WEED trade ideas
LONG ACB.TO, CRON.TO, WEED.TO
Looks like a good week ahead for some of the cannabis Stocks. Stochastic breakout, ADX crossovers, SMA crossovers, and previously counter-attack candlestick pattern.
ACB , CRON , WEED
Weed: potential 2 swing trading opportunitiesHello traders,
If you remember my previous analysis for WEED, I mentioned there were two sell zones before the legalization of WEED in Canada, I am hoping that everyone made sizable profit :)
Looking at daily chart, we see that WEED found support around $41.77 and currently hovering around 23.6% fibonacci level. Usually with 46% drop like this, we should see at least 38.2% -61.8% retracement.
Therefore, if I see WEED goes above $50.11, I am looking to short at $55.28 , $59.45 , and $63.62 depending on your swing trade strategy.
However, in case WEED reject %50.11 next support is $33.89 and this will attract a lot of buyer.
Happy trading!
another bear flag possiblyfor reference. If there is hesitation in breakout or near top trendline, could be good short opportunity. A strong breakout might go and test 60$ but momentum still favors downside.
Possible bearish pennant on the 15m.This small correction could end with the stock trending lower. It would set the stage for a lower opening tomorrow.
Canopy - oct 30, 2018i want to see $41 touch but probably wont, reverse would push to $47 then reject or break out. fformaing huge H&s daily
S&P500 Recovery will boost run up to earningsThere will be a run up towards WEED earnings, since it's the largest MJ vendor in Canada. This will be compounded with SPY recovery.
Weed - Sitting on 618 fib level, possible 200 DMA targetWeed - Sitting on 618 fib level, possible 200 DMA target by Earnings date Nov 14th. I think it chops here until earnings, then further down side to 200 DMA. Could form bear flag on daily chart in a few more days.
Weed stocks ina pull backIt looks like Canada Weed in a pull back. Possible pull back due to projected shortages by suppliers. Any weed announcements coming out of the US could break this consolidation. Insights ?
WEED/CGC Still looks strongWEED/CGC suffered some heavy profit taking today but held above the consolidation area. Will watch closely how price acts as it pulls back to my buy zone because
I don't think the party is over yet at least not for this name.
Short WEED It looks like its topping out. Most volume price action happened around $11. People are going to start cashing out not its legal in Canada
WEED - Bearish DivergenceDear Traders,
As we can see WEED managed to make a nice run, but as I said yesterday, better not enter because this is a time bomb. And guess what happened. It dropped, and in my opinion it's not ready to go up for some time.
This bearish divergence happens when we have a new high, but RSI shows us a lower high.
It's time for a big retracement people.
Any thoughts ?
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Biggest WEED Crash Coming We are currently falling from the top of the biggest MJ bubble in history. Given the recent sell-off, my educated prediction is a possible outcome in the next week or so.
