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Weed

Still in the triangle, rejected at the 50MA.As we successfully came back into the triangle, but got rejected below the downward trend line, respecting the 50 day moving average as resistance. It has now re-traced back to the 61.8% Fibonacci line, where it sits with indecision as I write this. There is some light support that is now holding us, but it won't take much volume in the wrong direction to see a re-test of the 200 day moving average, where it we can see some more serious support. Thanks for viewing my charts!
TSX:WEED
by BTCanadian
Shitstocks. Missed crypto. Let's be early investors in weed.A new emerging market that went from being illegal and done by gangsters and is starting to be industrialized. It's only at its early stage, and MJ is being accepted more and more in the world. Companies selling this stuff are planning on having ten times more clients next year. It's a pretty controversal area it's risky, but the potential is great. Not that interested in going long term (yet), but if we keep going down alot, something similar similar to when BTC went from 30 to 2$ a while ago, if I have the money I'll put it in a few companies. Problem is there's several of them and who knows which one is good? If there's a nice oversold bounce it will be able to get in for free! (Buy the dip sell enough on the bounce to get initial investmen out, leave profit in) Canopi plans to have it's customer base grow tenfold, they're the #1 company, so they seem safe enough, for now. Anyway, there's time for this (probably) no need to hurry. +++ I have no idea what I'm doing +++
AMEX:MJLong
by MrRenev
3
WEED bounced off upward trend line, can it hold 200MA?After the correction and a trace all the way down to 25.34, we can see that it closed twice right on the current upward trend line and bounced. It is currently holding above, in the support and resistance channels that I have drawn on the 4H. Conviction does not look very high however, as it was looking to come back down again, but it got rejected just above the trend line. Hopefully we can close and keep it above the 200 day moving average, but a retest of the upward trend line or new support is definitely possible. Thanks for viewing my charts!
TSX:WEED
by BTCanadian
2
WEED holds support at the MA50? So much sideways chop!There is a a lot of choppy sideways movement going on with WEED right now that I wasn't expecting and it invalidated the temp upward trend that looked promising.. I was really hoping that we could confirm three points, but we are now looking to hold support around the 50 day moving averages. We are still way above the 200 day moving average. We can see that it keeps getting reject at the support zone at 31.40 quite nicely, looking like we will close with green candle above support, between the current channel. Thanks for viewing my charts!
TSX:WEED
by BTCanadian
WEED confirms 3rd point on temp uptrend.As we can see, WEED keeps tapping that new upward trend line quite nicely, leaving us with a third point of confirmation on our temporary upward trend line, indicated by dotted green. This however, brings us closer to a possible ascending wedge forming. After making a significant rally today, you can see that we touched the previously drawn resistance at 33.90, pulled back and now holding as I write this. So far we have been able to keep above our EMA200 very nicely, so will most likely close on the resistance line, let's see if we can turn it into support folks! Thanks for viewing my charts!
TSX:WEED
by BTCanadian
Support for WEED moving up.As we can see, TSX:WEED buyer volume opened strong and we have been able to turn the previous resistance line into support, after closing 5 times above the previous line on the 4H chart. That double re-test right before this jump into the next Fibonacci zone, created some seriously heavy support and falling below that any time soon will be unlikely unless something drastic happens. We did see a bit of a dip after breaking resistance, which is usual, but right now we are just consolidating along the 61.8% retrace and holding support nicely. If we don't re-test 32.50, let's see if we can work our way up to ~34.33.
TSX:WEED
by BTCanadian
Today WEED closed at +4.20%. Not only is that hilarious, but it is a step in the right direction for sure. We tried to smoke our way past resistance, but it looks as though we couldn't quite do it, stumbling back down into the support channel. Confirmation above the MACD's on Monday will allow is to move the support up to 31.40 and possibly 31.85 if it opens bullish. That huge red shadow on the closing candle is something that we should look out for and may lead to a re-test of ~31.05, but there is some very good support as we have confirmed twice strong at that line, as you can see by my beautiful chicken scratch black circles. Hopefully it took everything the bears had to keep us blow that resistance level, and we can start to increase our positions.
TSX:WEED
by BTCanadian
4
Cannopy Growth Stock Will Increase AT ANYTIME3 months ago, the stock increased tremendously. On the other hand, we cannot worry because the price for the stock when down. Remember, the legalization in Canada is on June and the company already created some partnerships with other companies in order to have more fields. Then, the profits will increase massively! Therefore, in order to make profit with this stock, you have to wait at least 3 months. Be patient because on June and July, the stock will blow up.
TShort
by WalterKing617
VFF Healthy consolidation. No matter how fundamentally strong VFF Is and how solid their execution is , the overall volatility and psychology of the cannabis markets will effect share price. Personally I believe VFF to be very well positioned, in a strong position financially and their operational plans are on track for 2018 and 2019. Short term VFF is in for a tough battle up, overall bulls seem to be exhausted and the bears have been exerting some serious selling pressure both on VFF as an individual stock and the Canadian cannabis market as a whole. From a technical analysis standpoint VFF has immense potential to retrace back to previous highs and maintain them, this would require the bulls to pick up steam. I'm looking for industry wide catalysts and also VFF specific catalysts to move this stock. My time frame for the retracement back to $8.50+ is 2 months
VLong
by navpowarr
Time to WEED out the bears.So as we can see, there was a nice positive consolidation between the current support and resistance channel, with quite strong buyer volume all day long. This has formed somewhat of a bull flag. There is a good possibility that we will re-test resistance again, however, this is somewhat necessary to confirm the third point for a new possible upward trend line. There was zero green shadow on the closing candle, with high green volume. Tomorrow will probably push above resistance, but as I said, may not close above. If it closes into the 78.6% retrace, we will be inherently safe at 31.00. Thanks for viewing my charts!
TSX:WEED
by BTCanadian