Cannabisstocks
SNDL SUNDIAL GROWERS INC huge upside potentialHere is when i told you that is a buying opportunity on Sundial after the retracement:
Sundial Growers engages in the production and distribution of flower, pre-rolls and vapes. It operates through the following segments: Cannabis, Ornamental Flowers, and Corporate.
Zenabis Global Inc. said Friday it has entered a revolving credit agreement with a Canadian private debt fund for up to C$60 million ($47 million) that it will use to refinance more expensive debt held by Sundial Growers Inc. (marketwatch.com)
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Ascending Triangle for TNY?It appears as though TNY is starting to slightly break the blue upward sloping support of potentially an Ascending Triangle to the downside, it would be ideal if the bulls hold this area of support.
In green, I have drawn what appears to be a longer-term trending descending triangle, or, bullish flag, the green downward sloping resistance is currently being tested, it's already acted as resistance approximately 5-6 times since Aug 2018, the more a trend line is tested the more likely it's going to be broken in either direction.
On the RSI it's noticeable that the blue upward sloping support has been broken to the downside, possibly a H&S formation happening where I've placed the human head and body icon with each shoulder being the green curved lines.
On the KST there's been a bearish cross.
Trulieve Bullish PullbackTrulieve lost -$2.79(-5%) on the day with a closing price of $50.96/share. Price saw an 11% swing from high to low today(candle wick to candle wick) with price closing in the upper 50% of the day's trading range. Short-term support can be watched for at the $47.90 level which was the low for the day. A hold above that low is critical going into the end of the week, should that low be taken out price will likely see a further decline down to the $39.26 level which was where the last low in price was made prior to the rally to $60. This represents the last area of strong demand from traders meaning a hold above that level now would indicate that traders are still bullish on price above $40. The daily price candle also closed green which indicates that the short-term momentum behind price remains bullish.
The first lower indicator below the chart is the Price Percent Oscillator(PPO). This indicator is currently showing the green PPO line declining below the purple signal line which indicates short-term bearish momentum behind price. Both lines remain above the horizontal 0 level though which is the long-term momentum level to watch. Both lines above the 0 level indicate bullish momentum behind price in the intermediate-term while both lines below 0 indicate bearish momentum in the intermediate-term. The way to read the indicator right now is as it showing a short-term pullback inside of an overall uptrend in price, aka a ‘bullish pullback’.
The Average Directional Index(ADX) shows the purple directional line with a recent cross above the green directional line which indicates a short-term shift to bearish momentum from bullish. For the bearish trend to be considered strong, the histogram bars behind the would need to show a series of purple bars that progressively increase in size which for now only shows today’s recent crossover to bearish. A strong reversal to the upside in price tomorrow or Friday could easily flip this indicator bullish again, but for now the ADX is showing a shift to a bearish trend in price.
The Traders Dynamic Index(TDI) shows the yellow line((RSI(Relative Strength Index)) in a steep decline which indicates steady bearish momentum behind price. The yellow RSI line has also crossed below the lower blue line which is the lower Bollinger Band of the RSI. This represents price momentum making a 1.618+ standard deviation from the 20-day momentum average(center blue line) and is a bearish volatility indication. In general, you want to stay short or stay out of a stock when the yellow line is below the lower blue Bollinger Band line as the momentum and volatility favor the bears. The yellow RSI line is also testing the middle dot plots at the 50 level which is the center of the total RSI range(0-100). A yellow RSI line above 50 indicates bullish price momentum in the intermediate-term while an RSI reading below 50 indicates bearish price momentum in the intermediate-term. For now the move is to wait for the yellow RSI line to rise back above the lower Bollinger Band before considering this indicator bullish.
Overall, price is still looking good on a long-term basis with weakness in the short-term expected. From a trend trading perspective, a move above resistance at $60.91 is needed in order for price to gain traction in the uptrend, while a move below $39.26 would indicate that a new bear trend is likely forming in price. That $39.26 level is the most important to watch going forward if the decline in the cannabis sector continues.
TLRY, Flag Breakout Protentional Flag Breakout. resistance sends for a retest. momentum picks up. target of $33 ( weekly resistance) with a slowdown at $30 (phycological and weekly VPVR level).
APHA (TSX) is a daily MAC swing buyI have modified two scripts to show the Jake Bernstein Moving Average Channel (MAC) along with the Williams A/D on the same chart. APHA (TSX) is a MAC buy at the bottom of the channel (C$15.28). The first profit target would be the top of the channel (C$15.95). Also trades on the NYSE under the same symbol, APHA. They are merging with Tilray, so APHA is a good choice if you are looking for a cannabis stock.
Is EXP trading in a Bullish Flag??It appears as though EXP is consolidating into a Bullish Flag in Dark Blue with a Cup and Handling forming Dark Green, two inherently bullish patterns.
This could always be a descending triangle, but when looking at EXP on a long-term chart there's a noticeable bullish cross on the KST, not apparent on the shorter-term time frame I am currently using, just something to keep in mind.
On the RSI it looks similar to the price action, there's no divergence and the indicator is in a neutral area.
MedMen: Wyckoff Accumulation PatternMedMen(MMNFF) has formed a Wyckoff Accumulation Pattern and is currently creating a potential ‘last point of support’ pattern in Phase C after a recent ‘spring’ and ‘test’ of the spring. Price is currently below a resistance level(red) at .22c which stems from a price peak made in September of 2020 and then again in December of 2020. Price must move above the .22c level before more gains can be had.
The expected move going forward for price to continue pushing higher into a ‘build up’ pattern and eventually push on up toward the lower resistance line near $0.40/share. The blue line represents the anticipated path for price.
Aurora Cannabis: Wyckoff Accumulation PatternAurora Cannabis(ACB) has formed a Wyckoff Accumulation Pattern and is currently in the ‘build up’ cycle of Phase D aftering having successfully created a ‘spring’, a ‘test’ of the spring and a ‘last point of support’. Price is currently testing the top ‘support line’ which is currently acting as resistance and stems from the ‘automatic rally’ seen back in March of 2020.
The expected move going forward for price to continue pushing higher in the ‘build up’ and eventually push on up toward the lower resistance line near $20/share. The blue line shows the projected path for price.
$HEXO PT ~38$ CAD before year endCopied 2017 & 2018 patterns
For this to happen, this needs to occur;
1) Hexo’s Q2 record gross revenue ~50M$ + positive EBITDA - earnings should be released around mid-march.
2) US banking and decriminalization by June
3) Canadian regs change to allow case quantity of Bev purchases - in Q3 2021
Tilray Rally As Georgia Runoffs Signal Democratic SenateMarijuana Stocks Rally As Georgia Runoffs Signal Democratic Senate
Tilray, Inc. surge on hopes Democrats' win in Georgia could spark US legalization
Tilray, Inc. surged on Wednesday following the early results of Georgia’s key Senate runoffs that could open the door to federal cannabis reform.
With Democratic candidate Raphael Warnock claiming victory in his race against incumbent Sen. Kelly Loeffler (R -GA) and Democratic challenger Jon Ossoff winning his race against GOP Sen. David Perdue, Democrats took control of the Senate. That fuels hopes that prior roadblocks, including refusal on the part of Senate Majority Leader Mitch McConnell to bring cannabis reform bills to the chamber, could be removed to move legalization efforts forward on a national level.
the change of Senate control would catalyze constructive changes for the sector.
Democratic control of the Senate, “could help provide better access to capital, alleviate operating headwinds, and help drive industry growth.”
more moderate reform could come first, perhaps in the form of a modified Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, which could allow cannabis companies to access traditional banking and financial services and alleviate burdensome federal taxes.
“To the extent that the industry is presented with an opportunity to lobby for either of these measures, we would expect a consensus to form around the STATES Act over the MORE Act,” she said.
finance.yahoo.com
Key to that growth will be the speed in which states that voted to legalize cannabis set up policy frameworks, and at a federal level, which policy proposals receive the largest attention from legislators.
potential reforms range from mild banking reforms through the SAFE Banking Act, which would allow the industry to tap traditional financing and banking, to more progressive agenda goals like federal decriminalization and criminal expungements through the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. A combination deal could also be pushed through.
With New Jersey legalizing through a ballot initiative this November and New York increasingly looking likely to follow with legalization, according to New York Gov. Andrew Cuomo’s State of the State address.
finance.yahoo.com
ACB about to rocket upACB, another potstock, has a powerful 1-2-i-ii set up. In Elliot Wave terms, that's a rocket. It's an impulse within an impulse, so goes with the sentiment on pot stocks (very bullish). The red wave is the first impulse, with a green wave being the wave 3 of the red wave. Great buy here, with great risk reward. Green fibs target 20 to 23, then a retrace and finally 37 to 56. That would end green, and end the Red wave 3. Red goes on to 100.
SNDL Long next weekIf NASDAQ:SNDL continues trading sideways it will hit the supporting trend-line around next week which will coincide US presidential changeover. Good probability it will bounce off this trend-line and head to the $1 price range and perhaps higher. With cannabis friendly reform on the plate many cannabis companies stocks should do well this year.
ACB: 1 Week Analysis Hints at Strong Upside PotentialHello All.
Aurora Cannabis is starting to catch eyes of many. After a major year in 2017, ACB has had a rough last couple years with the price falling as much as -97%.
The charts are showing the blood is behind us and blue skies ahead for the cannabis industry in the upcoming years.
With the recent election of Joe Biden, the house and senate are now both democrat. They have the ability to easily push through any bill decriminalizing cannabis. With more decriminalizations throughout the USA. This is a positive push for cannabis stocks all around.
More legalizations, more users, more profits for companies like ACB and TLRY. In addition, the supply of cannabis products has been declining the last few years. Higher demand means higher supply is needed. If higher supply is needed, production is going to have to ramp up.
Now on to the technical side.
Just by looking at the last 2 years, we can see by using candlestick analysis, the price action has been curving around forming an obvious bottom.
In the recent months, ACB has came off its lows starting to revive back into its big volume/liquidity zone around $10-$20.
The price action has been forming a bullish pennant since September of 2020. That bullish pennant has broken out and confirmed that breakout (retest) in the recent weeks.
12$ is a big resistance zone for ACB. The price is currently flirting with that level as some positive news was released today. Aurora announced an agreement with Great North Distributors Inc. for Canadian retail sales execution. This creates less resistance for ACB to get their products to their consumers.
Using the Fixed Volume Range Profile tool, we can see that the last BIG volume resistance zone is around the $20 price mark. Once that is cleared ACB share price can see a similar movement as we saw in 2017.
This potential large price increase is due to the lack of volume & liquidity throughout the $22 to $50 price range. This also can be referred as a liquidity void.
Lastly, looking at the relative strength index (RSI), we can conclude a multi year down trend has been cleared and held in the recent months. It is now stretching past the 50 zone which is an easy indication of a bullish or bearish trend.
Thank you all !
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Swing Trade: 🌿Cannabis stock on the heat! TLRY Breakout RunHi fellows, just one of my today swingtrades:
Nice setup for breakout in NASDAQ:TLRY .
Cannabis stocks are set up for nice run after Gorgia senate election.
------------------------Trade setup ---------------------------
Entry: 11,35
Stop Loss: 10.66
Profit target: 13.50
Time stop: 5 days
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Leave a comment that is helpful or encouraging. Let's master the markets together.
MJ to $30 then $60If this doesnt look sexy to you, I dont think we can be friends anymore. You will look extremely happy with a 🚬 under that bright 🌝.
This will be a wild ride with 10-20% swings so as long as you have the balls for crypto, this is a perfect sector for you to be in.
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finance.yahoo.com
New Year's Eve Marks Biggest Cannabis Sales Day of 2020
The Christmas holiday period (12/18-12/24) generated $427 million . Traditionally, the Friday preceding Christmas is the biggest sales day of the period. However, this year the Wednesday before Christmas (12/23) saw the most significant bump in sales with a 76% increase in daily sales. Totaling $87.3 million, the Wednesday before Christmas was the third-largest sales day of the year, only slightly behind Green Wednesday with $87.4 million.
Previously projected to see depressed sales due to an anticipated decrease in group gatherings and parties as the result of COVID-19 restrictions, New Year's Eve exceeded all expectations. The year-end holiday saw approximately $89.4 million in sales, easily surpassing Green Wednesday and becoming the biggest cannabis sales day of the year.
finance.yahoo.com
Cresco Labs PerspectiveUsing pitchfork i will look for cresco to use this line below for support as we head up towards mean reversion (red line)
Usa mj Stocks only go up.
Another Bullish Flag for TNY?TNY appears to be trading in a Macro Bullish Flag, or, potentially a descending triangle.
I have a hard time believing this pattern plays out bearishly due to the 12 co-packing clients yet to be announced to the public market, some of these co-packers will put Tinley on the Map, according to the CEO in an interview in April 2019.
The KST is displaying a bullish cross where I have the blue finger pointing downward.
On the RSI there is a noticeable ascending triangle forming.
WDLF Grossly Undervalued .003MjLink.com, Inc. Announces $5 Million 506(c) Private Placement and $50 Million Reg A Offerings
www.socialnetwork.ai
Giant bullish flag or Descending Triangle for APHA.APHA is trading back into a Macro Bullish Flag or Descending Triangle drawn in dark blue, we have seen a fake-out to the downside where I have the blue human body icon, this is potentially forming an inverted H&S, and at the same time APHA is trading back into the Macro pattern, which started becoming bearish Jan 2018 during the hype before Canadian Rec.
The KST wants to crossover bullishly, but is being rejected for the time being, you need to zoom in close to get a better view.
Potential merit for a Ascending Triangle on the RSI.
CANA.C - $2M mkt cap Cannabis play with US operationCANA.C is too cheap for a pot stock with the US based operations. .04 is major support. Watch for a breakout through .055 - .06 area.
Cronos Group Long Idea / Buy Toronto-based Cronos Group has always played it safe by not aggressively going after acquisitions, instead using cash to focus on research and development with its products. With steady revenue numbers, it has kept its balance sheet strong enough to at least survive the COVID-19 storm.
At the moment, Cronos's business is predominantly in Canada, though its American and Israeli segments are growing quickly. While its Canadian segment hasn't expanded much this year, its total quarterly revenue is growing at a rate of 29.1% year over year, which is a bit faster than Canopy. But this growth doesn't change the profitability problem. That said, Cronos may not need to take dramatic action to reach profitability, thanks to a powerful new ally.
In March of last year, Altria Group agreed to invest $1.8 billion in Cronos in exchange for a 45% share of the company. Altria is one of the world's largest tobacco product manufacturers, and its holdings include everything from major cigarette brands to newly famous e-cigarette and vaporizer companies like JUUL. So it's reasonable to expect that Altria will empower Cronos with its considerable strength in product development, brand-building, and supply chain management. As long as Altria continues to invest in improving its vaporizers, Cronos will benefit, and it will have a long-lasting competitive advantage as a result.
From all this i am expecting the stock to outperform canopy growth in the long term +4years . And seeing the price reaching 100$ or even more by 2030 .
Buy and Hold.
Good Luck
