CANN is looking like a nice buy. It is obviously volatile, and I would use proper risk management if you are going to long this stock. We had a successful bull flag pop and are waiting for this bull pennant to pop out. When it does pop, it will most likely shoot up quickly. Keep an eye on CANN. Happy trading!
Weed stock are on a roll right now. CANN and CBDS have always followed each other. Big volume spike, and with TLRY and all the big names in the marijuana sector on fire, speculative fervor will transition into the smaller names. For the most part, though, I like this as a sympathy play off today's CBDS move
Today Cann got back over the 50 day SMA. I got the stop loss near $3 and sell target $7.50-$9.50. November should also have a very large wave, so keep your eyes open. Overall we're in an uptrend for 3 months. Beyond that January gets a pop and April. MJ has developed seasonal runs.
First day of legal sales in Canada is Oct 17 (AFAIK) so comparing to the first day of legal sales in Colordo (1 Jan 2014) is a good idea.
Green line here shows the week of legal sales. Price ran up into it (similar to the action we're seeing in CANNMJ now ) and it didn't stop once sales started.
This is for all the bears in the Canadian MJ space. Watch...
CANN broke out and it looks like we have some major upside potential. The only thing I am not liking is the RSI being oversold on the 4 hour. We might see some short term pull back. Other than that, profit targets are laid out. Happy trading mates!
With General Cannabis Corp. (OTC: CANN), you are investing in the end of marijuana prohibition with a company that quite literally does it all.
This Denver-based firm is like a weed mutual fund.
It offers real estate and consulting services, dispensary security, and financing for cannabis companies. It also supports cannabis companies with brand development,...
I think Cann will dip further nearing $2.30 then bounce. It should build power then spring near July 1st. I'd total target $18. Things can get weird in the OTCworld, so if it doesn't move well near July 1st get out.
Keep this and other MJ stocks on your radar for now.
Perfect n°6 pattern. This stock is up beacause the marijuana sector is getting hotter again since its going to be legalized in canada and maybe even in usa but this will affect the stock price in future: as for now the psychology and the patterns beat the news/rumor (maybe we'll have a V price ation similar to that we had at the end of december and at beginning of...
Do or die coming up for CANN on 1 hr charts. Triangle Continuation pattern in play, break down would be ugly but lead to excellent entry at lower prices when MJ stocks come back in favor. But a lot of indecision in candles,,Struggle between the bulls and bears for sure about to break one way or another. Id take long on break out and look for solid support below to...
This trade is somewhat more complex for my taste with a number of different short term and long term plays.. However, the overall trade is to the long side based on the weekly and daily charts.. As you all know, this is purely speculative based on the chart pattern..
What started out as a short term trade has now shifted to a long term trade.. I entered very...
Possible bounce play for MJ penny stocks. It may be time for gains in the MJ sector, but I feel it will be short lived. Plenty of possible profit still.
Clearing $2 is a good sign of strength. The 1st target is most likely and the 2nd target is questionable. If the 2nd target is a go then daily price needs to stay above the 10ema area and later ride up the...