WEED update, bouncing off of fib. Coming down price action has bounced off of 50% from peak to peak values from the high in the 40s to the low in the 20s. Now looking with strong downward pull from bears. The retrace is almost surely over and this stock will resume its downtrend for now most likely.Shortby MysteriousPersian3
How's the WEED?For a brief time we crossed resistance, but retraced and are now keeping in line with the support and resistance channel that has being tested and is currently consolidating. For the time being, the support line has been moved up, although keep an eye out or have a stop loss somewhere just below, maybe ~30.50. This is due to a slightly looming green shadow that was cast earlier this morning. Luckily it never formed a head and shoulders and held support quite nice. Hopefully this consolidation can take us in the right direction.by BTCanadian223
These WEEDs are out of control!After a brief pullback at the neckline, this Monday is showing up with some serious numbers! The support lines, as well as the downward trend line has moved up as we rocket through resistance, landing right in line with the arrow that I had indicated on the chart before last. When you approach a neck line like the one that we have just crossed, you should always be weary of a little pull back. Flying past 31.00 and almost clearing a whole retrace zone in one day, we approach new resistance, it can be anticipated that we will confirm new support when we close above, for the second time on the 4h chart. This may also be forming a head and shoulders or W pattern, where the top of the head will be will be at the resistance line. If it bounces off the next resistance hard at the 61.8% retrace, it might come down to complete that pattern, landing where the 8 day line touches support. Let's see how tomorrow plays out, if it does like it did today, it shouldn't take much to hit ~36.00. Thank you for viewing my charts!by BTCanadianUpdated 113
WEED Price Action AnalysisCurrently in consolidation within the control zone. Watch for a close above $30 to break out into an uptrend or a close below $26.12 for a break out into a down trend.by dencor223
Bounced off resistance unexpectedly.Unfortunately, we didn't even close above the 0.5 re-trace, bouncing off the resistance pretty hard. Generally, closing with no shadow on a that big of a green candle would indicate an increase. There was definitely buyer volume coming in, although not quite as much as 02-05-2018, but we can see that the market opened with a giant shadow at the bottom of the candle. This indicates to me that there was most likely some whales that were waiting at that resistance/re-trace and took profit on that giant spread. I was hoping that something like that wasn't going to be the case. This is why the use of stop loss is vital, and to respect support and resistance. The Bloomberg article published yesterday that essentially called out the valuations of investors, probably didn't aide in new conviction. I have added a new green trend line to indicate a slightly more sideways channel we are in. It is to early to determine if we are going to see a head and shoulders pattern that could take us above resistance. We are still looking good long. For now, it appears as though we may work our way down to re-test the support area, indicated by where the blue dotted lines intersect the 8 and 13 EMA's. www.bloomberg.com Thank you for viewing my charts!by BTCanadian2
After completing a ABC and small rally, we are going lowerAfter completing a ABC correction from its All time High on the daily chart ...and having small rally from there...it looks like the whole market is heading towards at least another correction... one the ABCDE, once price approaches or even breaches E I would go short on any pop... TIme frame is hard to tell, but March is looking tough for the stock market as a whole. March 2-8 may be a key datesShortby ecbuddyUpdated 3
Don't get high on your own supply-Huge news for Tweed getting go ahead on 1.3 M sq ft greenhouses in BC -Rec. stores in Manitoba -Speculation of NASDAQ listing -Increasing bullish volume on the daily chart -Bullish MACD cross -Could be a "laggard" to MJN?? -Currently holding WEED overnight and hoping for a significant gap up, causing RSI levels to get to extreme highs on the hourly and shorter timeframe charts. IF this happens, I'll look to sell (likely right at open) and re-buy in (looking for a possible bounce off the $30.00 lvl) using 1/5 min chart RSI indication for an oversold bounce right after exiting. Lets hope this is the start of a very nice break out to, dare I say, all time highs???Longby killercoady3
Am I seeing things?Wow 9.54%! We absolutely blew past any form of futile resistance that I thought may have held us up a bit, into the 0.5 Fibonacci re-trace zone, waiting for an almost guaranteed close tomorrow to confirm above 29.50. I'm moving the support lines up faster than I can buy. The bulls are in full force with no sign of a flag, and even though I've drawn some measly resistance that we could stagger at, the volume right now is just to massive for me to believe that we will be stopped dead at 31.00. Today closed with essentially no wick, so tomorrow, hopefully we can make it there and past. I haven't seen a breakout like this since "The Shawshank Redemption". Thank you for viewing my charts!by BTCanadian444
Heavy resistance. New support.There is still some seriously heavy resistance that we will have to face, considering it just barely cleared above the previous, with a long green wick although. I have moved the upward trend line to reflect the newly created likely support area, indicated by the green dashed line. If we can confirm a second retest above the current dashed red resistance line, the blue support can then be moved up along with it, and new resistance will be placed at ~28.75 and 29.70. I still do believe that unless the volume comes in, it will be a struggle to break past the point where the 8 and 13 lines cross the current resistance level at 28.0. If it does go up and bounce around in that resistance channel again, it could be forming the beginning of a left shoulder of head and shoulders pattern that can hopefully break us out of the .5 Fib. retrace. Thank you for viewing my charts!by BTCanadian4
Potential Short Term Future for WEEDJust an educated possibility of what I could see happening on WEED :) More of a tracking measure than anything, hope there may be some takeaway from this. Nailed the bottom followed by the top today(FEB26) through a MM method. by koples0
Consolidation station.It is looking it will consolidate for quite some time, however, they have just acquired the license for a facility in Aldergrove B.C. It will be interesting to see if it remains bearish during the primary phases of that operation. There's an indication it might retrace the .236 Fibonacci, where it intersects the upward trend line at this point, because support has already been established twice there. Hopefully it bounces off and keeps going in the right direction.by BTCanadian3
WEED on track long-termWe're currently bouncing consistently off the long-term trendline, and I expect this to continue on our slow and steady consolidation. We're seeing decreasing daily bear volume... so I would expect a bump up come Monday-Tuesday, to continue our slow and steady upward trend. I'd look to see money flowing back into the sector come late-March - April, as smart money wants to get in before the inevitable run-up to legalization. If the trendline breaks significantly, I would expect a further move to the downside.Longby DuncanMcGillivray1
Aurora Cannabis getting high-er?After a nice run up then a consolidation soon time to move higher? If price gets above 30 could get interesting.Longby CTCapital0
WEED Fib RetracementFirst chart ever, so take it easy on me. I'm looking at the Fib levels for the crazy run-up WEED saw around the new year. It seems we tested the .382 multiple times before ultimately falling through, and it is now acting as resistance. We've seen several tests at the .5 level and I think we will fall through and have to test the .618 level as well. The dotted green trend line shows where we would be if we had continued on the trend since last year's major consolidation, prior to the big runs we started seeing in September and then the huge ones in November and December. This line ultimately converges at the .786 Fib level in June, which incidentally is about the time the consolidation ended last year after similar bull runs around the new year. I don't think it's unlikely to see WEED trading near $15 again before legalization hits, and then let the bulls take over in the month or so prior to the big event. I'm certainly not encouraging anyone to make any decisions based on this. Just an idea. Reposted several times as I'm still trying to figure out the ideal display so the chart's not so cluttered. Sorry about that.by alexshouse3
chart showing 5 elliot wave combo withing the bigger wave setelliot waves within elliot wavesby MysteriousPersian0
long setup buy zonePretty self explanatory. This is just add on to the linked chartLongby MysteriousPersian0
Consolidating before moving up to $37Charts seems to be indicating consolidation at the 50 SMA. Next noticeable resistance is near $37 IMOby tradingsailerUpdated 114
WEED breaks out of a triangleWill WEED clear the triangle with that upward move and confirm the bullish flag?? If it holds, then the higher range is possible.by afshin0
WEED - LONG TERM sees support from upcoming legalization The upper red lines have previously been resistances but now with upcoming legalization we could see the lower green line act as a support, especially since the upper red line has been broken.Longby GaganSinghUpdated 116
Tues will be interesting. Lets see if news and retail can overpower the algos. the black circle is where i think it should at least touch next week, with the halt and anticipated news, who knows. My bet is the algos still win, but i've been wrong before. by NiceDays222
HS pattern in strong downward channel - WEEDWeed has formed an almost complete head and shoulder pattern. It formed perfectly within the strong downward channel (green dotted lines). I expect we are going to see price falling at least towards 23.5 but most likely towards 21.4. If that last called scenario is confirmed a descending wedge is forming with the purple line and green dotted top line of the downward channel. IMO this could lead into an upwards breakout and a turn around into some bullish price movement. I'm learning. Please let me know what you think of this analysis.by brunskovic663