Very significant bullish day across the sector. If your name didn't react *cough IAN cough* you have to ask yourself why it wasn't participating in such a clear, sector-wide bullish day This is the first time in a long time we have seen the sector react like this as a whole We continue to see the shifting momentum and the hints of bullish momentum sneak up more...
US MJ sector updates Remember many names have earnings in the next two weeks
So many US MJ names have a weak daily candle with a long upper wick. You can compare names across the sector by their daily candles. CURA HARV stand out stronger, GTII and CL stand out weaker standing out weaker
Some names are getting crushed and very extended, we can anticipate the liklihood of short term bounces to set lower highs. bears are in full control all around
GTII has a key weekly support coming up with 4hr oversold and daily close to oversold. I'd anticipate that level to hold the first attempt if we drop right there without a bounce, but if we see a weak bear flag on the daily chart before testing that level next week, that would change the setup and I'd have to revisit this idea
Very strong chart on the daily and weekly, Bulls are anticipating a healthy higher low on any pullback
I'm like how this is creating a bullish flag after its jump earlier in the month. Still got room to go higher if it breaks.
Descending wedge pattern seems to be forming (bullish). Volume is starting to increase and we are testing a possible double-bottom support at 78% fib level. If that doesn’t hold the next support is at 7.78. To confirm trend change I’ll be watching for a break in RSI trend line, daily higher highs/lows, and eventually a break and retest of EMA50 that was strong...