ICNAF - Growing Vol ? New breakout ?Dear Traders,
ICNA had a new run and retraced a little bit before finding support at the 55 ema (which was expected).
I traced a red support line and a green resistance line which will help us figure out when a breakout upwards or downwards will occur.
Right now our price as bounced off the 55 ema, with a volume that is building up, this could mean we will see a rise in the price this Monday.
If the bulls buy the resistance at the 0.386 fib level we might get another run which will, in my opinion, create a lower high. The 0.5 fib level might stop our run, but with enough momentum and vol we could break through it. Let's see what happens on Monday.
Latest news: globenewswire.com
''Integrated Cannabis is pleased to announce the successful completion and positive results of a controlled trial of its proprietary Sleep product.''
Weed
CGC WEED bulls regain the daily uptrendHappy Thanksgiving! Just a quick update, only one ticker tonight.
CGC bulls regained the daily uptrend today with a bull break over 50.21. Ew now have a daily higher low and higher high shifting the momentum back to the bulls just one week out from legalization. The RSI is breaking out of it's descending wedge of resistance and following through on the hidden bullish divergence I've been pointing out for the past week.
The next resistance is 51.21. Key hourly support is is 48.10.
Because CGC had a 6% day today and WEED didn't trade, I expect we'll see a gap up and profit taking first thing as there is information from today on the American ticker that doesn't exist on the Canadian ticker because the TSX was closed. I will be watching for a gap up open and profit taking on names that had a big bull day today (CGC, ACB, etc) and will be watching for bulls to buy that dip when the selling pressure subsides.
Looks like our 7 weeks of bull run might have a bit of steam left after all!
MARIMED - Technical AnalysisDear Traders,
This stock got me exciting 2 days ago, and to see it run as it did is just great. I do think its time for a small retracement but overall feeling is bullish.
CGC looking for a break mid next weekCGC saw another day of consolidation on very low volume, with the low of day holding the lower trendline of the pennant as support. It's clear to me we have another little daily equilibrium forming with the bulls looking to form a higher low relative to 44.90 to form a base of support and run up to break 50.21 and shift the daily trend back in favour of the bulls.
On the 4hr chart we can see more details of our equilibrium pattern. The bulls are trying to bounce from 46.42 as our new base of support but we aren't fully confident yet of that as our new higher low.
Key range to watch right now is 44.90 - 50.21. Keep an eye on the 4hr chart to watch this range tighten as it gives the most clarity on the short term action. This pullback is more than the bulls would have hoped for, so we are more likely than now to set a lower high and continue this tightening pattern. The RSI and MACD are both showing hidden bullish divergence on the daily chart but that will be negated if we head down to lower lows.
Be aware there is market correlation between the mj sector with the S&P500, and keep in mind that it lost the weekly uptrend today. It's often said that high tides raise all boats; likewise, low tides can beach all ships.
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.
WEED the most likely to negate daily bear flagWEED on the daily timeframe left a bearish dark cloud candle and a possible bear flag pattern. Increasing bear volume is a concern for the bulls.
We are still within our larger daily pennant but that pattern will break bearish if we lose 57.60. The hidden bullish divergence on the daily chart will be less likely to play out with the loss of this level as well.
Key daily range: 57.60 - 66.23
Zooming into the 4hr we see a bit of a more hopeful picture with a tightening equilibrium. Bulls have seen enough of a bounce that we can anticipate them holding 57.60 support forming a higher low, and the extend of the pullback will determine the likelihood of breaking 64.63 resistance or forming a lower high relative to that level.
Be aware there is market correlation between the mj sector with the S&P500, and keep in mind that SPY lost the daily uptrend today. It's often said that high tides raise all boats; likewise, low tides can beach all ships.
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.
CGC 4hr equilibrium attempting to negate daily bear flagCGC on the daily timeframe left a bearish dark cloud candle and a possible bear flag pattern. Increasing bear volume is a concern for the bulls.
We are still within our larger daily pennant but that pattern will break bearish if we lose 44.90. The hidden bullish divergence on the daily chart will be less likely to play out with the loss of this level as well.
Key daily range: 44.90 - 51.21
Zooming into the 4hr we see a bit of a more hopeful picture with a tightening equilibrium. Bulls have seen enough of a bounce that we can ancitipate them holding 44.90 support forming a higher low, and the extend of the pullback will determine the likelihood of breaking 50.35 resistance or forming a lower high relative to that level.
Be aware there is market correlation between the mj sector with the S&P500, and keep in mind that SPY lost the daily uptrend today. It's often said that high tides raise all boats; likewise, low tides can beach all ships.
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.
TRULIEVE - Technical AnalysisDear Traders,
We don't have enough data to predict what so ever, for now, the only thing we can do is draw the lines and see how this will evolve over time.
There is a lot of hype around this stock so anything could happen.
About Trulieve Cannabis Corp (TCNNF) :
Trulieve Cannabis Corp. operates as a holding company. The Company, through its subsidiaries, engages in the cultivation, possession, sale, and distribution of medical cannabis. Trulieve Cannabis offers its services in the United States and Canada.
TILRAY - Technical AnalysisDear Traders,
We can see that TLRY has broken out but without big volume (which I expect, to be honest).
I think most Traders/Bots are waiting for the MACD to cross upwards signal before creating another run-up.
Let's see how this plays out.
If you enter, don't forget your stop loss.
About TILRAY:
Tilray, Inc. engages in the research, cultivation, production, and distribution of medical cannabis and cannabinoids. Its products include dried cannabis and cannabis extracts. The company was founded on January 24, 2018 and is headquartered in Nanaimo, Canada.
Latest news:
www.fool.com
WEED daily showing hidden bullish divergenceJust an update to my WEED idea from earlier this evening, all of which still applies.
A friend of mine has pointed out that WEED is forming some hidden bullish divergence on the daily chart . Our RSI and MACD oscillators are hitting lower lows, while the price hits higher lows. We still need an hourly higher low, so if the chart can break the daily MA20 and the RSI resistance line, we can start looking up to the upper limits of the downtrend line.
WEED bulls take a standI'll readily admit today took me completely by surprise. I studied numerous charts last night and came to one conclusion - the sector would not have a bounce today because WEED's 4hr RSI was not low enough; it was only 32, when generally bounces happen from 27 or lower. WEED opened the day with multiple rejections from the high of CGC premarket, then saw a bear break to a V-shape recovery. This wasn't the bounce setup I wanted, it wasn't the price action I expected, so I sat out.
I missed the entire 8% move and I'll sit that out every single time when I'm not comfortable with the setup.
Three things today are worth noting
WEED bulls didn't roll over after the most significant bear break since June;
We bounced 10% from the low of yesterday to high of today, from RSI levels on the 4hr chart that are not historic bounce levels; and
We finished at the high of the day with a big bullish candle
The volume is a little lower than I would have liked to see, but we are expecting to set a lower high on the daily; Anything under 66.19 will be that lower high. Our new must hold level is 57.60 and that is the range I'll be watching.
The bulls were in full control all day and set no hourly supports; the chart is very extended. We've bounced enough that we would anticipate a higher low above 57.60, and the bulls will then have to break hourly resistance to see continuation of the oversold bounce.
I've been of the opinion we won't get a bull run into Oct 17th because we've been running already for 6 weeks. I've been watching the sector for two weeks waiting for bulls to show up and buy, warning we'd see profit taking and a bear break, which we saw yesterday, but I'm starting to look at the sector a little bit more bullish after today because I'm picking up on clues of some underlying bull strength. I'm not saying we will run into Oct 17th, but I was ready to rule it out last night and today I'm not so sure anymore.
It's all about 57.60 - 66.19 right now, and I expect we will top out soon before needing a healthy pullback on the hourly chart in order to see continuation.
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.
Kalytera - Technical AnalysisDear Traders,
As we can see KALY is retracing, the idea is to find our next entry point.
Have a look at the green circle, that 50 fib level might be our point of interest.
About Kalytera Therapeutics
Kalytera Therapeutics, Inc. ("Kalytera") is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on graft versus host disease (“GVHD”) .
Kalytera also intends to develop a new class of proprietary cannabidiol ("CBD") therapeutics. CBD is a versatile compound that has shown activity against a number of pharmacological targets. However, there are limitations associated with natural CBD, including its poor oral bioavailability. Kalytera will seek to develop innovative CBD formulations and prodrugs in an effort to overcome these limitations, and to target specific disease sites within the body. Kalytera intends to file composition of matter and method of use patents covering its novel inventions, with the goal of limiting future competition.
Website Home: kalytera.co
News and Insights: kalytera.co
Investors: kalytera.co
TGOD - Technical Analysis - Reversal Point reached ?Here is my TA for TGOD, did it reach a reversal point ?
As you can see we are still in a bearisch channel but as soon as the bulls manage to breakout, we will have a bullish mood again with more volume.
17 october (Legalisation of marijuana in Canada) is getting closer, I can't wait to see what will happen.
What are you're thougts ?
ABBVIE - Technical AnalysisDear Traders,
ABBVIE looks to be on the edge for a breakout, the MACD shows a Bullish Hidden Divergence which backs-up my LONG position.
Any thoughts ?
About Abbvie:
AbbVie, Inc. is a research-based biopharmaceutical company, which engages in the discovery, development, manufacture and sale of a line of proprietary pharmaceutical products. It is focused on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C and human immunodeficiency virus; neurological disorders, such as Parkinson's disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis; as well as other serious health conditions. The company was founded on January 1, 2013 and is headquartered in North Chicago, IL.
GWPH - Technical AnalysisDear Traders,
GWPH, also known as GGW Pharmaceuticals plc (GWPH), has been following its bullish Channel pretty well. Thos I don't really know if im Bullish or Berish for now. We have good volume, we are in a bullish channel, but we are under the 1H 55 ema (Blue line). If resistance at the 55 ema holds, we will see a bit more retracing, but if we succeed in buying that resistance, i'll be 100% bullish.
About GWPH :
GW Pharmaceuticals plc researches and develops cannabinoid prescription medicines for the treatment of cancer pain, Multiple Sclerosis, and neuropathic pain.
Latest News:
finance.yahoo.com
Crypto is too boring... WEED!Hello traders,
I will be switching gear a little bit as cryptocurrency trading is becoming a little bit of boring. Don't get me wrong, I simply stopped trading and I intended to go back again when I see the opportunity.
Looking at the 4 hour chart, we see that WEED is forming a daily equilibrium since September and it is hitting the buy zone which roughly overlaps with 50% fibonacci level. There was a huge buying volume in 5 mins before the day closed which indicate potential trend reversal.
There should be another wave of hype before legalization in Canada, therefore I will set two selling orders.
First one will be around $68-69 where I expect some blue trendline resistance. I will sell 50% of my share at this point.
Second one will be around $74-$75, as there may be a fake bull breakout before Oct 20th. Most likely it will be pumped and dumped so I will see all my shares around that range.
Stop loss: $56
Happy trading!
GTEC - Technical AnalysisDear Traders,
As we can clearly see, GTEC's price is in a bullish channel. With a Hidden DIvergence in the MACD, it could be possible we will soon see a run-up.
This Hypothosys would be cancelled if we break downwards from the channel.
Last News:
Update on Status of Sales License and Other Operational Updates:
GTEC Provides Update on Status of Sales License and Other Operational Updates
GTEC Holdings Ltd. (GTEC.V) (GGTTF) (“GTEC” or the “Company“) is pleased to provide an update on the operations of its wholly owned subsidiaries.
Alberta Craft Cannabis Inc. (“ACC”) is a Licensed Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations located in Edmonton , Alberta. ACC operates a 14,000 sq. ft. craft cannabis cultivation facility. ACC has currently completed its initial harvests and has notified Health Canada. The Company is now awaiting Sales License inspection to be completed within the expected timeline.
F-20 Joint Venture (“F-20”) is a GTEC agreement with F-20 Developments Corp. to develop a premium indoor cultivation facility in Vernon, British Columbia . GTEC’s operations team has completed the final design of Phase 1 construction plans. The building will be retrofitted to facilitate the cultivation of premium cannabis. Phase 1 of this partnership is currently underway, with completion anticipated for Q2 2019. GTEC expects to complete Phase 2 designs by Q1 of 2019.
Tumbleweed Farms Corp. (“Tumbleweed”) is a late stage ACMPR applicant based in Chase, British Columbia . Tumbleweed has completed its purpose-built exterior and is near completion of the interior construction. The Company anticipates that it will commence cultivation over the duration of the fall season. Tumbleweed has also signed a contract with the Pacific Agricultural Certification Society (“PACS”) with an objective to be one of the first certified organic cannabis companies in Canada .
GreenTec Bio-Pharmaceuticals Inc. (“GreenTec”) is a late stage ACMPR applicant based in Kelowna, British Columbia . GreenTec is currently in Phase 1 of development, building 20,000 sq. ft. of its planned 80,000 sq. ft. craft cannabis cultivation facility. GreenTec has recently completed the exterior of this building and anticipates completing the interior construction and commencing cultivation in Q1 2019.
Grey Bruce Farms Inc. (“Grey Bruce”) is a late stage ACMPR applicant based in Kincardine, Ontario . Grey Bruce is currently building a 15,000 sq. ft. craft cannabis cultivation facility. The Company has made substantial progress in completing a major retrofit of its existing industrial building and anticipates that it will commence cultivation in Q4 2018.
Falcon Ridge Naturals (“Falcon Ridge”) is a late stage ACMPR applicant located on a certified organic farm in Kelowna, British Columbia . Falcon Ridge was seeking to construct a 10,000 sq. ft. facility. On October 1st , Kelowna City Council voted against the Falcon Ridge project application, due to recently adopted land zoning issues related to the proposed facility being within the B.C. Agricultural Land Reserve. Accordingly, GTEC does not anticipate moving forward with this project, and plans to re-allocate Falcon Ridge capital funds to its larger facilities and/or for existing expansion opportunities.
Spectre Labs Inc. (“Spectre”) is a cannabis oil extraction facility based in Kelowna , British Columbia. Spectre has acquired land and building to develop a state-of-the-art facility. The Company has completed initial design work and submitted an application to the Office of Controlled Substances for a Dealer’s License. The site will be developed in a phased approach and will serve as a Good Manufacturing Practices (“GMP”) grade facility with extraction, formulation, compounding and export capabilities to support GTEC’s Licensed Producers and the global medical market. GTEC also intends to utilize Spectre to manufacture edible products that are expected to be incorporated into Health Canada’s regulatory framework in 2019. GTEC was notified on July 17 th by the Office of Controlled Substances, that Spectre has been assigned an application number. From the time of receipt of a complete application, the Controlled Drugs Section commits to a service delivery standard of 180 business days for the issuance of a decision on an application for a new Dealer’s Licence for controlled substances.
Canopy Rivers Inc - Technical AnalysisDear traders,
Here is my TA for Canopy Rivers Inc,
We find ourselves in a downtrend channel from which we need to brake out in order to change the mood.
With the MACD Continuing Divergence, which is a Bullish sign, we now need to see higher lows and lower lows in order to breakout from this channel.
What is you're opinion on this stock ?
Integrated Cannabis Company - Technical AnalysisDear traders,
Last week Integrated Cannabis Company announced the completion of a Letter Agreement to collaborate on X-SPRAYSTM products for the Canadian market with a Canadian License Producer under Health Canada's Access to Cannabis for Medical Purposes Regulations, GTEC Holdings Ltd. Friday the company's stock saw its most active day since going public and during pre-market trading on Monday (10/1/2018), shares of Integrated Cannabis have traded as high as $1.16.
"Partnering with a Canadian Licensed Producer has been a major goal of ours in order to facilitate the expansion of our product line into legal, established marketplaces. The GTEC team is an ideal partner given their status asa LP and their tenure in the cannabis industry and provide a great alliance for our innovative product line," said Mr. John Knapp, CEO of Integrated Cannabis.
Integrated Cannabis Company (ICNAF) (ICAN) has seen its most active trading week in history of being public (so far). Shares opened the week at $1.1665 and hit highs on Tuesday of $1.43.
What are you thoughts about this TA ?
Aurora - Technical AnalysisDear Traders,
Looks like we enterred a second ''bearish'' tunnel, but if we succeed in breaking out of it like we did the first time we might see another run soon. But if we break downwards we will officially retracing towards the 0.5 fib level again, which held twice already so that looks like a good entry point for those who want to re-enter this trade, but this will only happen if we break downwards of this channel.
About Aurora:
Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, home cultivation, wholesale and retail distribution. The Company's purpose-built facilities, which integrate technologies across all processes, are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year, as well as sales and operations in more than 18 countries worldwide.
WEED bears assert dominance, finally breaking the daily uptrendWEED broke the daily equilibrium bearish today and closed down 6.5%. A small bounce at the end of the day cooled off RSI levels and we're no longer oversold on any timeframe. I was looking forward to an oversold bounce tomorrow but after hours trading further cooled off RSI and finished trading in a bear flag setup.
Two daily supports were broken today, after low of today our next support is 52.80 - that's a good 10% further to the downside. I'm personally going to be patient waiting for a setup I like. If we get a big gap down tomorrow, for example, opening below $55.00, that's a setup that will have me interested. Otherwise, RSI levels have cooled down enough at the end of day bounce that we could easily see another -6% day tomorrow.
I've been talking a lot in my past ideas about the psychology of what's going on right now in the sector. To further drive home how sentiment has shifted from bulls to bears, note that it's been a full three weeks since we've had two green days in a row - and this is when everybody has been expecting a huge bull run into October 17th. I'm not going to be entering positions based on what I want to happen, I'm going to watch the charts for a setup that favours a bull entry.
CGC bears assert dominance, finally breaking the daily uptrendCGC broke the daily equilibrium bearish today and closed down 6.5%. a small bounce at the end of the day cooled off RSI levels and we're no longer oversold on any timeframe. I was looking forward to an oversold bounce tomorrow but after hours trading further cooled off RSI and finished trading in a bear flag setup.
Two daily supports were broken today, after low of today our next support is 40.68 - that's a good 10% further to the downside. I'm personally going to be patient waiting for a setup I like. If we get a big gap down tomorrow, for example, opening below $42.00, that's a setup that will have me interested. Otherwise, RSI levels have cooled enough that we could easily see another -6% day tomorrow.
I've been talking a lot in my past ideas about the psychology of what's going on right now in the sector. To further drive home how sentiment has shifted from bulls to bears, note that it's been a full three weeks since we've had two green days in a row - and this is when everybody has been expecting a huge bull run into October 17th. I'm not going to be entering positions based on what I want to happen, I'm going to watch the charts for a setup that favours a bull entry.
