WEED Possible Continuation Cycle Beautiful continuation cycle on WEED daily. The pattern favors a bull break, but there will be good momentum whichever way it breaks.
Weed
WEED: MAD CONEZ; Getting HigherThere appears to be a nice bullish continuation pattern forming on WEED. The upward break from this pennant is $25-27.
WEED long idea.WEED is in a strong parabolic uptrend. Removing supply and creating demand zones. Current price (~16$) is not an area to buy the stock at. Wait for pullback to enter the trend.
POTN with the Bounce off support looking to go higherPossible long with the bounce off support for POTN.
USDCADWe've had that all important rejection of the 1.25 level. I was being a pussy so i missed out on a few pips since the rejection. I missed my opportunity on it but I'll still be trading the 4HR breakout swings. We may see some ranging on this pair. The steeper it gets, the weaker. SO, before we see a long opportunity, UC will range for a few days and consolidate the position. The soaring Loonie has come to roost - you could say. Or We're seeing the take off of the American eagle. WHO KNOWS HA
Growing and Going HigherSee the related idea below for more commentary. This is a bigger picture wave count for WEED that is clearer to see using a line chart.
According to this count, just shy of validation, we are in wave ((iii)) of 3 of (1) of ((5)). Lots of upside!
WEED buy signals$WEED is just shy of invalidating the bearish count (red). Things are looking bullish for WEED based on the blue Elliott Wave count. A three wave zigzag (A)-(B)-(C) completed in June and the initial build up of 1-2 waves is what we see now.
Additionally, the changing to a negative social mood supports from a socionomic perspective the repeal of prohibition. This is apparent in the macro trend of legalization state to state in the US. Colorado's legalization as an example has increased state revenues, another factor that may sway more states to vote yes for legalizing marijuana. The growth opportunity and bullish sentiment for weed has lots of upside for higher highs ;)
The first buy signal, a break and close above the wave 1 high is in. The next confirmation/buy signal is the break and close above the wave (1) red low. This is currently key resistance to break. After we could see price pull back to the current levels but the break and close above the red dashed line will confirm the blue count is underway.
ammj shows pure speculation plays follow fib linesPure Speculation, without any underlying basis for price, is a pure expression of human emotion. Therefore, Fibonacci, in my opinion, is reliable, because human emotion is an expression of the universe, and Fibonacci is ubiquitous in our universe, seen in everything
This is shown with AMMJ, one of the most traded marijuana stocks during the California election run up
AURORA CANNABISI drove past the new project site the Edmonton International Airport. It will be the world's largest single cannabis growing operation from my understanding.
I not sure why anyone wouldn't buy with a chart like that but it's only my opinion.
Especially with the 20 MA crossing the 100 MA
WEED(TSX) potential reversalOn watch, a bit early as will ramp up likely towards 2018 july. will wait for confirmation after next weekly close. $WEED $HMMJ (TSX)
Optimal Trade EntryWilliams %R still not oversold. Bids set in yellow box. Also have a series of three higher highs indicating possible trend up (although we have been trading in a range since November). Aurora may be more efficient than other Cannabis companies once their new facilities are constructed.
OWCP is not going to the moon.While many fans of marijuana stocks are pointing towards an upward move, i am sure that this stock has reached it's peak for a long time now. The chart shows a lot of stagnation and resistance near 0.70 and the stock could dip lower anytime now.
Many factors point towards a red flag:
1) This company is based overseas, and conducts research overseas, meaning there are very few ways to monitor their progress when it comes to their claims.
2) This is still a pennystock, while some might be tempted to take risks, the slightest mistake by the company will cause investors to lose all their money, rapidly.
3) If the pharmaceutical research fails, the owners could dump their shares knowing they cannot profit further from this venture, causing investors to lose their money.
4) The only product they got going for them is a skin cream, and this has very little impact of the market as it is.
I see people pumping thousands into this stock hoping for an easy pay day, don't do it. Wait until it dips and take the risk on a smaller scale, if it goes up, average up and rack in the money. Is this a pump and dump ? Judging from the company's audited statements, probably not, however they are walking on thin ice here, so don't jump into the hype.
USMJ Cannabis infused water..whaaat??OTC:USMJ
With Cannabis's strong hold on the U.S. I would jump on board soon and hold long!!
Mettrum Health Corp - Ascending Triangle Breakout?Looking for a break of $5.50 level, retest, and bounce.
Mettrum Health Corp - Ascending Traingle Breakout?What do you guys think? It's been in consolidation for so long now. Poised to break out?
POTBTC - weedcoin hype 2017imo weedcoin hype is coming in few months because of upcoming weed legalization in Canada
XXII daily long entryDeclines according to tradingview measure tool. Look for a bottom around mid-high .70s all things constant. Needs bullish signal! Backup entry .55-.61 range. Hope this helps if you are long. Just my advice from personal study. Happy Trading!
The entire sector has fallenThe entire Cannabis OTC sector seems to be in absolute peril the last few days.
I know many are cutting their losses and getting out, so forgive me for being a bit of a bag holder now and and buckling in for the storm.
I do not know how much further down this will go, nobody does. I've lost about $800 or so since opening today on this stock, but I'm still going to gamble here and hold this through Jan/Feb and reevaluate then.
I don't know why we're dumping across the sector this week, other than people bought the hype and sold the news.
Looking at MJNA's lifetime chart, some of the historic runups in price came Jan/Feb so I'm optimistic for the future of Cannabis as an investment. I don't think 2 days of straight dumps after legalization in some major states is representative of the sector as a whole long term.
Lets see. If you're holding with me, buckle up!
Do not forget- Trump will be good for Medical Marijuana!MJNA did not perform this week like I expected it to. Admittedly I was one of those guys who thought we'd see 40 or 50 cents by now, but I will still be holding my shares hoping that in the next few weeks we can see some major moves being made with the stock.
Something that I think a lot of people are forgetting on social media is that Trump will be GREAT for the Cannabis industry. Trump is in favor of medical marijuana and the states rights to vote for it.
The entire market is a mess today, so give MJNA some time. I wont be panic selling, even after taking a big loss today.
