BTCanadian

BTCanadian

Since the last update WEED has been correcting within the triangle that I had defined, slowly making its way down and bouncing really hard off the upward trend line, taking it to the top of the triangle and closing on the 61.8% Fibonacci retrace. There is some resistance at this point as it will try to break its way out of the triangle for confirmation of a...

BTCanadian

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...

BTCanadian Updated 

CMED has joined WEED in it's journey through the triangle, looking for any support it can get at the 200 day moving average. Continuing downward, a re-test of 28.00 and further are likely. I have indicated any remaining support or possible rebound zones. Thanks for viewing my charts!

BTCanadian Updated 

We have officially fallen below the upward trend line and out the triangle, stopping right at the 50% Fibonacci retrace, which was to be expected. From here, there is not much left for support. We could bounce and come back into the channel, but a re-test of ~23.75 is more likely, and subsequently a re-test of the 38.2% Fib if support cannot be found there....

BTCanadian

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...

BTCanadian

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...

BTCanadian

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,...

BTCanadian

We have closed below the upward trend line, and out of the falling wedge. The weakness of the reaction rally foreshadowed the sharpness of the decline that followed. If we cannot hold support at 9.00 and start to form a reversal. If not, we will most likely test 8.50. Today hit support and got rejected twice, Will this be a reversal or will it continue to test lower?

BTCanadian

As we can see, TSX:LEAF is approaching the wedge, where the upward trend line meets the current downward. There is where it will have to find support. The drop after the hearing that nearly lost, didn't help the situation. Hopefully we can see a reversal at that point.

BTCanadian

We can see that TSX:ACB just can't seem to keep volume or momentum. Although it had traced all the way back down to the .618 Fibonacci retrace, where it finally found some support and did a little bounce, but there is now heavy resistance it will have to face at 10.60. It is following the temporary downward trend line, indicated by the dotted green line, coming...

BTCanadian

Just a quick update today, indicating some new support and resistance zones.

BTCanadian

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...

BTCanadian

After taking a tumble, hoping for it a bit sooner, we can see that TSXV:CRON has bounced off support just north of the 61.8% Fibonacci retrace. This and strong buyer volume, leading to a strong close at +12.41%, with a green candle with no top shadow. There may be a bit of resistance and possibly slight pullback at ~11.74, but if volume stays the way it does, I...

BTCanadian

Aurora didn't get as high as the other stocks, rather ending the last few days in the red. Forcing me to remove the previous support I was worried about, as well as the possible new upward trend line, replacing it with a dotted green temp downtrend line. It didn't recover well from that broken neck. There wasn't much of a shadow and the candle closed almost full...

BTCanadian

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...

BTCanadian

On this Friday's chart, you can see that we have bounced off the light support line and closed above to a nice little upward consolidation right in the middle of the channel. The main support at 18.66 is now confirmed as heavy support. Today's final candle closed with a slight green hammer, which could indicate a positive Monday open, taking us towards 18.69. If...

BTCanadian Updated 

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....

BTCanadian Updated 

Stocks are the only time breaking your neck can be a good thing. But it is usually scary for a bit afterwards. Some big volume came in and sent us shooting right past the 78.6% retrace, but right back down again as volume petered off and we look for support. Today did close with a minuscule green candle, sporting a small shadow. This could mean we might test the...