I started posting a few of these updated charts on some of the recently highlighted cannabis stock trades idea within the trading room but figured that I’d share those charts & a few more on the front page for an Silver Members that might be interested as I continue to see numerous breakouts & strong momentum in the cannabis related stocks over the last week or so with several still poised to breakout.
MCOA continues to test the 0.03 first target/resistance level since the recent downtrend line breakout. Should that level go, next targets are 0.04 & 0.06 (unadjusted for an optimal fill as are all the targets/resistance levels on the unofficial trade ideas. Best to set your sell limit order slightly below the actual resistance level which you are targeting).
CNAB has clear the 2nd target following the recent secondary trendline breakout.
CNBX now at the 2nd target since the breakout earlier this week. 2.23 area next target if the 1.73 area is clearly taken out.
SGBY challenging downtrend line resistance. Potential targets shown overhead should the stock breakout
The juggernaut known as DEWM has gained nearly 900% since the most recent downtrend line breakout & objective long entry at the support zone on tremendous volume expansion. Little to no resistance overhead until the early 2014 highs around 0.033.
CANN has broken out above both the minor downtrend line + the key 2.00 resistance level.
Watching ENRT for a breakout above this downtrend line & a potential rally towards the 0.068 level.
MCIG continues to move sharply higher, up about 40%, on increased volume following the recent bullish falling wedge breakout about a week ago. Next target zone around 0.32-0.34.
It appears that the train hasn’t left the station on CVSI yet, although a breakout is likely soon if the current momentum in the pot stocks continues much longer
CBIS is another poised to breakout above this bullish falling wedge pattern. Nearby targets/resistance 0.055 then 0.07.
MJNA challenging resistance now with the next stop at 0.15 if it can clearly take this level out.
Additional trade ideas can be viewed in any of the recent Cannabis Stock Trade Ideas video.