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WEED - Only two levels matterIn the past few ideas I've been pointing viewers to the intraday charts on WEED and I'm no longer doing that. The price action remains so choppy within this range I've become convinced there's no use for it for the pattern. We now have two green days in a row, but because Oct 11th had a much lower open, we still don't have two "real" green days in a row - where the close is higher than the previous day. Our high of day also rejected from the uptrend line we lost on Wednesday. We have a descending wedge pattern on our RSI, showing hidden bullish divergence. We see the same type of divergence on the MACD as well. Part of the unclarity lies in that we don't have a clear level of resistance, but rather we have bands of resistance, so I default to using the outermost extremities of the pattern. Support: 60.14 Resistance: 66.19 These are the only numbers that matter to me for CGC. From Friday's close we're only 14% away from all time high; If we break bullish out of our current equilibrium we will test that level, so I'm more than happy to sit back and wait for the clear direction. That said, bottom-fishing bear breaks of $61 have been profitable over the past week but I would keep a very tight stop on any such attempt. It's also worth noting that I do not chart or play WEED. I chart CGC only - it has significantly more dollar volume so I believe the signals on that chart are more important; but both are worth keeping an eye on - I've seen instances where CGC struggled at a seemingly random price, and it was because WEED was up against a psychological resistance. With that in mind, I see WEED has broke bullish out of the RSI descending wedge but CGC has yet to do so. I also note this RSI pattern on WEED is actually more of a parallel channel. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:WEED
by McGuireTO
CGC - Only two levels matterIn the past few ideas I've been pointing viewers to the intraday charts on CGC and I'm no longer doing that. The price action remains so choppy within this range I've become convinced there's no use for it for the pattern. We now have two green days in a row, but because Oct 11th had a much lower open, we still don't have two "real" green days in a row - where the close is higher than the previous day. Our high of day also rejected from the uptrend line we lost on Wednesday. We have a descending wedge pattern on our RSI, showing hidden bullish divergence. We see the same type of divergence on the MACD as well. Part of the unclarity lies in that we don't have a clear level of resistance, but rather we have bands of resistance, so I default to using the outermost extremities of the pattern. Support: 46.42 Resistance: 51.21 These are the only numbers that matter to me for CGC. From Friday's close we're only 14% away from all time high; If we break bullish out of our current equilibrium we will test that level, so I'm more than happy to sit back and wait for the clear direction. That said, bottom-fishing bear breaks of $47 have been profitable over the past week but I would keep a very tight stop on any such attempt. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
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by McGuireTO
Trulieve - Bears are in controlDear Traders, Trulieve enjoyed a small 4% run after it broke out of the triangle, after this a lot of selling pressure occurred, as this stock is quite new on the market, we can't tell much yet. For example, there is still no 55 ema showing, no 100 ema and also no 200ema. Once these indicators will show up we will be abel to tell more about trulieve price action and most importantly, trulieve's future! Any thoughts? Feel free to join my new Discord Channel if you interested in talking to me and others about stocks, info and of course opportunities! discord.gg Thanks !
OTC:TCNNFShort
by Raw_Blitz
TGOD - Going Bullish Soon ?Dear Traders, For those who entered TGOD at 3-5 C$ I hope you could enjoy some great profits from this stock. I was so thrilled to see it go down as it did. Finally, we reached the Buy Zone! Traders are jumping in creating more Volume compared to previous days, and TGOD is now attacking the 100 ema, and after that the 200 ema ! Those lines are the resistance points we need to keep an eye on if we enter a trade here. Right now TGOD's bulls are trying to breach the 55 ema, which could happen soon. So, what are you thoughts ? Time to buy ? Wait for lower price ? Feel free to join my new Discord Channel if you interested in talking to me and others about stocks, info and of course opportunities! discord.gg Thanks !
TLong
by Raw_Blitz
13
Aurora Cannabis - What Now ?Dear Traders, Yesterday was a pretty weird day for ACB, we expected a run, we got one, but it wasn't as powerful as we hopped. I new All Time High (ATH) got created tho, but the question is, is there more to come Reviewing the Chart I decided to trace some lines to see where wee are at. As we all can see Our RSI is still above 50 but for how long ? Our MACD isn't ready to cross upwards yet so this makes me feel like this price is going down more. Towards the 55 ema (blue line). If the bulls manage to open with a nice bump it would do some good to this chart, but if we open with a downtrend, that 55 ema is imminent. I personally enterred a position yesterday hoping the bulls would create a run-up last minute but that didn't happen and my stoploss is set but not hit yet. Let's see how this plays-off today! If the 55 ema get's hit, do make sure to look at what the MACD is doing and where the RSI is at before making an entry. We are now inside a bearish channel and the only way the price will go up is if the bulls manage to breakout of it. For now i'm Neutral regarding Aurora but with some luck and some good volume, we could see something good coming out of this, but that ain't certain at all. My opinion? stay out until further notice.
TSX:ACB
by Raw_Blitz
7
WEED - Technical AnalysisDear Traders, Let's have a look at WEED (Canopy), since it reached it's new ATH, WEED has been retracing back to the 55 ema (Which is a common thing). But the question was, will that 55 ema hold, well for now it does, but this week has been very volatile. As long as we stay above that 55 ema, we are in a bullish mood/trend. If we succeed in staying above the 55 ema, our next target will be the 0.5 fib level that serves as a huge resistance for WEED. Bulls have tried multiple times to breach it but without success. And until that 0.5 fib level hasn't fallen, we won't see any run soon. Any thoughts ?
TSX:WEED
by Raw_Blitz
AUXLY - Techincal AnalysisDear Traders, After a 116% run, AUXLY is arming it self for a new breakout. Price action is above the 55,100 and 200 ema on the hourly Chart, which is bullish. The MACD just crossed downwards, which should be bearish, we will know soon. If AUXLY's price manages to stay above those EMA's, I would enter a trade. That 200 ema looks like a perfect entry point. A breakout above 1.25 would confirm that this is a bullish trend. BUT that 200 ema must hold. About Auxly Cannabis Group Inc. Cannabis Wheaton Income Corp is an investment and merchant company. It seeks to provide investor returns through streams and capital appreciation in the cannabis industry of Canada.
X
by Raw_Blitz
2
WEED clearest on the 4hrWEED has an inside bar on the daily and the daily chart is a little clearer here than it is for CGC but I still prefer the 4hr chart for the big picture. Our key support is 60.55 and key resistance is 64.99. I'm very impressed how well the entire mj sector is holding up in the face of market weakness. That said... For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:WEED
by McGuireTO
CGC greatest clarity on the 4hr chartCGC looks to have set its lower high in our 4ht equilibrium today at 48.34 but we haven't yet pulled back enough to make us confident. For me, the key resistance is still 49.88. Support in our pattern is 45.01. I find the clearest picture here on the 4hr chart, as smaller timeframes are choppy and the daily chart is very unclear. I'm very impressed how well the entire mj sector is holding up in the face of market weakness. That said... For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
C
by McGuireTO
2
CGC is very tightCGC's short term direction will be decided on the ongoing equilibrium on its 4hr chart. The key levels are 46.63 support to 50.99 resistance. Our lower high may be 49.88 if looking at the details of the 1hr chart. Expect choppy action in this right range. 46.42 is the must hold level to maintain the daily uptrend the bulls just took back. For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
C
by McGuireTO
1
LHS - Technical AnalysisDear Traders, After a whopping 170% run, Liberty Health Sciences (LHSIF), Has started it's retracement, and in my opinion, it's not done retracing just yet. If you look at the green circle you'll find a perfect entry. a bounce off of the 0.50fib level where the 55 ema and the 200 ema is located. If a bounce off takes place, there is also a chance that the 55 ema crosses the 200 ema which would be very bullish in our case. What are your thoughts? NEWS: technical420.com About Liberty Health Sciences Inc: Liberty Health Sciences Inc. manufactures and distributes medical cannabis. The Company cultivates and markets pharmaceutical grade marijuana. Liberty Health Sciences markets its products in the United States and Canada.
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by Raw_Blitz
2
TILRAY - Tecnical AnalysisDear Traders, After TILRAY's crazy 92% run, it was time for it to retrace, and it did. Now that TILRAY has found support at the 0.382 fib level, we need to think. There are 2 possibilities here, or we retrace down to the 200 ema (which would be logic), or we have found enough support at this fib level to start building up again. I drew a green line marking a resistance line, and TLRY needs to breakout of it before turning bullish again. A good entry would be the 200 ema on the 1hr chart. What are your thoughts ?
NASDAQ:TLRY
by Raw_Blitz
GTEC - 200 ema entry point?Dear Traders, A little update on the GTEC stock. Our MACD shows us a Bullish Continuing Divergence, which is a bullish sign. This combined with the 200 ema being close, I'm expecting a bounce off from that 200 ema located at 1.08$. This might be a very good entry point in my opinion, but, if you are entering I would choose your stoploss carefully. I'm saying this because on a GTEC Bullboard, i saw some negative messages coming by such as : ''recent press release said they lost an expansion because the city voted no. also they just applied for an alberta sales license, I work for the AGLC, this process takes 4 months.'' People are saying it's price will drop under 1$ blablabla... This could be to create FUD, so that they can buy cheaper. I'm only relying on TA. Fud is something you come across on each forum about a stock unfortunately.. I didnt find any official press release backing up the negativity this person said on the bullboard so let's see how this plays off.
G
by Raw_Blitz
WEED is indecision defined WEED wasn't trading yesterday so I'm looking to CGC for much of my information. CGC today printed a daily inside bar and intraday we saw very choppy action. I definitely did not expect this after such a strong day Monday that broke daily resistance. Today's volume is in line with yesterday's volume , which is also unusual for an inside bar day. RSI is back within the descending wedge pattern after rejecting from the attempted breakout yesterday, so the hidden bullish divergence on the MACD and RSI hasn't yet, in fact, played out. The key daily support to keep the bulls in control is 60.14. The key daily resistance to break to see continuation is 66.19. The gap-up bull break with no followthrough is concerning and had me looking for a wedge , but I find it difficult to draw a wedge pattern. While the American ticker has more of a parallel channel, the Canadian ticker definitely has an ascending wedge to watch for. We are now a full month without seeing two green days in a row. Every red day we see between now and legalization is a significant strike against the possibility of seeing all time highs into Oct 17th. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:WEED
by McGuireTO
3
CGC is indecision defined.CGC today printed a daily inside bar and intraday we saw very choppy action. I definitely did not expect this after such a strong day Monday that broke daily resistance. Today's volume is in line with yesterday's volume, which is also unusual for an inside bar day. RSI is back within the descending wedge pattern after rejecting from the attempted breakout yesterday, so the hidden bullish divergence on the MACD and RSI hasn't yet, in fact, played out. The key daily support to keep the bulls in control is 46.42, but losing the low of Monday 47.49 would be enough of a bearish signal to me. The key daily resistance to break to see continuation is 51.21. The bull break yesterday with no followthrough is concerning and had me looking for a wedge, but I find it difficult to draw a wedge pattern. Looking at the hourly chart I feel the pattern is more of a parallel channel, but I'm not really a fan of my trendline either given it's drawn from wicks (not real bodies) and I have a wick-violation of the trendline. The hourly MACD is also showing hints of hidden bullish divergence but I cannot draw this line as far back as I can draw the price channel so I give that divergence less weight. The RSI also does not back the divergence up; another notch against the possibility. The conflicting signals I'm seeing across different timeframes don't give me a lot of confidence on the direction we're looking and I'm really going to have to see a break of our key daily range to get a clear signal on where we should be looking. We are now a full month without seeing two green days in a row. Every red day we see between now and legalization is a significant strike against the possibility of seeing all time highs into Oct 17th. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
C
by McGuireTO
2
Aurora Cannabis Inc - New All Times High Incoming !Dear Traders, Aurora Cannabis Appears Headed to the New York Stock Exchange! This news came out yesterday just before the closing of the market. And as we can see ACB's price broke out like we hoped it would, this is the kind of news we needed to get to a new ATH. Read more about the news here: www.newcannabisventures.com Another thing to keep in mind is that Aurora Cannabis Inc. owns 21% of TGOD, so I'm pretty sure TGOD will get benefits from this news. Aurora can still buy up to 51% of TGOD, and this will eventually happen. Let's see how far Aurora will go on Monday! I'll keep you up to date.
TSX:ACBLong
by Raw_Blitz
6