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Marijuana Stocks Flying High (video)

About 2 weeks ago, member @bluemagic had asked for my opinion on a few top picks in the cannabis sector: CANN, AMMJ & GRNH. Those charts all had very well-defined technical levels & bullish developments to boot & since then, those 3 stocks gained 140%, 73% & 74% respectively. After bringing my attention to the marijuana stocks, I started digging deeper & found chart after chart with bullish chart formations and recent price action, with quite a few stocks at or near key resistance levels, either poised to breakout or having just recently done so, many of these breakouts occurring one high volume to boot. The sector has recently been moving higher with many of the cannabis stocks participating. This trend could continue for days, weeks, months or it could fizzle out quickly, should the momentum traders decide to exit & move on to the next sector de jour.

Since posting the charts on the three stocks mentioned above, I have shared several other stand-outs candidates in the sector within the trading room, all of which & then some are covered in this video. The majority of these stocks are extremely aggressive, low-priced penny stocks, most likely with questionable fundamentals & no earnings but I have also added a few stocks with larger market capitalizations and more diversified business models. Price targets & other key technical levels are discussed with each of these trade ideas, all of which are unofficial trade ideas at this time. I would also welcome any other suggestions for those following the sector. The following cannabis related stocks are covered in the following order: ACBFF, AERO, AMMJ, ATTBF, CANN, CANV, CARA, CBDS, CBIS, CCAN, CGRW, CHUM, CNABE, EAPH, EDXC, ENRT, ERBB, FULL & GRNH.

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2 Comments

  1. sportofkings April 15, 2016 1:10 pm at 1:10 pm

    Hi Randy,

    You have a big, list, if possible can you throw in one more TRTC?

    Thanks,

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    • rsotc April 15, 2016 3:27 pm at 3:27 pm

      sportofkings- Funny, @joefriday just mentioned TRTC as one of his favs along with CANN. Here’s my chart on TRTC along CANN plus another new one (to me) that wasn’t covered in the video, MJNA. Here are my comments to joe along with my charts:

      Thx JF. CANN is probably my biggest holding in the cannabis sector but I wasn’t aware of the other two until you mentioned them. Very clean charts with well defined downtrends & R levels/targets on both although it looks like I missed the breakout on TRTC or any objective entry although who knows how a 46 cent stock can go before getting too “expensive”.. lol. Coming up on resistance around 0.565 although MJMA has yet to break above its downtrend line… yet:

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