The Closing Print live trading and financial blog during market hours.

Cannabis stocks are in the news as the Alternative Harvest ETF (MJ) accelerates out of Phase I it’s “accumulation” period. Institutions appear ready to start the upgrade cycle as the ETF is clearly getting bought at 52-week lows.

Click to enlarge

Alternative Harvest – Cannabis ETF

Those investors who wish to be guarded in their approach to adding this industry group to their portfolio, can skip the stock picking and buy the ETF for the long haul. Phase II is starting. This is the markup phase as discussed in my book.

Phase I is pretty obvious. Institutions have been actively accumulating shares for their portfolios ahead of the crowd over the past 8 weeks. Volume is above average and up days have seen huge spikes in buying.

Click to enlarge

RSI and MACD are bullish, suggesting higher prices in the short-term.

Canopy Growth – Cannabis Favorite

Canopy Growth (CGC) was discussed yesterday here, as we see potential upside unfolding in the days ahead. The first target is the 200ema.

Click the enlarge

RSI and MACD are bullish. Volume increased markedly over the past two trading days. In addition, an obvious invested head and shoulders pattern reflects a neckline at the 21.60 (+/-) zone.

We plan to sell stock into resistance (200ema next level) and buy back shares on dips using this simple strategy.

Finally, remember this, analyst upgrades will most certainly start very soon. This industry group is so unliked that any good news should see higher prices. The lower-priced penny stocks in this group are to be avoided, as weaker hands tend to trade them.

Futures are flat.

Join us today in the trading room for our LIVESTREAM broadcast

during market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading,


Want to become a member? Check details here:

Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends. 

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.