I am finally back from vacation so I can start to post more TA again! I wanted to do some TA on a solid pot ETF I found a few weeks ago that appears to be loading up for a support bounce. MJ ETFMG Alt Harvest is a ETF made up of a bunch of high quality pot stocks. If you go to yahoo finance you can see everything in the holdings basket.
From a TA standpoint MJ...
🌿 Alternative Harvest is on its way up after an extremely bearish last half of 2019 for pot stocks, but is it up in smoke or down in ashes for MJ? Right now we have MJ rallying off the bottom as darlings of cannabis like Aurora and Tilray push higher. This move in some pot stocks has pushed others up. Some of this is fundamental, with some better than expected...
Last post on MJ Alternative Harvest we started we were opening longs @ $11.90
Currently sitting up 5%
We took this position based off the large timeframes, the weekly and 2 week.
Now you see a breakout with a settlement back on old Resistance to test as support.
Key is to play this as support. If it shifted right and than turned to break support back below...
Buy ETFMG Alternative Harvest (MJ.US)
ETFMG Alternative Harvest ETF is an exchange-traded fund incorporated in the USA. The Fund seeks total return performance of the Prime Alternative Harvest Index, which tracks companies likely to benefit from the increasing global acceptance of various uses of the cannabis plant.
Market Cap: $764Million
Cannabis stocks...
