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Weed

WEED - letting the dust settleWatching the WEED.TO range from low of Friday to high of today. Today's low bounced right off the golden pocket of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that holds. I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow. I find the most clarity here on the 4hr and daily charts. The bear volume today was significant We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
TSX:WEED
by McGuireTO
Oversold Due To China News, and Being Driven By TradersLove the stats and the story. Short term swing. It is being driven by speculators because it's a low float China stock. Went up too much in a short period of time, hence the big sell off. Also, this China tariff news probably spooked traders. Net income is down 2 million, but general administrative expenses increased by a factor of 10. Plus, they are exploring the blockchain sector. Like where it is on the fib also. Volume has also decreased relative to yesterday's sell off Only buying 1/2 because it is on the way down. Holding other 1/2 in case it goes lower so I can either bump out or get a better average.
CLong
by alipipefitter
2
WEED Going DownBroke through previous upward channel, found support on the 0.5 fib, but failed to make a higher high. Bearish divergence on the RSI and Stoch is looking to form a bearish cross. Reversal indicated via heikin ashi as well. Rapid dump indicates this is not a simple bull flag. Volume has also been decreasing during the rebound off the last dip. Expect a retrace to at least the 0.5 fib. Likely will find support around the 100 Day SMA as it has done previously. My opinion not financial advice
TSX:WEEDShort
by green_brow
About to get stoned...Shares of TLRY, and many other pot stocks for that matter, have been on fire lately. While I've made good money along the ride, its just getting ridiculous at this point. This company went public exactly 2 months ago today.. the IPO price was $17. In 8 weeks time, it's up over 1300%! That's incredible for those that got in early, but its a clear sign of ignorance to be chasing it up here now. If you aren't taking at least some profits, you're either greedy or mentally ill. While I think there's a lot of growth potential in the weed space, as evidenced by companies like STZ and KO getting invested, people need to be patient and let the prices come back down to earth. I'm actually shorting this thing via long put options (the options are pricey, too!). Specifically, I bought Sept. 28 $55's in one account, and longer dated October $120's in another. Yes, it's ballsy move, but this blowout volume today may be a capitulation point. Take a step back and smoke a blunt or 6 while you wait for this thing's buzz to wear off! And please don't be an idiot and chase this thing up here!
NASDAQ:TLRYShort
by EchoAlphaBravo
CGC needs to catch up to TLRY- Remount and Trendline break todayCGC has remounted its 9ema. It has been trailing TLRY for the last week. Today we have broken a key trendline in CGC along with remounting its 9ema. Remounts are powerful! Weed is still in play. The key is going to be if today is an exhaustion gap in TLRY and it fades off on the news that was expected or the party continues! The key is if it holds here. We are due for a sharp pullback in these stocks at some point soon. Risk management is key you dont want to risk much on these type of trades.
CLong
by kunal00
1
Will Coca-Cola be the next big player in the Cannabis Market?Aurora ACB:CN is a Canadian Cannabis stock that is up 15% today on news it’s in talks with Coca-Cola, about starting a partnership in the weed game. Imagine going to the corner store or wherever beer, wine & liquor are sold and seeing Cannabis infused drinks beside your Bud Light or Corona. I’ve been asked by many of my subscribers to publish my picks, in real time. Unlike most pundits, analysts and personalities, I will be doing so in an open and transparent way, so that I show my process, win or lose. One thing for sure is that Coca-cola does it BIG, so any deal for Aurora will be huge and have immediate impact on the companies earnings. MOST CANNABIS STOCKS ARE OVER VALUED AND OVER HYPED. THIS IS A RISKY TRADE. PLEASE CONSIDER RISK OF LOSS BEFORE CONSIDERING TO PURCHASE THIS STOCK WITH ME. PLEASE ALSO RISK ONLY WHAT YOU CAN AFFORD TO LOSE. At the time of this writing, Aurora is trading at $9.86. I have purchasing 2000 shares on the open market. Here are my trade parameters, for your consideration. MY BUY PRICE: $9.73 BUY RANGE: $8.00 - $10.50 1ST TARGET: $24.50 - $15.90 2ND TARGET: $28.00 - $32.75 (if a deal actually gets done) STOP LOSS: $7.20 - $7.60 Notice: Stocks like this can move very quickly, so experienced traders may want to use a mental stop zone, so they are not whip sawed out of a trade. Inexperienced traders may choose to put a simple limit at $7.50 and not re-enter the trade if stopped out. If the rumors fall apart, I will be exiting the trade at those prices. While Aurora has not gone hyperbolic like other stocks in the sector such as Tilray (TLRY:US) and Canopy (WEED:CN, CGC:US), it is important to note it should not be worth more than $3, even with a generous fundamental valuation. This sector is on fire and completely controlled by momentum traders and speculators.
TSX:ACBLong
by LIfestyleConnect
GLDFF Golden Leaf HLDGS LTD, Massive Gains! MMJ Rush?keeping it simple. It seems to have bounced higher then the previous low and has been squeezing long on the WEEKLY. This is bullish in the MMJ market at the moment, and has been over looked due to the mainstream stocks. They have a positive revenue report. I dont see any sell signals currently, just a small pull back to retest the higher levels, with possible breakout. This is a long hold for me, as Ive played the regular MMJ stocks already and some are just too far up as it is. Momentum is also bullish. Happy trading, debating and speculating! FOLLOW FOR UPDATES, and check out my other crazy accurate charts, including the only Tilray chart before it blew up 400%.
GLong
by ToddGreen