I wasn’t aware of ESSI but thx for bringing it to my attention, I’m going to add it to my watchlist. ESSI has been in a powerful uptrend since mid-2016 with relatively big volume coming into the stock. While the momentum indicators such as the PPO are still moving higher, I would be on watch for the PPO & RSI to turn down soon, thereby confirming the potential negative divergence that is forming beneath this bearish rising wedge pattern. Potential pullback targets, any or all of which could provide objective long entries, are shown on the daily chart below.

Hi Randy, thanks for the helpful video. Would you take a look at ESSI, an explosive stock not on your list? Have a great week!

we can’t win them all.

At least a couple of members here have said that. I realize that the majority of the cannabis stocks, at least the 3 dozen that I follow, are trading below their 52-week highs but nearly all are still way above their 52-week lows & a handful are at or very near new all-time highs.

I’d image you are referring to the sector blowing up due to the recent pullbacks in many of these stocks vs. their performance today. As you can see from my watch-list below, the majority of pot stocks are trading positive today & those that are green are up much more than those in the red.

Essentially, the pot stocks had nothing short of a spectacular & explosive rally leading up to around the US elections & since then, the sector has experienced what seems to me as perfectly normal & in fact, very healthy profit taking/consolidation which was needed to work off the extreme overbought conditions.

From the look of the majority of the charts on my list, I favor some more downside in the coming weeks to months but will be looking to start adding back exposure if/when the charts confirm.