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Potstocks

CGC going into it's capitulation phaseI'm sorry, but it's starting to look that way. We'll probably bounce when we get under the recent lows, but I wouldn't stay long in this. Target could be 5 dollars (or lower!) - backtest of trendline is the target (for me). Remember, Amazon lost 90 percent of it's value ($110 to $5.50) when the market popped in 1999. This is all too common in stock bubbles. Once it stabilizes,bottoms, and everyone hates CGC - it's time to accumulate and hold for a LONG time :) Good Luck!
C
by the_sunship
Dixie Brands Descending Triangle Pattern#DIXI.U - Dixie Brands closed Friday below a descending triangle support line(lower orange line), which up until Friday had been propping price up as traders had previously been holding above $0.135 which is where the lower triangle line is drawn. A descending triangle is a bearish chart pattern that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. Oftentimes, traders watch for a move below the lower support trend line because it suggests that downward momentum is building and a breakdown in price is possible. Descending triangles are a popular chart pattern among traders because they show that the demand for a stock is weakening. When price breaks below lower support, it is an indication that downside momentum is likely to continue. Dixie price is now below the lower triangle line which is a bearish indication, but when trend-trading 2-3 days below a support line is needed before it can be considered confirmation of loss of price support and continuation of the downtrend. While price closed below the lower triangle line on Friday, traders also created a long, lower price candle wick which indicates that as bearish traders attempted to push price lower, bulls stepped in and kept price near the upper end of the daily trading range. Usually when you see long wicks near the top of an uptrend or bottom of a downtrend, it indicates that a top or bottom in price is attempting to be made, respectively. The decline in Dixie price over the past few months can mainly be attributed to overall sector weakness as the entire cannabis sector has been on a decline since mid-2019, and this is a sector that mostly follows the top market cap cannabis stocks, namely Canopy Growth Corp. The recent stock market sell-off hasn't helped the sector either as traders have been reluctant to buy much of anything over Covid19 fears and its affect on global supply chains. If you're a long-term holder of Dixie, the name of the game is to add at these low levels and lower your cost average. If you're a trader, a long entry can be made here in anticipation of a global market reversal early this week due to the oversold nature of most markets right now. Short-term trader stop-losses should be placed just below Fridays wick, or just under the $0.10c level. A breach of that level would likely indicate further downside in price.
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by PrepForProfit
CGC Monthly Reversal Candle Setup#CGC -#CGC Canopy Growth Corp has created a bearish reversal pattern on the monthly chart that is similar to an Evening Star Reversal pattern. The current reversal pattern doesn’t fulfill the requirements to be a true Evening Star Reversal due to it not occurring at the top of an uptrend in price, but it could be a signal of downtrend continuation, especially when taking in to account the recent bearishness across all markets over Covid19 fear and the impacts that the virus is having on local economies and the global supply chain. Evening Star Reversals are when a move up in price(candle 1), is followed by a doji/spinning top candle(2) followed by a move down on candle 3 that retraces at least 50% of the first candle in the three candle pattern. This pattern shows traders initially are bullish on candle 1 by pushing price higher, then become indecisive on candle 2 which creates upper and lower wicks of equal length with a monthly close near the monthly open which creates a small candle body. On candle 3 they take price decisively lower and retrace half of the pattern move. While this candle pattern setup is bearish, in needs confirmation on the next candle via a price move below the low made on candle 3. In CGC’s case, a monthly close in March below $18.78 would be pattern confirmation and likely mean more downside for price going forward. The PPO and RSI indicators below the chart are also showing negative price trend and momentum. The PPO is in a negative cross and declining with a fresh PPO line(green) move below the 0 level which indicates a negative trend for price. The RSI is also in a negative cross and declining with the RSI line colored purple and declining below its signal line(white). The RSI is also below the 50 level with a purple shaded background which indicate a negative momentum trend behind price.
CShort
by PrepForProfit
CGC Loses UptrendCGC has fallen out of its uptrend channel(orange lines) and has returned to a previous consolidation range(blue lines). The trend for now has shifted back to neutral as long as price is within the blue lines; a break back above the blue channel would be bullish, a break below bearish. The PPO is indicating a negative short-term trend with the green PPO line declining below its purple signal line. Worth noting is that the green PPO line is close to crossing below the centerline which would indicate a more substantial downtrend should the PPO continue to fall below the centerline. For now, the lower blue line near $17.50 is the level to watch for support, a move below that line would shift the trend to bearish.
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by PrepForProfit
2
CRON Make or Break! Crypto Crusader here with an extremely speculative pick, a weed stock, to be exact Cronos Group. I don't have the time to discuss a more detailed analysis, but I'll post this chart to explain my thinking regarding technicals. In regards to fundamentals, Altria (the maker of Marlboro) owns just under 50% of Cronos Group. You have to wonder, the maker of the worlds most popular cigarettes (regardless of tobacco being an addictive substance) must have a top notch marketing team behind them. They have billions of dollars, and it's in their best interest to see their investments profit. I'm sure they have a plan for Cronos. This is going to be almost purely speculative as a short / medium term investment, I would expect 50%+- swings in either direction. My entry was around $7.5, lets see how high this stonnkk can go! May the trading God's be in your favor! Crypto Crusader
NASDAQ:CRONLong
by CryptoCrusader
3
Is Phivida Bullish Yet? Has it bottomed? US Ticker VS CanPhivida is a major CBD Canadian energy drink manufacture, who is clearly high in debt but has a great product, sales and decent market share. Fundamentally I have no idea if they can survive long term, but it does seem that they have come off all time lows and are now rising. Interesting, is the fact that the US ticker PHVAF does tend to be more volatile than VIDA , its Canadian ticker, however its almost like you can watch VIDA to predict PHVAF. Also, there is a GAP on PHVAF on the Daily! So can we see 8.8 cents again before lift off. This could be a complicated setup but if you watch VIDA and try to trade PHVAF perhaps this could be a good setup. I wouldn't expect the same pullback on VIDA as it doesn't show a daily gap. Please remember that this is not trading advice!
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by ChartProphet
Aphria - Inverse Head & Shoulders to Watch on WeeklyI'm a big fan of weekly time frame analysis, the larger time frame offers in my opinion greater strength behind any pattern- bearish or bull. I'm watching for an inverse head and shoulders to form, with the near term 7.35 resistance converting into support and offering a leg up into 9.10 A break of the 9.10 neckline will offer further upside, however I do not anticipate this will break on the first attempt rather pullback into 7.35 area confirming it as support and finally painting the inverse head & shoulders pattern everyone will be watching. I'm just watching for the potential formation a few weeks in advance. Disclosure, I do hold an existing long position in Aphria (APHA)
ALong
by tomthetrader1
CGC: Pot stocks likely bottomed, the last of the sellers soldI think #CGC is being accumulated as it bases sideways here, since most people probably sold after it bottomed recently. As pointed out by @timwest, tax loss harvesting might have played a part in the supply that came to the market recently, which should be over by today. I'll be accumulating shares gradually here, currently bought a half position before the close today. A fun fact, I calculated to risk 0.5% of the capital based on 3 times the value of the ATR indicator, which gave me a total of 420 shares per 100k in the account. :p The long term trend has a failed uptrend that needs to be invalidated here, if it holds up and moves over $25-26 it will be a very interesting play during 2020. Happy new year everyone!
CLong
by IvanLabrie
4
Aurora Cannabis (NYSE: ACB) The Mother of all contrarian tradesAurora Cannabis has been on a downward spiral driven by a combination of multiple factors including Cannabis 2.0 slow roll out in Canadian provinces, amounting debt, recent Bond conversion and further dilution of existing shareholders, departing executives and a market glut of oversupply. Well, basically all things that could go wrong have gone wrong for Aurora, making it a clear "Sell" case; that is if you own the stock, ha!!... For those investors waiting on the sidelines, this could be a great entry point for the stock. Aurora just relesaed today a corporate update outlining long term strategy growth plans. The report can be accessed here: www.prnewswire.com Whats next? Aurora is the only major cannabis player that has not inked a deal with a major player in the CPG space, others like Canopy Growth and Tilray have inked deals that are already priced into the stock, raising additional capital and giving investors relief. Nonetheless, Aurora has not only sufficient assets (excluding goodwill) to weather the coming months and gain strength as global sales resumes, the Canadian market opens up and further developments in the US unfold in 2020. In addition, ACB just bought a Hemp company that will allow them to enter the CBD US market. In summary, this could be an interesting time to take a position in ACB and increase gradually as events unfold with significant upside as the stock bottoms. One analyst is giving it a price target of $0, but in my own view, when I hear such unrealistic opinions like this, most often coincides with bear markets coming to a bottom and about to turn making this a High Risk, High Reward trade and could be, the mother of all contrarian trades as we close 2019 and enter into the new year. Do not take this as an investment advice and always do your own research before investing... always remember to place tight stops and risk manage every step of the way!!
ALong
by DNI_VENTURES
10