61.8% Fibonnaci level on a longer time-frame. If price also breaks out of the big triangle pattern, it'll be a very good opportunity for a longer long!
Trade safe!
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APHA looking for a daily higher low above 4.76Aphria is likely to form a tightening equilibrium, the break of which will likely be determined by how SPY breaks
ACB watching for potential of daily lower high being setACB enjoyed a nice oversold bounce the past two days, now we're watching the high and low of Friday to break to signal consolidation or continuation.
CGC potential daily lower high on watchWatching CGC first thing Monday to see if the high of Friday or the low of Friday breaks to signal sort term direction
APHA dumps more while investors wait for company responseIt's now been three full trading day and Aphria still has yet to challenge head-on the allegations of a short seller who put together a compelling storyline. The only response so far has been to dismiss the claims, and this lack of response has seen the stock lose half its price in three days.
In this video I discuss where I see the short term action heading, some comments on my last video, and why I would not recommend friends or family investing in Aphria
ACB loses key weekly levelACB had a clear bear break today, and there is a lot of space before next supports are encountered. Bears are in full control
Canopy Growth breaks key daily and weekly supportsClear bear breaks today keep the bulls in full control of CGC and WEED in every timeframe. Currently in an area with a lack of support. A weak afternoon bounce leaves us in an hourly bear flag setup heading into tomorrow morning, bulls must hold the low of today tomorrow as a first step in negating that flag.
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.
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ACB testing key support first thing; lack of support if breaksACB has a key test of support first thing tomorrow, and there's a lack of support near by should the chart see a bear break
Canopy Growth testing key daily support; bear breaks on watchHere's what I'm watching for CGC and WEED. Bears are in control as key support is likely to be tested first thing. There's a lack of support for 25% in the event of a bear break.
Pot Stocks are Grossly OvervaluedPrices are going to continue to degrade to the mid 20's on the MJ ETF.
**TOO HIGH** -- TLRY Bearish - Descending Triangle (4H)In mind of its speculative valuation, the technical pattern appearing on $TLRY (4H) indicates turbulence ahead.
Watching TGOD, OGI, HEXO, and CRON into next weekNice setups on a few names heading into next week
TGOD
S: 3.16
R: 3.41
OGI
S: 5.23
R: 5.65
HEXO:
S: 5.65
R: 6.19
CRON:
S: 7.70
R: 9.08
APHA remains weakAPHA remains the weakest long term chart in the sector but some weird price actin Friday caught my attention
CGC tightening patternWatching CGC tightening pattern break for a solid dump or bounce.
R: 34.85
S: 33.08
$APHA Call order Placed. #cannabistocks #ichimokuPossible long here for $APHA Small call order placed. See chart for further details.
APHA remains the weakest name in the sectorAPHA confirmed the daily bear flag, while the rest of the sector is still holding key support - but the bulls don't have my confidence it will hold.
APHA key levels first thing tomorrow is the low of today, and the high of the recent daily bounce.
S: 11.86
R: 13.75
ACB searching for support above the low of OctoberACB is positioned weak with a potential daily bear flag.
Key short term levels:
S: 7.92
R: 8.93
CGC up against key daily support zoneCGC is up against a significant area of support including three price levels and the 200 day MA. Watching tomorrow for how this plays out.
Key resistance for bounce continuation & bear flag negation is 32.99
Key support is 31.85
