Get started

Mj

MJ Breakout Mode - Expanding TriangleMJ is the center of a large bull flag trading range and expanding triangle. Last week formed a second entry for a higher low and a potential start of a second leg up. The selling pressure down from the 38 lower high has not been strong, but the directional probability at this location is close to 50/50 with a slight bull advantage. There are still bull gaps open below, but not yet a clear and strong higher low. The bulls will need to keep these gaps open to increase the likelihood of strong bull trend resumption. More likely there will be profit taking at new highs and lows, and failed breakouts, contributing to the large expanding triangle. If you found this helpful please like and share! Feel free to comment or ask questions.
AMEX:MJ
by tradersmentality
NRTH - 48 NORTH gearing up for outdoor productionTSXV:NRTH NRTH - 48 North is a small cap Canadian Cannabis producer, ran by a highly effective management team, they are Co-CEO'd by two sharp business women, who are gearing their branding and company towards marketing to the female cannabis space, with brands like Mother & Clone, Latitude and Avitas. "48North is well capitalized to follow through on our business plan, which is focused on innovative cultivation and manufacturing, while building a portfolio of iconic, engaging, trusted, health and wellness cannabis brands."(from Investor Deck) this company has nearly $50,000,000 in cash with very little debt, Gross Margin from last financials were some of the highest in the industry. With receipt of their outdoor grow license pending Health Canada approval, they will be positioned to produce 45,000,000 grams of low cost organic Cannabis, other companies with comparable production have over $1 billion market caps. with 48 North's low cost outdoor grow and high gross margins, their 208,000,000 diluted share count could net a share price over $4 by end of the year getting them closer to their peer average based on revenues, with high profit margins this could be a unicorn in the profitable MJ companies list. 48nrth.com
NLong
by justin_paul
1
ACB - ShortACB closed below the green trend line on the daily. Target 1 $7.68 Target 2 $7.31 Target 2 $7.20 Target 4 $6.32 Cannabis is an emerging market and while it will be quite big in the future, I wouldn't expect cannabis stocks to necessarily reflect that growth. Case in point. I live in Colorado, which is arguably the Amsterdam of the US, when it comes to weed. Seriously. Weed dispensaries outnumber liquor stores. Probably a good thing but check this out: Many of those dispensaries are just one or two bad months away from bankruptcy and many are attempting to sell their business/licenses. Much like commercial real estate in Denver, after spiking supply to meet demand, an equilibrium has found its place and the value of said real estate is falling. I think Cannabis stocks are over hyped and they are not yet a value buy.
AShort
by jdharward
1