The Universe, week of Aug 24 2015… All bad things come to an end, too.
Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]
Links to || Last week”s Universe || Prior week”s Universe || Previous week”s Universe ||
Did the the number of rising stocks actually fall from last week? Uptrends dropped from 6 to 5. Don”t both with the percentage change, which can add meaning unjustifiably when dealing with such low numbers (but penny stock traders already know that).
My surprise comes after completing a review of the sector”s individual issues. There were several pops last week, and there have been 1-2 pops per week for a couple of months.
Look at CBDS, which I mentioned in the Activity Feed on Monday. It had been one of my poster children for price action contradicting hype. I often pointed out the distributive price action, which ultimately formed a Head & Shoulders, and eventually lost around 90%. But a sudden surge last week called attention to accumulative volume patterns, and by week”s end the stock had almost tripled.
We”ve caught multiple doubles during the past two months (SRNA, TRTC, MDBX, etc.), but the market seems to be igniting after fewer sparks. None of which assures that this continues. It”s still premature to reach a conclusion, but it certainly raises suspicions of having overly-discounted the sector”s potential negatives.
And all is not rosy, as the two highest profile issues (GWPH, INSY) continue deteriorating after having fulfilled very big upside targets. Meanwhile, CARA has continued showing signs of rolling over. Their eventual bottoms could mark a new wave for the sector.
| Marijuana Stock Universe for August 24, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 5 | 4.95% |
| trends* | # flat: | 14 | 13.86% |
| # down: | 82 | 81.19% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | down |
| AERO | 1.000 | 1.950 | down |
| AGTK | 0.000 | 0.009 | down |
| AMMJ | 0.125 | 0.272 | down |
| ARNA | 2.410 | 3.320 | down |
| ATTBF | 0.035 | 0.075 | down |
| AVTC | 0.000 | 0.400 | down |
| BLOZF | 0.130 | 0.340 | down |
| BLPG | 0.015 | 0.086 | down |
| BNRDF | 0.600 | 0.740 | flat |
| BRDT | 0.012 | 0.048 | down |
| BTFL | 0.071 | 0.232 | down |
| CAFS | 0.001 | 0.011 | down |
| CANL | 0.750 | 1.250 | down |
| CANN | 0.330 | 1.160 | down |
| CANV | 0.860 | 1.640 | down |
| CARA | 18.300 | 23.550 | up |
| CBDS | 2.200 | 3.670 | flat |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.020 | 0.041 | flat |
| CGRW | 0.360 | 0.610 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.320 | 0.750 | down |
| DEWM | 0.001 | 0.003 | down |
| DIGP | 0.170 | 0.400 | down |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.009 | 0.015 | down |
| EDXC | 0.019 | 0.047 | down |
| ENCC | n/a | n/a | down |
| ENDO | 0.006 | 0.018 | down |
| ENRT | 0.017 | 0.037 | down |
| ERBB | 0.001 | 0.003 | down |
| ETST | n/a | n/a | flat |
| EXMT | 0.000 | 0.004 | up |
| FITX | 0.002 | 0.006 | down |
| FSPM | 0.000 | 0.250 | down |
| FULL | 3.060 | 3.660 | down |
| FWDG | 0.000 | 0.002 | down |
| GBLX | 0.270 | 0.460 | flat |
| GRCU | 0.000 | 0.004 | flat |
| GRNH | 0.023 | 0.067 | down |
| GWPH | 101.550 | 132.000 | down |
| HEMPD | 0.110 | 0.180 | down |
| ICBU | 0.000 | 0.003 | down |
| IGRW | 0.000 | 0.002 | down |
| IMLFF | 0.100 | 0.180 | down |
| INCC | 0.000 | 0.002 | down |
| INSY | 30.780 | 39.600 | down |
| ITNS | 0.001 | 0.005 | down |
| KAYS | 0.067 | 0.187 | flat |
| LATF | 0.000 | 0.001 | down |
| LXRP | 0.098 | 0.205 | flat |
| MCIG | 0.035 | 0.074 | down |
| MDBX | 0.050 | 0.087 | down |
| MDCN | 0.000 | 0.001 | down |
| MDRM | 0.016 | 0.051 | flat |
| MINE | 0.002 | 0.005 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.000 | 0.001 | down |
| MJNA | 0.041 | 0.055 | down |
| MNTR | 0.507 | 0.928 | down |
| MYEC | 0.010 | 0.015 | down |
| MYHI | 0.013 | 0.188 | down |
| NDEV | 0.016 | 0.053 | down |
| NMUS | 0.620 | 1.600 | down |
| NRTI | 0.000 | 0.002 | down |
| NTRR | 0.022 | 0.046 | down |
| OGRMF | 0.208 | 0.337 | down |
| OSLH | 0.000 | 0.001 | down |
| OXIS | 0.015 | 0.027 | down |
| PHOT | 0.010 | 0.030 | down |
| PLPL | 0.109 | 0.177 | down |
| PMCB | 0.080 | 0.129 | down |
| PNTV | 0.001 | 0.007 | down |
| PZOO | 0.004 | 0.008 | down |
| QEDN | 0.000 | 0.003 | down |
| REDG | 0.000 | 0.003 | down |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.030 | 0.100 | down |
| SING | 0.005 | 0.012 | flat |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.082 | 0.165 | down |
| SRNA | 0.160 | 0.330 | up |
| STEV | 0.049 | 0.072 | flat |
| TAUG | 0.000 | 0.005 | down |
| THCZ | 0.051 | 0.013 | down |
| TRTC | 0.100 | 0.165 | flat |
| TURV | 0.710 | 1.11 | up |
| TWMJF | 1.100 | 1.380 | down |
| UPOT | 0.080 | 0.270 | down |
| USEI | 0.000 | 0.003 | down |
| VAPE | 0.088 | 0.275 | down |
| VAPR | 0.000 | 0.050 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.024 | 0.045 | up |
| VPCO | 0.069 | 0.840 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.005 | 0.013 | flat |
| XTRM | 0.001 | 0.004 | down |
| XXII | 0.430 | 0.780 | down |