$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
Mjstocks
$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
$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
Swing Trade Alert: Long over $11.90 > Price/Fair Value = 0.47Looking for a great deal ETF? this is one to keep an eye on.
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??
$APHA Dip at OPEN will be a BUYING opportunity!!APHA will likely dip towards the 200MA
on the open but then will raise to get
back into the previously established channel
on its way to:
1st TARGET - 7 and 25pennys
Half a BILLION in $$$$
This company has a STRONG balance sheet!
HEXOtook a long on HEXO TP is around $3.60 after hitting $2 resistance I will probably sell and renter.
$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!
Can MJ June 10 2020 - CGC CRON APHA ACB TLRY VFFSome key support tests across the sector first thing tomorrow, aside from VFF, which looks to test resistance first thing. Take a look at the weekly charts, these setups are very different from one another.
One of my favourite bullish formations - CUP & HANDLETechnicals evidently look Bullish, fundamentally undervalued as well
$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....
$CRON Possible resistance but by the 5th Moon.......CRON could move lower on a SHORT but by the 5th Moon
we will see if the line of resistance can be broken!
$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
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
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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!
TLRY - Potential BreakoutAlerted for volume on TLRY, approaching big resistance with room above and forming right hand side green cloud support for a move up. In 20, 20$ calls for end of June - good luck if you play!
MJ - you knowThis sector has to do well from here. More states and federal are going to need more tax revenues..
ACBbottoms in on this one for now, I think an exit pump is coming next few weeks, looks eerily similar to WLL right B4 250% pump
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
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.
