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Weed

Bullish butterfly pattern nn PNTV chart with target zonesAfter pointing out the pattern on twitter, I was asked where I see it going. I wasn't able to find much online as far as common targets for the butterfly pattern, other than points A and C. I used a common technique often used with other harmonic patterns to map out other significant resistance zones(drew a fib extension from point X to A, back down to X, then moved the bottom of it to point D). The XA leg added on top of point D is a common target for most harmonic patterns I've researched so far. Beyond that, the 1.27-1.68, 2.27-2.68, and so on are also common targets if bullish momentum continues. It just so happens that the 4.27 matches up perfectly with a very long-term trend line...
PLong
by tomtourettes
A little hip on the dip Legalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares. Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of shares doubled in value. It went from $0.68 to 1. 30 in 2 weeks of time. This is more like short term holding situation and it can continue to drop a little bit more. A few big buyers at the mark of $0.70 but a lot more big sellers around the range of $0.71-0.73. HIP.
HShort
by secondroundko
A little hip as it dipsLegalization is near by as the vote for the bill to pass will be held on June 7th, 2018 and legalization to happen in sometime August 2018. HIP prices dip on the news of their recent dilution of shares to raise more money . Its currently sitting at an oversold situation on the yearly chart and 6 months chart. Last time it reached an oversold situation the price of shares doubled in value. It went from $0.68 to 1. 30 in 2 weeks of time. This is more like short term holding situation and it can continue to drop a little bit more. A few big buyers at the mark of $0.70 but a lot more big sellers around the range of $0.71-0.73. HIP.VN
HShort
by secondroundko
Constellation Brands - $STZ - Dip on hot growing stock! I'll be looking for confirmation of continuation of $STZ 's bullish growth before buying in, but this one's on my radar. Ex-dividend date of 5/10 likely didn't help push it much higher in the past few days. There is a catalyst in the works though -- not only are earnings to be reported on 6/30/18 but they are invested in Canopy Growth (Canadian cannabis grower) whose stock is to be listed on the NYSE in the near future. From what I found they have a 10% stake in Canopy Growth. Either way, I look forward to the run-up towards earnings. I'm going to wait to exit some other positions then go ahead and pick some calls, likely for 6/29 or so.
NYSE:STZLong
by wounsel
WEED daily needs some volumeWEED daily chart looking like a bull flag right at downtrend resistance. Holding the daily mbb and hourly higher low today were great signs for the bulls. RSI favors bulls and MACD starting to poke through resistance. Game plan: break 30.70 with higher than average volume will put me in a starter position, with the rest being added on the break of 31.46. Position size will be appropriate to a stop loss under the daily higher lows - or a portion of profit taken on a first push up to give wiggle room to my position size and stop.
TSX:WEED
by DZ3572
WEED hourly needs a higher lowWatching 3 areas as possible support for an hourly higher low for WEED, first is a back test of the daily downtrend line, approximately 29.38 - this would also have an oversold 5 min RSI. Second would be that we hold that 29.55 area, see an equilibrium form on the 15 min and have a solid break to play. Third would be a bottom fish off the low of yesterday at 29.76 which would be very oversold on the 15 min should we drop down there fast. If we lose 29.76, then patience would have me wait for previous resistances of 27.83 and 27.50 to act as support before 27 because of the lack of support established in that range. Bulls would love to continue to consolidate above the daily MBB and break the daily downtrend with a clear break of 31.46.
TSX:WEED
by DZ3572
1
Will WEED break the triangle?Since the last update WEED has been correcting within the triangle that I had defined, slowly making its way down and bouncing really hard off the upward trend line, taking it to the top of the triangle and closing on the 61.8% Fibonacci retrace. There is some resistance at this point as it will try to break its way out of the triangle for confirmation of a bullish signal if we can close somewhere around 30.50. We are not overbought on the 4H RSI and are now using the EMA20 as support and keep in mind that the EMA50 is about the cross over the EMA20 which is also a bullish signal, so hopefully we can close above the triangle and head towards new resistance at around 31 and then 32. Thanks for viewing my charts!
TSX:WEED
by BTCanadian
WEED hourly trade plan 2 scenariosBull scenario - we break 27.50 and 27.83 for hourly higher highs - in which case I would be targeting previous support of 29.55 which lines up amazingly with that downtrend resistance line - likely to scale out partial profits sooner since that's an ambitious target percentage wise. Bear scenario - 27 dollars breaks down and I start to watch for an oversold bounce in the low 26's or even 25's depending on the time and RSI levels when it gets there - if it is a deep flush and 5 and 15 get oversold quickly and take the hourly down, I will start scaling in a bit faster, if it's a slow grind down like we have been experiencing - I will stay much more patient. Initial target for the bounce would then be 27 previous support now strong resistance.
TSX:WEED
by DZ3572