ACB trade ideas
ACB CallGood morning everyone,
Looks like ACB is consolidating hard before it goes up for a price jump. All of the top Canadian top pot stocks have risen past their previous high(heheh see what i did there?) with the exception of APH and ACB.
With regards to ACB, it has already broken through the first downward resistance line. If we close above 10 CAD this week, we would be reaching our previous high or go even higher than that. A stronger indicator would be closing above 11.5CAD. That would be the most secure time to enter the trade. This would be the most conservative approach of entry.
EMAs indicate a bullish momentum.
I stalk these charts day and night. I am Balanar, the night stalker!
ACB Power Play
Similar play here as with Canopy Growth when Constellation Brands bought in on August 15th.
Huge trading volume of 63 million shares yesterday over the news of Coca Cola interest resulted in a trade halt this morning.
As like everything in this sector, rumors cause the share price to go haywire. Will be waiting for a firm confirmation that a deal has been struck before enlarging my position.
26% upside over the next two daysRanges over the next two days vary, depending on Macroeconomics, however, I have formulated a chart to help guide you to better investing. Too date, I have been 100% on directional patterns, similar to the guide outlined on the chart. For simplistic reasons, I've only outlined the basic patterns for my followers. By 2018-09-19(20), We have a bearish lower end range of 9.89 - 10.72, Expected middle range of 10.72 - 11.97; and higher range of 11.97 to 12.54. We expect a bull break on open (volume, rsi, MACD etc., between 10.23 - 10.40 per share. This will continue with bullish consolidation leading into Wednesday afternoon, where we expect the share price to close relative to 11.97 - 12.54$ per share. We do see substantial price spikes in the near future with up to 26% upside over the next two days. As always, enjoy the profits.
Guru.
Could be a good reload traget for aurora FLIPTSX:ACB
If we se some consolidation, this reload target could be a good play with stop around 9.50-9.60
NEW price Target 18$ Per shareSubstantial short term spike will present it self over the next 2 weeks.
Will Coca-Cola be the next big player in the Cannabis Market?Aurora ACB:CN is a Canadian Cannabis stock that is up 15% today on news it’s in talks with Coca-Cola, about starting a partnership in the weed game. Imagine going to the corner store or wherever beer, wine & liquor are sold and seeing Cannabis infused drinks beside your Bud Light or Corona.
I’ve been asked by many of my subscribers to publish my picks, in real time. Unlike most pundits, analysts and personalities, I will be doing so in an open and transparent way, so that I show my process, win or lose.
One thing for sure is that Coca-cola does it BIG, so any deal for Aurora will be huge and have immediate impact on the companies earnings.
MOST CANNABIS STOCKS ARE OVER VALUED AND OVER HYPED. THIS IS A RISKY TRADE. PLEASE CONSIDER RISK OF LOSS BEFORE CONSIDERING TO PURCHASE THIS STOCK WITH ME. PLEASE ALSO RISK ONLY WHAT YOU CAN AFFORD TO LOSE.
At the time of this writing, Aurora is trading at $9.86. I have purchasing 2000 shares on the open market. Here are my trade parameters, for your consideration.
MY BUY PRICE: $9.73
BUY RANGE: $8.00 - $10.50
1ST TARGET: $24.50 - $15.90
2ND TARGET: $28.00 - $32.75 (if a deal actually gets done)
STOP LOSS: $7.20 - $7.60
Notice: Stocks like this can move very quickly, so experienced traders may want to use a mental stop zone, so they are not whip sawed out of a trade. Inexperienced traders may choose to put a simple limit at $7.50 and not re-enter the trade if stopped out. If the rumors fall apart, I will be exiting the trade at those prices.
While Aurora has not gone hyperbolic like other stocks in the sector such as Tilray (TLRY:US) and Canopy (WEED:CN, CGC:US), it is important to note it should not be worth more than $3, even with a generous fundamental valuation. This sector is on fire and completely controlled by momentum traders and speculators.
ACB Uplisting Announcement Muddying Lower High targetACB After retracing almost .5 of the move up from the low of consolidation before the constellation news to our recent high, I was watching for a lower high to be set somewhere between $upper $8 range. Cam Battley confirming in an interview with Midas Letter ACB uplisting to a major US exchange after close on Friday. I'm now looking slightly higher for a profit target, but the lack of a formal press release hasn't given me much to adjust so far. After hours Friday saw ACB trading on PURE exchange for 9.15, which is the .786 retracement of the dump.
Long if we hit targets next weekGoing long IF we see targets next week. Do to the ETF re-balancing
7.10 strong support tested 4 times on Daily chart from 27July-01Aug as Resistance.
And has been acting as support/resistance since December 2017 numerous times.
Hard to say whats going on with ACBWith the all bullish rally's in the sector ACB has been left behind due to almost 1 billion shares. Companies are Cron in my opinion are worthless are making new highs. ACB finding huge selling pressure in the 9's including myself. ACB looked like it was going to break out yesterday we had a bullish flag and the rally to 9.35 followed by huge mark sells pushing acb back to the 200 day moving average. soo what's next? could find support around 8.15 and rally but I don't think so I am thinking one more leg down mid 7's and rally and test 12.5 by December. their are better stocks out there. people are selling acb and buying into aphria and canopy. I wouldn't be buying acb until it hits 9.5 and buying into the momentum. or id be a buyer under 7.15. its a sketchy short due to the momentum of the sector but the momentum of the TSX is saying we should be going lower.
Elliot Wave's on AuroraSince I am fairly new to technical analysis, I like to theory craft using different methods. As I am attempting Elliot waves, this is a projection I have come up with in regards to the price action of Aurora. Projecting the the creation of new highs using psychological levels as support/resistance. Viewing on the daily chart is more accurate to start the wave count. Expecting the formation of a head and shoulders at the top.
TSX:ACB likely to see some more consolidation before surging upUnless some serious news breaks soon, I think the price could fall more before surging up into legalization.
Use your own judgement before investing and always use a stop-loss.
Long update (TSX)looks to be potentially breaking out of a few month downtrend. lagging other cannabis stocks. trigger: 9.39 to add $CGC $CRON $MJ
ACB Bullish Descending Wedge formationACB is forming a descending wedge on the daily & weekly. I prefer the second upper limit because it has more touches, and would consider the breakout a fakeout since the next day closed back within pattern. I'd also consider the lower trendline violation a fakeout as well for the same reason. This pattern should remain valid so long as 5.29 holds IMO
ACB long and bumper road to 10 bucks.No one can predict what the market is going to do.
But for my amusement, assuming the equal measured moves repeat themselves.
We won,t see much over 10 bucks by profit-taking season. (Nov/Dec).
beautiful fib bounceThis additionally proves that 24% fib is a thing as first shown in the hempco graph linked. Also looks to have completed ABC correction which could ultimately be a bullish signal. look for a good buying opportunity around 6.75 (I might enter higher manually) when it tries to fill that gap from 6.50 to 6.88.
ACB, 3Mo chart, Broken the trendACB. has broken the downtrend and is now positioning itself for an uptrend. Based on the Fibonacci retracement, we should be seeing north of $7.00 in the coming days/weeks.
P.S: This is personal opinion, and is for educational purposes
