The cannabis stocks look to have moved into an early second phase of daily consolidation after a recent break from a pullback or in some individual stocks a lower consolidation period. The sector is hot, does it cool off through continued consolidation or is a pullback in store?
Aurora Cannabis of all the big licensed producers has the healthiest RSI when compared to many that still remain in the overbought territory.
See why 48North Cannabis Corporation is my #1 cannabis stock pick for 2019:
We take a look at the general cannabis market direction using the Horizons Marijuana Life Sciences ETF to identify levels of support and resistance.
Do we cool off by consolidating or pulling back?
If we pullback, how far is healthy?
Am I bullish, bearish, or neutral? (I won’t make you watch the whole video to find out, I’m bullish but remaining cautious)
Will Aurora go to $10?
When will my sentiment change to neutral on Aurora Cannabis?
Charts Reviewed in Today’s Video:
Horizons Marijuana Life Sciences ETF HMMJ
Aurora Cannabis (ACB)
Canopy Growth Corporation (CGC WEED)
48North Cannabis Corporation (NRTH)
Medipharm Labs (LABS)
Quadron Cannatech Corporation (QCC)
All of the above stocks are either on the Toronto Stock Exchange (TSX) or Canadian Securities Exchange (CSE), all of which have an OTC (US) or New York Stock Exchange (NYSE) equivalent ticker.
Disclaimer: Investing in the stock market is risky and should be completed through a professional financial advisor / firm. These videos are for entertainment purposes only.