ACB Strong Buy Signal w/ High Upside Potential next 6 monthsAurora Cannabis (ACB) closed at $6.98 on Sept 11, meeting 2 previous support Lows.
Fibonacci ratios and Elliot Waves on this chart fit quite nicely.
Key points for a BULLish trend over the next 6 months:
Key Support met again. History tells us a breakout may be on the horizon.
Declining volume on the downward trade indicates a possibility for a breakout with high volume.
RSI provides a strong oversold indicator.
Consider the larger Elliot Wave Trend and see that we may be at the low of a Wave 2 on the larger cycle, indicating the best buying opportunity of all time, with low downside risk.
Key Points for Risk-Reward Trades over the shorter-term:
Note the MACD cross-over, but also the unreliable nature of this indicator, especially considering prior history of "flip-flopping".
Lots of opportunity to trade the up and down moves to $150 over the short term if there is a bull breakout.
First target of $33.50 is based on the .786 retracement, and coincides with the impulse peak of wave 3. This will require a strong breakout with volume and likely be accompanied by high volatility.
Disclaimer: I am not a professional and I chart for my own education and learning. Please feel free to share your ideas and any resources you might recommend! Thank you! :)
Mj
$TLRY Weekly- Earnings tomorrow
- Rising RSI
- SItting on volume shelf
- Break of $8.35 has a lot of room to the upside
$ACB weekly- Weekly falling wedge
- Price held relatively well after CRON report
- Printed a doji candle at the bottom of weekly falling wedge
- Still sitting on massive volume shelf
Cronos: some gaps to fillStill looking constructive here. looking for a bounce here and a move back over 6. would give a nice discount opportunity on Jan 2021 9C's $MJ $CRON.CA $HMMJ $HMMJ.CA
$acb daily- $CRON report could affect this pending breakout
- Levels above based on auto fibs
- Looking for a breakout above $10.90ish for confirmation
- Pattern negated with break below 9.75ish
- MACD looking for a potential bullish cross
Marijuana ETF MANAGERS TRUST - $MJ Daily SQUEEZEDaily Squeeze on MJ is setting up very nicely! Looking forward to burnin more of those green candles!
$MJ Daily Chart is about to get LITBeen a while since I've done an update on MJ so here it is & man does this look ready to rip! 200SMA X 50SMA Squeeze watching for the golden cross-up! Accumulation is the name of the game, I cant see this heading anywhere but up from this point! This chart is TIGHT, imho we should see some decent moves in the mj industry in the near future.
Price alerts above $15 for breakout confirmation
Turning bullish on CGC, but still might get lower buying oppCanopy had a massive 40x run from 2015 to 2018, and has since been in a prolonged correction. Starting to look like a bottom is forming around the $10-15 range. I began averaging in and plan on building a core position over the next 6-12 month. Looking for a 10x move to $150 area on this upcoming cycle.
$HEXO is losing its spot on the S&P/TSX Index....Help or Hurt??HEXO road the 50MA all day today
Just crossed the 9MA and about to
cross the 20MA...does this mean
we are about to see a breakout??
What we can say is that the rest of the
MJ Stock Index is also in the same START
position!
Is this a "CALL" to action??
$HEXO Earnings are very POSITIVE!Do you see what we see?
Trends are trends...
But Flags are Golden....
Now which way??
Revenues up 30%
Gross margins at 40% (which is excellent)
Operating Expenses DOWN
Expanded Partnership with Molson Coors to
explore US CBD in CO.....
All we can say is that when Revenues go up 30%
from Quarter to Quarter...
ya that is a positive for this stock!
Are Pot Stocks Back? Potential Breakout OpportunityCRON has broken out of the descending triangle pattern (reversal) with a strong bullish candle (+21%) on 6/8/20. This is an interesting setup since the descending triangle chart pattern seemed to form at the end of the downtrend. Over the last several months pot stocks have gotten hammered. Some stocks even falling +90% during the bear market. The fundamentals are beginning to align, and general market sentiment has greatly improved. If sentiment remains positive, there is a possibility that CRON will continue to rally into election season. If there is a strong push for more states to legalize marijuana, then except additional momentum.
$HEXO BULLISH ON ALL FRONTS!From Light of the 5th Moon.....
Earnings around the corner from that!
A license to SELL RETAIL from HEALTH CAN!
Many many things are coming together
4HEXO it has been a long road, some of the greatest challenges
are about to be overcome....
$ACB What is with the 13th of May and MJ Stocks??It seems a little strange that all of the mainstream MJ stocks have all started back up the ladder
as of 13 May 2020....not sure why these are all lined up but I am liking the CALL action!!
$WEED Canopy Growth earnings call expectations...Canopy Growth will announce earnings on Friday this week. The market has priced in a good earnings call....but has it priced in a GREAT one......?
We shall see..........
$HEXO Could be ready to move up!We have been watching and trading MJ for a while and HEXO could be setup for a little CALL action.....
Is it Up in Smoke for Pot Stocks? | ALTERNATIVE HARVEST ($MJ)🌿 Alternative Harvest is on its way up after an extremely bearish last half of 2019 for pot stocks, but is it up in smoke or down in ashes for MJ? Right now we have MJ rallying off the bottom as darlings of cannabis like Aurora and Tilray push higher. This move in some pot stocks has pushed others up. Some of this is fundamental, with some better than expected earnings and one study that shows that maybe smoking pot helps ward off COVID, while some of this seems to be FOMO. Although pot stocks can really run when they run, the overall bearishness of the trend has us looking to short exhaustion from this rally... even if it is just as a hedge (although we will likely wait until Tuesday's open to execute this since we have a three day weekend).
Resource: www.thestreet.com
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1. Fractal Trend is showing a downtrend (Maroon bar color) on the 4-hour timeframe. Despite the recent strength in MJ, the trend has been bearish for a while.
2. With this strategy, we are looking for short setups in a downtrend and as such want to enter short on retests of bearish order blocks plotted by Orderblock Mapping (Maroon line color) and/or bearish S/R levels plotted by Directional Bias (Maroon line color).
3. We are looking for a short entry off of the range formed by the R1 bearish order block with a stop placed at the gap and a target of the S1 order block + S/R flip cluster.
4. If that entry doesn't work, we are looking for a short entry off of the major S/R flip at R2 with a stop placed above the R3 order block cluster and a target of S1.
5. Additional notable levels include S2 and S3. Notable here is that a bounce off S1 would create a potential series of higher lows lending to the bull case for MJ, while a break to S2 or S3 would break the short term bullish structure and lend itself to the overall bearish bias the chart already has.
This short setup makes a lot of sense to us given how bearish MJ has been over the past year and are not trying to catch any knives calling a bottom too early. That said, due to recent strength and a three day weekend for the retail markets it makes sense to hold off on opening a short until Tuesday.
Good luck MJ traders!
MJ - you knowThis sector has to do well from here. More states and federal are going to need more tax revenues..
CURA Structural Support| Resistance Confluence| Declining VolumeEvening Traders,
Today’s Technical Analysis – CURA – holding a key support with the current volume clearly declining, a move will be imminent with a subsequent influx.
Points to consider,
- Macro trend bearish
- Resistance confluence
- Structural support being tested
- RSI above 50
- Stochastics projected down
- Declining volume
CURA’s overall trend is bearish with consecutive lower highs, currently recovering from oversold conditions that needs momentum follow through.
There is resistance confluence with the .50 Fibonacci and the 100 EMA; price needs to trade above it to establish a higher high for the local trend to remain true.
Structural support is being tested; current candle closes have been bearish, indicating weakness in the bulls.
The RSI is trading above 50, likely to break if current support does not hold. The stochastics on the other hand is at a key level, if the higher low projection does not hold, the sell cross will increase momentum to the downside.
Volume is declining; technically this leads to an influx at key trade locations.
Overall, in my opinion, CURA needs to hold structural support for a probable higher low. With the declining volume at support, this is an indication of an impulsive move. If support breaks then the macro trend is still intact.
What are your thoughts?
Please leave a like and comment,
And remember,
“Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.” ― Yvan Byeajee
Daily Chart on $MJ Breakout or Fakout?The MJ Sector has been down-trending since March of 2019, still has yet to see a real bounce with a solid continuation. As of May 2020 it looks like we are ready to bounce but still, I am weary that they will do another fakeout breakout.
Anyhow, I am expecting MJ's price to eventually break above these down-trending lines. They are still rejecting the price down, so we could see a pullback or a breakout above the down-trending lines as it looks like we are squeezing once again.
Anyhow GLTA & Collect those sweet dividends.
Cannabis Looking Strong. (MJ)Last post on MJ Alternative Harvest we started we were opening longs @ $11.90
Currently sitting up 5%
We took this position based off the large timeframes, the weekly and 2 week.
Now you see a breakout with a settlement back on old Resistance to test as support.
Key is to play this as support. If it shifted right and than turned to break support back below the pattern upward support. We would than look for possible Retracement.
I'll stay put with my position for now.
This could be a really good time to diversify into the cannabis sector.
Enjoy, hope she keeps trucking!
Will keep you updated
MJ Trending UpETFMG Alternative Harvest (NYSE: MJ )
What is ETFMG Alternative Harvest?
An ETF that acceptance of various uses of the cannabis plant such as pharmaceuticals, biotechnology and life sciences,
JesusTrade Score:
Buy
Scale Score:
Low (3/10)
Portfolio Hold:
Yearly Hold
Fundamental Reasoning:
The following below are the top 10 holding for MJ:
GW Pharmaceuticals PLC Sponsored ADR (GWPH) Aphria Inc (APHA) Aurora Cannabis Inc. (ACB) MediPharm Labs Corp. (MEDIF)
Cronos Group Inc (CRON) Corbus Pharmaceuticals Holdings Inc (CRBP) OrganiGram Holdings Inc (OGI)
Canopy Growth Corporation (CGC) Tilray, Inc. (TLRY) Swedish Match AB (SWMAF)
All of these but Tilray and Swedish Match have bullish diverange and have broke out. Tilray could just follow the hype of the other stocks and Swedish Match has been having an up trend since March of 2009 and has about $30 more to run. With mojirty of these stocks being worth less than $10 or even $5. I don't see why the volume wouldn't be coming in. On google trends there an increase of cannabis and cannabis companies being searched. which gives me a idea that new buyers could be coming.
Maybe Cannabis Is The Cure For The Virus, LoL (MJ)Will be opening long positions on the cannabis ETF alternative Harvest. (MJ)
Weekly is compressing for momentum shift to the buyers.
This is a 3day, right on the money crossover.
Good risk to reward. I like it.
