Cannabis will reach the US... sooner than later!
Recent significant events:
There is no date for the senate to review the bill; we could see large volatility then. (will update asap)
Technical analysis:
--Keeping cannabis related stocks/ETFs closely watched.
- House Passes Bill to Protect Banking for Marijuana Businesses
Measure would prevent federal regulators from penalizing institutions that serve companies operating in states where cannabis is legal. //September 25th, 2019
- House committee approves landmark bill legalizing marijuana at the federal level
The House Judiciary Committee (Democratic-controlled) approved a bill that decriminalizes marijuana on the federal level, removing it from Schedule 1 of the Controlled Substances Act.
The legislation, which passed 24 to 10, has a high chance of approval in the full House where Democrats control the chamber with 234 seats. It’s likely to face a tougher battle in the Republican-controlled Senate, where Majority Leader Mitch McConnell opposes marijuana legalization. //November 19th, 2019
There is no date for the senate to review the bill; we could see large volatility then. (will update asap)
Technical analysis:
- Volume on the ladder of the events created the 3rd largest volume daily since MJ ETF was created (2016).
- 20SMA is our nearest resistance.
--Keeping cannabis related stocks/ETFs closely watched.