Cannabis
GROW LongBroke out of descending wedge today, daily stochastic and RSI crossed out of oversold. Nice rebound from support in low 0.20s. Weekly candle looks like trend reversal, very few shares for sale and bids stacking up. Next few weeks should be good!
Hopefully see 0.40 again soon. Health Canada clarification October 17th for use on cannabis and new contracts being signed in the near future!
A new eraThe power of social media influence will drive the Ignite brand over 100% before Danny B takes some Belfort heat.
Inverse Head & Shoulder?RSI is trading in what seems like a ascending triangle as well.
Interesting.
TNY Update. RSI is low on a 1 year chart.This is the same chart as my previous, just zoomed out on a 1 year time frame to give a better Macro picture.
What appeared to be a descending triangle on a smaller time frame in the chart linked to this post, still visible on the 1 year chart as well, was exactly that.
Now it appears TNY is getting ready to break through this "potential" Ascending Triangle & create a new higher low! Some news would help, and these are "some" of the "potential" news releases to be expected in the upcoming days, weeks or months ahead.
-LB Licensing
-Nevada Partnership
-Phase 2 equipment moving to Nevada
-Co-packing Clients (2 done, 6 in negotiation, and likely more coming)
-Expansion of LB with new bottling lines because of too many co-packing clients
-Canadian LP partners
Time will tell per usual.
CGC buying the for LONG (2+ years)Buying at ~ 26.39. Buy under Green line. Sell at red line.
My fair value for this company is $47.02 per share.
Should you buy this marijuana stock - MDCL?There has been a lot of news about Medicine Man Technologies acquiring more market share of the cannabis or marijuana sector in Colorado that has pushed this stock from $1 to $4 in 2019, but is it just hype?
SPRWF Triangle play here. All levels are marked, chart is easy to understand. Looks like it bouncing good, fell to .93c and back to 1.09$ right away, so buying pressure is here.
Will see how it plays out on upcoming week.
I give it 4 years and we will see this grow. CEO HAS PASSIONVery clear levels are being shown here for people to play in :) 1.00 support is holding.
First support after impulse was .66 cents a test lower is still possible but highly improbably with harvest season entering. Time to offload and make profits then rinse and repeat for growth.
I have highlighted the False W and accumulation examples on this as well. Be on the lookout for a possible fail at 1.32 again
youtu.be
Trulieve Cannabis Corp After doing some research on this company, I would give it a chance. We have hit bottom and bounced nicely. So I will expect two things...
1. We just continue up with no pullback to around Jan 15 - 17 high of earlier this year. Minor correction or consolidation zone around 10 that could breakout and has the probability to make a run for it to 15 or higher. Production of hemp and cannabis went up about 500% in the U.S. back in 2016..since then its been spend spend spend to develop the industry in america and make it profitable. I actually am focusing on these companies in my recruitment business and what better way than to support them via stocks as well? Ill buy at these levels :) Low risk higher reward.
CRON house of pain over? CRON has been on a horrible downfall over the past months. Looks like it could have found its bottom. On a technical basis looking for a trade to 14$
TNY updare.So, since the last time I posted a chart on TNY we were trading in descending triangle that broke to the downside on a "short term time frame." I had mentioned that the pattern could also be a bull flag , but that was not the case.
It is interesting however to see Tinley get back up to the 56c level where there seems to be historic support dating back to Aug 2018.
I can speculate all I want about where the share price may be in the future, but only time will tell per usual.
MJ signaling oversold conditions in the cannabis marketCannabis stocks have corrected dramatically despite strong fundamentals across the industry.
Looking at the MJ ETF gives some indication of the oversold state of the broader cannabis market. The RSI is low and the ETF is currently trading beneath its 9-day moving average. Almost every single time this has happened in the past, the ETF has bounced back.
There's every reason to be bullish on the sector and this correction has created a buying opportunity not just in ETFs but in many individual cannabis stocks as well.
Investing in Cannabis Stocks / Aurora Cannabis
The fact that all eyes are on Aurora should surprise absolutely no one.
Aurora Cannabis is the most-held stock on online investing app Robinhood, and the company is projected to be Canada's production leader.
Maybe, just maybe, Aurora might also have some big news on the partnership front.
The company brought billionaire investor Nelson Peltz on board in March to help line up deals with major partners outside of the cannabis industry.
The information provided here is not financial advice.
Action off the squeeze NUTSXV:NU
I've been watching this approaching its 52 week low for some time and as a business they fail to really excite me. As a trading opportunity, however...
In the life of this stock it has touched the top of the BB9 on the weekly chart three times after a squeeze. Each time was followed by significant upward action. As the volume profile tells us that most of this stock was traded in the 14 to 18 cent range, I am quite happy taking a position around 8 or 9 cents. Given the industry that they are in and the revenue the cannabis industry is currently enjoying, I cannot see this stock breaking it's 52 week low of 6.5 cents, which is where my stop loss would be for a loss of 1.5 cents per share. Risking a potential loss of around 18% for a potential easy gain of 50% to potentially much more, in an industry that is booming globally, on a stock that has historically demonstrated upward action off performance it is exhibiting currently - I feel strongly that this is a no brainer for a 'quick buck'.
When Will The Bleeding End For NBEV?This has gone from Prom king to drop out real quick. I think a lot may have had to do with expectations built up over time but at the end of the day, who really knows? Let's hope that October is better to them than other months considering what's set to happen in the industry in Canada.
"Clearly, the hype from the deal has proved to be nothing more than that; hype. Right now investors might also feel that the company vastly overstated their capabilities. The question now is will NBEV stock continue its slide or can it recover before the end of the year?"
Original Article: Penny Stocks To Buy Or Sell: New Age Beverages (NBEV)
CANNABIS STOCK - LONG-TERM OPPORTUNITY The Cannabis market is obviously promising.
The Potential of growth of this market is enormous,
if cannabis becomes gradually just like any recreational activity and starts to compete with wine and spirits
for favorite way to be absent minded the potential of profit is gigantic .
Here we have a promising market, a company that is in loss for this quarter but that has sound financial balance sheets.
the classical good company in bad times.
Good time to buy. Its still uncertain if we can buy at around 29 or at around 11.
i think we have to buy now and latter buy again if the price goes down again.
or we can just wait for the StochRsi to get out of the oversold zone as a confirmation in smaller time-frames.
This is the exact time when the big Guys start to accumulate, maybe is the right time for us to enter with the smart money as well.
Feel free to put a like , follow or comment.
CGC: On Extended Flat Correction in Corrective Grand Super CycleChart Watch:
7/13 - CGC is now more likely in a W(IV) double three that is going to end in a 3-3-5 extended flat correction.
On the 3rd leg impulse wave down within the 3-3-5 flat correction, we are looking at a 3rd Wave extension.
Scenario: 3rd Wave Extension: W3 is longest and can be any length. W1 and W5 are equal length (1.00)
Status: IN PLAY
W1(0) = 52.74
W2(1) = 44.17
W3(1) = unknown but look at Fib lines of support from Waves of higher degree
= W(III) 0.5 support at 32.07 and 0.382 support at 25.66
But W3 length must be greater than W1 length if W3 extension
Therefore W3(1) must be less than W2(1) - W1 length = 44.17 - 14.36 = 29.81
W3(1) < 29.81
= 25.66 or 0.382 of W(III) Fib support
W4(1) = unknown but typically retraces 0.382 of W3 length
= (a) IF W3 bounces on 32.07 Fib 0.5 support THEN W4(1) = W3(1) 32.07 + W3 length (44.17-32.07)*.382
= 36.69
= (b) IF W3 bounces on 25.66 Fib 0.382 support THEN W4(1) = W3(1) 25.66 + W3 length (44.17-25.66)*.382
= 32.73
W5(1) = uknnown but W4(1) - W5(1) = W1 length = 14.36
= W4(1) - W1 Length
= (a) 36.69 - 14.36
= 22.33
= (b) 32.73 - 14.36
= 18.37
VGW: 3.58 to 4.77 to Record Highs through Q4 2019VGW has been oversold recently due to the Cannabis industry and the overall downfall of the sector. However, often times dollar stocks in the Cannabis industry (and in any sector as a matter of fact), typically are delayed in terms of their rebounds relative to the big players.
The rebound has started for the large players already in the sector and I expect VGW to rebound significantly - especially based on significantly beat revenue numbers from the last quarter. There will be heavy resistance from about 3.80-4.00, however, I expect by September, VGW should be near 4.50.
VGW revenue, profit, adjusted EBITDA all soared quarter to quarter. This is one of the few companies that have continuously grown from quarter to quarter with no sign of slowing due to their methodologies.
It is important to note that previous session bearishness on dollar stocks rarely get carried over session to session. Therefore, it is important to study for a good entry, but do not let a poor one day session influence you from missing out of a dollar stock all together.
- zSplit
Tilray: Where is the Bottom? When's the Real Rebound?As I expected prior to Tilray announcing their Quarterly earnings, I expected disappointment and therefore a push down. Contrary to many people being bullish based on the trend appearing of Wyckoff in nature, I focus on the balance sheets and earnings more predominantly than simply basing my decisions on trends.
In today's market manipulation, it is foolish to only look at technical patterns and indicators, but rather, investors must look at a plethora of indicators.
Given the overall somewhat poor sentiment on the stock market due to geopolitical factors, I see little reason for big money to risk money in the cannabis sector right now. With continued turmoil from CannTrust I believe Tilray may bottom out around 23.50. Always wait for a re-test after the initial break-out for stocks prior to buying.
In general, I see a very slow uptrend for Tilray (until 52.50), almost similar in appearance to MAXR. We will get higher eventually, but not anytime soon. If you can enter below 25.00 I would definitely throw 3-4% of your portfolio in the stock but don't expect significant ROE for quite a while.
Watch for a lot of false break-outs from 35-43.50 during whenever the next uptrend sha'll be.
-- zSplit
Double Bottom?Is Curaleaf going to shake off the FUD from the FDA & continue crush the U.S market.
I think so, although they may have stepped over some boundaries with promotion / labeling & making claims on some of their cbd products, it doesn't change the position they have in the U.S with distribution.
It looks like CURA may have found a double bottom?
Time will tell per usual.
