This video covers numerous cannabis stock setups that are currently poised to break out as well as follow-up commentary & analysis on some of the recently covered marijuana stocks. Price targets, buy points & key support/resistance levels are covered on each trade idea. The following stocks are covered in this order: DEWM, MCOA, CNBX, EAPH, GRNH, ENRT, TRTC, ATTBF, CNAB, MCIG, MJN.V & OGRMF. This list is not inclusive of all of the promising trade ideas in the sector at this time as the video was stopped shy of the 20 minute mark. Any additional trade setups that look promising will be posted in the trading room within the new Cannabis Stocks group or on the front page & can also be referenced in some of the recent videos.
The frequency of my analysis on the cannabis stocks has increased in recent weeks because I had first noticed quite a few pot stocks falling to support and/or setting up in potential bullish chart formations & in recent weeks noticed many of those stocks either breaking out above well-defined downtrend lines, bullish chart patterns or price resistance with others yet to break out but currently poised to do so. Additionally, I'm seeing broad participation in the sector with the majority of the 40 cannabis stocks that I follow advance sharply on increased volume lately, an indication that the momentum traders are once again engaging this industry on the long side. The marijuana stocks are very much a momentum trade, meaning that the vast majority of stocks will tend to rise or fall sharply in relative synchronicity during certain periods when the momentum traders are buying or selling.