Barkworth

Barkworth Updated 

Ignoring the recent daily wedge, ACB has been trading between $8.75 and $9.25 for few weeks now. The lowest bounce was at $8.50, and that dip got bought aggressively. Looking at how the recent dips line up, we see an ascending triangle toward $9.25 resistance. This is generally considered a bullish setup. From the looks of it, direction will have to be taken...

Barkworth

Every single dip has been bought to the extend that supports never gave way. There have been many attempts by bears to bring the price down, but while ACB sustained its levels between $8.75 and $9.20, the RSI has cooled, and the MACD is about to cross over. There is enough strength for a decent higher high. I got out, the other day, at $9, but when that dip...

Barkworth Updated 

Confirmed when it bounced today. Every time ALEF has presented the current set up, it was prior to a bull run. The next few days will be crucial. If bulls manage to keep her on top of the 12 EMA, we'll soon have enough volume to turn this ride around. Aleafia uplisted to the TSX, merged with Emblem and is currently waiting for Health Canada to license their...

Barkworth

Back inside that old wedge, bounced hard off of the top. We need to see a higher high, otherwise we'll just continue the down trend. Bottom line disappoints, while market cap is sky high. With 20% share dilution announced, I am not touching this stock until at least below $36. Otherwise, there are many other plays.

Barkworth

Looks like some residual buying pressured forced LABS up to another daily higher high, before triggering expected profit taking. Levels on watch, but I would not want to be holding any position right now. We may see some healthy and reasonably overdue consolidation, perhaps looking for some FIB levels in anticipation of lower lows and lower highs.

Barkworth

Uptrend channel broken with a gap down, on Monday. Yesterday we saw that gap filled, with the bottom of the 3 month old trend line now serving as resistance. We have a bullish engulfing candle on the daily chart. Today we'll need to see confirmation of that, with bulls breaking the $9 price resistance with good volume to look for a daily lower high. If that...

Barkworth

Bulls and bears are fighting hard to gain control. Levels on watch, if the range breaks bearish, we'll see deeper consolidation. Breaking bullish may see us look for a daily lower high.

Barkworth Updated 

Were we looking at residual buying pressure yesterday, or is ZYNE ready for another leg up? Analyst targets are all well above $10, and the projected upside is about 300%, but to assume that it will just skyrocket in that direction seem unreasonable. Bears took control in the second half of yesterday's session. The level to hold is $8.38. the levels to break are...

Barkworth Updated 

A temporary pullback would not break the cup and handle pattern on the weekly. In fact, we don't know how deep the handle will be, and considering the size of the cup and handle (on the weekly), we may see a deeper pull back before gaining new bullish momentum. Thursday and Friday were striking trading sessions for ACB. There were several bearish indicators, all...

Barkworth

We have this double top, and zooming out to the weekly chart, we do see an even bigger cup & handle than last time. Weekly chart also shows enormous bull flag. Combined with clear bulls support at $8.80, I am starting to believe that we are looking at a potential break out, soon! I just bought another batch at $8.80, increasing my position.

Barkworth Updated 

Not sure how long this will continue, and I do suppose it depends a lot on the broader market right now, but while a trend line is hard to draw anymore, one last characteristic of this 3 month old up trend is still in tact. Bouncing on the 26 EMA seems be to be a thing. Meanwhile the RSI has properly cooled . The whole set up looks pretty fragile at the moment, in...

Barkworth Updated 

Just a few pennies now.

Barkworth

Buy on rumour, sell on news. Really great news about licenses in Germany, yesterday, wasn't enough to give ACB an impulse. This is a clear reminder that most investors don't really care about actual news. What we want is promises about pink clouds. We have had 3 of those pink cloud promises since January, inflating the price to a lower high on a period of a...

Barkworth

At $8.17, ZYNE was up 47% this week. Volume saw more than 50% of its share count exchange hands - though we probably saw a few million shares traded several times - and yesterday we saw a healthy bounce. There is still some volume, we could be looking at residue buying power and we need to have the levels on watch to find short term direction. Today we need to...

Barkworth Updated 

As announced today, ACB will further dilute their stock. We'll ignore that management earlier said that they would not further dilute their shares, and what this news could actually mean. Lets just look at the stock alone: $750.000.000 worth of extra shares means the speculative future value just dropped with at least 8%. Investors should act accordingly, and send...

Barkworth Updated 

In my humble opinion, the RSI is the first indicator that the 3 month old up trend has been broken, or is about to break. RSI fell below its trend line, tried to move up, but bounced. 1) ACB is currently in limbo, with no clear direction given. Buying and selling are in perfect equilibrium, but volume is leaving, certain to give bears control at some point. 2)...

Barkworth Updated 

Fibonacci was right last year. Why would he be wrong this year? If you still have a position, use the next jump to look for an exit. Canntrust will be interesting again when it has shown some healthy consolidation, and shown that it can solve the challenges it faces at the moment.

Barkworth Updated 

Of course ACB is our long term winner, but dreaming her to $15 is not going to cut it. Looking at the monthly charts, we're looking at a pretty extended candle for March. Volume is leaving the big names, many of the pot charts look choppy. ACB is in a clear downtrend channel, soon to submerge back into its organic growth channel, leaving the uptrend intact, but...