Bigger Picture

AEGY
Contracting volume since January”s high has all but died on the vine. Bounces have begun chipping away at the pullback”s internal resistance. Three levels are identified. Breaking above them while volume begins expanding again would target an attack on 1.5 cents, potentially also 1.75 cents. Meanwhile, support at a half-cent might be unable to prevent another dip from breaking lower.

AERO
VOLUME CAVEAT… “X” marks the spots where new sponsorhip reinforced what was already a gradually firming chart. Its 61.8% extension to 10.22 is the earliest possible candidate for a near-term peak, so peaking there is potentially bullish, because that suggests excessive optimism hasn”t yet overpriced shares. Now that pattern”s maximum allowable pullback is being tested at 6.70 and 7.64. Closing under 5.83 would start to signal a much bigger drop underway. Back above 8.49 should resume the rally targeting 15.16… VOLUME CAVEAT.

ATTBF
VOLUME CAVEAT… “X” marks the spots where new sponsorship reinforced what was already a gradually firming chart. Its 61.8% extension to 1.23 is the earliest possible candidate for a near-term peak, so peaking there is potentially bullish, because that suggests excessive optimism hasn”t yet overpriced shares. A healthy corrective pullback would target 0.77-0.88. Closing higher first could extend to 1.48-1.57 before correcting back down… VOLUME CAVEAT.

AVTC
VOLUME CAVEAT… The time spent consolidating January”s explosion has been sufficient to form a durable base, capable of launching another upleg. That upleg may be underway already, but needs to close above 4.64 on sharply expanding volume for confirmation — especially without probing intraday above 4.64 and then closing back under it, also while volume expands. I recently bought this, and will sell at the first sign of difficulty… VOLUME CAVEAT.

BRDT
VOLUME CAVEAT… February”s rally has reached near-term resistance attacking .72, and is targeting .80 or even .93 so long as .57 holds as support… VOLUME CAVEAT.

CANN
Volume expanded convincingly into March”s high. Its correction has been testing support at 33, where the rally”s last upleg began. The consolidation”s internal resistance has been tested at 42.67, so closing any higher would start to signal another upleg underway, confirmed above 46.25. Meanwhile, support at 35.55 is being tested, with the next lower support at 30 and 29.95 before signaling a bigger downleg underway instead.

CANV
VOLUME CAVEAT… Volume never really exceeded a prior upleg”s turnover as February”s surge was peaking. And that is despite extending a 61.8% move to 161.8%, by extending a three-day surge into a fourth day. Now its retracement is testing 75.75 support, whose break would have a last chance to hold at 59. Closing first back above 95.50 on expanding volume could rally to 154 just in the context of a temporary bounce… VOLUME CAVEAT.

CARA
BREVITY CAVEAT… Price history is limited to only several weeks, and it pointed almost straight up until the past two weeks. Other sponsorship may arrive and intercede with the pullback currently underway that is targeting 16.19 or 14.77. Back above 19.25 would start to signal the next rally leg already underway… VOLUME CAVEAT.

<img data-mozilla-paste-image="0" src="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAArIAAAJACAIAAAD+QRLFAAAgAElEQVR4nO3de7QlVX3o+2pa6McZek/Ek9sOjYYoHo6iQYIaNUR5NGCwCW+aV9ug3TQNdMtDQGzoDX18P6LRhCNGz8lJRlCiJ/eSy00wAvtEIzqiFwIkEUKEfj+B7mavtXY3NHX/qLXnrl2PX82qVbVq/ub6fsYcjNpVc836/Wo95m/PWrsJgiVbg0u3z1q2M7jsmYOu3BO12as6ee2gK/fMXjEx3ZbtodFoNBqNpql9eNfsD++afcnOWZfsOOji7QddvD24YGuweEuweEsQXPBUVBmY4qDfLt873czOy56ZtWxnsPTZfrtoF43mUttOo9FotIx2wdZkW7wlOGdzcPbG4Kz1wVnrg9OfD

The following stocks will have individual blog posts published for each. Relevant patterns, trendlines, volume and other technical factors will be highlighted and discussed in the accompanying commentary. Proprietary techniques for projecting potential targets and for identifying allowable risk will also be identified.

AEGY
AERO
ATTBF
AVTC
BRDT
CANN
CANV
CARA
CBDS
CBGI
CBIS
CDTI
DEWN
EAPH
EDXC
EKSO
ENDO
ENRT
ERBB
EXMT
FITX
FSPM
FULL
GRNH
GWPH
HEMP
HSCC
ICBU
LATF
MCIG
MDBX
MJNA
MJNE
MNTR
MWIP
MYHI
NRTI
NTRR
NVLX
PARS
PHOT
PLPL
PRPM
PTOG
PTPF
REFG
RFMK
SING
SKTO
SPLI
STEV
TAUG
TRTC
TWD
VAPE
VAPR
VEND
VGPR
XTRM
ZDPY

The new week has begun, and Marijuana Stock Technical Trader is officially covering the cannabis sector. A universe of 60 stocks with annotated charts and commentary will be made available overnight. I am marking up the charts with my notes in groups of 10, alphabetically (sorry, ZDPY).

This list is culled from a combination of Alan Brochstein”s
420 Investor universe, and from comments / messages posted over the weekend to Marijuana Stock Technical Trader.

A glossary / FAQ will be available to help discern some of the jargon. But that”s no reason not to ask for clarification or elaboration to better understand the analysis. 

Two caveats…

The first, only half-jokingly:
Singer George Michael is in the news for having quit cannabis 1-1/2 years ago. There”s the Crimean referendum, a mysteriously vanished Boeing 777, and George Michael has sobered up. Slow news day. All kidding aside, don”t take this for granted — be on watch for any other pop culture stories.

Caveat number-two: The broader market rally is at a big decision point after declining throughout last week. Early going overnight dropped 60 Dow points, which have since been recovered. Europe”s exchanges open in 3 hours, and the US regular open is still 8 hours away. Cannabis stocks largely side-stepped the broader market”s last downleg. Second time isn”t always so charming.

Now, two lists — the second one to follow in a separate post 

DISCLOSURE: I and immediate family currently own AVTC, CBIS, CBGI, EDXC, PHOT, MCIG, MJNA and VAPR. There will never be a change to these positions that isn”t consistent with previous still-current comments and chart annotations. I will announce on this blog any changes to these positions. And no new position will be added for any newly initiated coverage without at least one full day passing.

Best of luck to all!

Since Kyle and Alan introduced me to you yesterday, the community for my new product has come out of the gate strongly. I”m impressed by the interest — its breadth, its depth, its fervor — in everything from seeing idea flow to learning analytical techniques.

Awesome.

We”re just a few hours away from publishing the annotated charts. Each will be accompanied by comments and specific parameters like those in the samples preceding this post. More so, the patterns and their calculations will be outlined and identified.

I want to thank you all for being patient. Not only with the countdown of the launch. But also with the process after launching, as we (you and I) find the proper rhythm and balance for updating content, alerting subscribers, answering questions, joining conversations and more.

So, please don”t hesitate to suggest improvements and additions that can aid your trading decisions.

      -=Rod

This morning I am selling Terra Tech Corp. (TRTC) as it probes $1. The portfolio bought it last week for 55 cents.

The stock was bought in anticipation of a Symmetrical Triangle breakout. This morning”s surge is fulfilling the pattern”s 261.8% measurement at 1.05

Also, this is the third consecutive session of surging. That sequence tends to identify a near-term peak.

Finally, this is about trading, and I am selling strength. There is another valid strategy for maintaining exposure to further upside, if willing to risk getting a lower price in exchange. Simply, sell if price were to dip back under yesterday”s 85-cent high, or close under its 84-cent close.