Investing

Cannabis (Marijuana) Stocks

  • Last Updated:
  • Oct 21st, 2019 2:14 pm
Deal Fanatic
Apr 25, 2006
5412 posts
680 upvotes
momack wrote:
Nov 13th, 2018 7:59 am
But ACB seemed pretty and everything went down. so wtf. lol

where is big tobacco, pharma, booze when you need them...[/quote

As someone mentioned TGod investment saved them.
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
Deal Addict
Nov 14, 2006
1729 posts
737 upvotes
GTA


Cliffs copy/paste

General Info

It was a rough day for everyone. SPY was tanking, the entire tech sector dumped over 3%, but the Canadian MJ bulls should be mostly pleased how they held up in light of that. (I can hear the scoffing from APHA/OGI holders over that remark from here!)
Don't expect MJ earnings reports to affect company share prices much at all, with the exception of CGC because it's the sector leader.
When you make your MJ trades try to line them up with SPY and CGC going in the same direction (ideally both up). Try not to go against the wind here.

3 things to consider on MJ stocks at the moment:
How big is the lower wick today? Were bulls buying the dip?
How much space do we have before the lower of the dump from October?
How much have pulled back from the high of the bounce from the October dump recovery?
HEXO is one of the stronger names, and TRST is one of the weaker names according to these criteria. Compare your individual names with the sector leaders to gain insight into how the smaller names may behave.
Everyone should buy a hot springs hot tub.

CGC
Declining volume on the daily. Consolidation and declining bear volume seen, which is a great sign for the bulls. Still looking for that daily higher low to form though.
New key hourly resistance of $40.55 because we rejected off the $40.70 resistance today, and then we broke the low of Friday, so bears are clearly still in control. Support at $34.35.
First thing tomorrow morning CGC needs to break $40.55 hourly if bulls want to regain control, and the daily resistance will then be $46.84, but it seems we have a tightening equilibrium playing out.
15 min time-frame showing plenty of bull breaks, unlike APHA. Actually saw a little inverse head and shoulders pattern.

ACB
The volume seen today on ACB indicates that no one cared about their earnings, and the price action shows no gaps or anything indicative of typical earnings recognition.
Hourly resistance of $10.15, support of $8.76. Lower high seen at $9.53, and we're looking for a higher low.
Looking for a daily higher low.

APHA
Daily chart showing it's one of the weaker names despite being stronger on Friday. The MJ stocks don't detach from CGC correlation for very long (<4 days), and they'll quickly return to the equilibrium previously established, which is what happened here today with APHA.
No sign of an hourly trend change. 15 min time-frame is showing all lower highs.
Watch support of $14.83, as breaking that maintains bear control.
However, given APHA's fast fall and lagging movement relative to CGC, there's a chance we may see it spike more than usual tomorrow to "play catch-up" to CGC's movement. Take this with a grain of salt.

CRON
Daily showing more in line with CGC.
No support established on the daily from $6.50 to $9.95 resistance, and we're trying to find that higher low now.
Need to break $8.68, then $8.84 tomorrow to see the higher low set, and a potential bull move.

TLRY
Holding up well because we didn't break the low of Friday, whereas everyone else did.
Seeing daily inside bar as we approach earnings, which again may not mean much.
Daily key support at $105.55, bull break at resistance $116.44.
Hourly showing a really tight equilibrium, so check out the 15 min for clarification.
15 min time-frame showing a double top around $116.44, and a key support of $112.17.
We're looking for a daily higher low to form compared to $142.84
Deal Fanatic
Apr 25, 2006
5412 posts
680 upvotes
yuppers, why not? MJ is over valued. Again, we need HYPE and we have none.
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
Deal Addict
Nov 14, 2006
1729 posts
737 upvotes
GTA
JRGUINNESS wrote:
Nov 13th, 2018 9:06 am
Sooooooo....

Another red day?
1xTiMeR wrote:
Nov 13th, 2018 9:10 am
yuppers, why not? MJ is over valued. Again, we need HYPE and we have none.
Keep eye on SPY and CGC , they will usually tell sector direction , at least thats how i'm playing it

EDIT: trying to make a quick play at open, APHA 14.90 , stopped out at 14.73 , nothing looking good as of yet.
Last edited by lilmikey on Nov 13th, 2018 9:53 am, edited 1 time in total.
Deal Fanatic
Apr 25, 2006
5412 posts
680 upvotes
lilmikey wrote:
Nov 13th, 2018 9:26 am
Keep eye on SPY and CGC , they will usually tell sector direction , at least thats how i'm playing it
I don't think the correlation is that strong to the point they move in same direction 1:1 all the time. Would be careful with this theory.

You may as well buy SPXL as a better investment.
Last edited by 1xTiMeR on Nov 13th, 2018 9:55 am, edited 1 time in total.
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
Deal Addict
Nov 14, 2006
1729 posts
737 upvotes
GTA
1xTiMeR wrote:
Nov 13th, 2018 9:52 am
I don't think the correlation is that strong to the point they move in same direction 1:1 all the time. Would be careful with this theory.
Never 1:1 , but I use it when trying to make my decisions sometimes, part of my TA (which isnt the best anyways Winking Face)
Member
Mar 28, 2018
269 posts
91 upvotes
Calgary, AB
Really hope this December will be like the last 2 and give a decent rally
Deal Fanatic
Apr 25, 2006
5412 posts
680 upvotes
Judging by OCS sales, Canopy is going to miss very badly. You better hope they are killing it in other provinces lol

Edit: watch Bruce talk his way out of this one. Thing is, numbers don't lie. He will talk up the 4B in cash and will ignore the sale numbers. Street will still buy canopy. I won't be short nor long on these reports but giving my prediction.
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
Deal Addict
Feb 27, 2015
3434 posts
1143 upvotes
Toronto, ON
Can someone explain to me how exactly all these provincial deals work?

I am under the impression that LP are wholesalers to these provincial stores. I.e before Oct 17th, they had already sold all there products upfront and gain the revenue. Then the online stores charge what they want in markup.

So the only real money maker if LP's is if certain products of there's sell out, and then the provincial store buys more.

Correct?
Deal Addict
User avatar
Jul 11, 2011
3479 posts
1837 upvotes
Ontario
Complete decouple from SPY here, trade safe

APH at 13.70 should bounce hard.

Should, doesn't mean it will
Deal Addict
Feb 27, 2015
3434 posts
1143 upvotes
Toronto, ON
Was Hoping to quick flip BE and put those profits into more ASNT.

picked the wrong horse at the wrong time.

As per usual for me. Haha
Deal Addict
Nov 14, 2006
1729 posts
737 upvotes
GTA
JRGUINNESS wrote:
Nov 13th, 2018 11:24 am
Was Hoping to quick flip BE and put those profits into more ASNT.

picked the wrong horse at the wrong time.

As per usual for me. Haha
Risky play on that one, I know what you were thinking, you gonna cut losses or stay with it at this point?
I'm going to try and play APHA around 14 again today, lets see how I make out

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