The Universe, week of August 11 2014
I opened last week”s issue of The Universe with a single word, the first word that came to mind when reviewing the trend percentages. “Brutal”. Consider this week”s issue “Son of Brutal — The Bloodline Extends“.
Four-week trending percentages changed very little, but there was very little room for them to change. Uptrends had sunk already into single-digit percentages, and that only deteriorated further. The percentage of MJ stocks trending down during the past four weeks increased. While I do not record the number of stocks that fell to support or that broke support, I can report that this number was fewer than in previous weeks. But that”s all based on my subjective analysis, so I hesitate to consider that as the trend slowing.
We review the sector almost every day during Livdesk, so the readings shouldn”t be surprising. But, of the bigger picture support and resistance levels identified below, it is interesting which two stocks are the most noteworthy. One has finally fallen back to long-term support, while the other is breaking its medium-term support.
MDBX — I”ve had a $12 target since launching this service, and MDBX was then trading at $. I loved this stock when it was last at this price… a year ago. My target then was $60, and it went to $100. There has been no accumulative pattern during the decline, and there still isn”t. But support is support, and a “dead cat bounce” should be anticipated at some point.
TAUG — While MDBX”s profile is almost as high as the flagship GWPH, at the opposite end of the spectrum is TAUG. Being much lesser-known didn”t prevent an impressive rally two months ago. But any higher-profile that earned it has yet to prove that it attracted deeper sponsorship. Narrow ranging around .034-.038 ended the week by breaking lower, and that pattern is an opportunity for someone. The break must be rejected almost immediately to avoid gaining traction for undoing the balance of its two-month gain. Rejecting it by snapping back early this week would make this pattern our most bullish. It is meanwhile the most vulnerable.
The broader market is as much a symptom as it is a cause of the sector”s continued weakness. Speculative gains requires attracting speculators instead of driving them away. The MJ sector is somewhat of a canary in the coalmine, in that regard, so its improvement could be a barometer of the broader market”s future.
Enjoy!
| Marijuana Stock Technical Trader”s Universe for August 11, 2014 | |||
| Reference this table and its video during stock reactions | |||
| 4-week | # up: | 7 | 7.45% |
| trends* | # flat: | 23 | 24.47% |
| # down: | 64 | 68.09% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACAN | n/a | n/a | n/a |
| ACGX | 0.002 | 0.004 | down |
| ADCS | n/a | n/a | n/a |
| AEGY | n/a | n/a | flat |
| AERO | 4.800 | 5.800 | down |
| AGTK | 0.222 | 0.275 | flat |
| ANAS | 0.002 | 0.005 | down |
| ANYI | 0.005 | 0.020 | down |
| ARNA | 4.000 | 5.000 | down |
| ATTBF | 0.330 | 0.470 | down |
| AVTC | 2.050 | 2.500 | flat |
| BIMI | 1.110 | 2.100 | flat |
| BLOZF | n/a | n/a | n/a |
| BLPG | n/a | n/a | down |
| BRDT | 0.260 | 0.350 | down |
| CALB | n/a | n/a | up |
| CANL | 1.510 | 1.990 | flat |
| CANLF | 0.300 | 0.500 | down |
| CANN | 4.250 | 7.750 | flat |
| CANV | 0.000 | 4.400 | down |
| CARA | 11.200 | 13.450 | down |
| CBDS | 9.000 | 11.580 | up |
| CBGI | 0.015 | 0.055 | flat |
| CBIS | 0.070 | 0.092 | down |
| CNAB | 0.897 | 2.300 | down |
| CTCO | cybk | 1.500 | flat |
| CYBK | 0.015 | 0.036 | flat |
| DEWM | 0.002 | 0.004 | flat |
| DIGP | n/a | n/a | up |
| DSCR | n/a | n/a | down |
| EAPH | 0.013 | 0.020 | down |
| EDXC | 0.056 | 0.086 | down |
| EGRVD | n/a | n/a | n/a |
| ENDO | 0.023 | 0.040 | down |
| ENRT | 0.118 | 0.157 | down |
| ERBB | 0.011 | 0.020 | down |
| EXMT | 0.000 | 0.004 | down |
| FITX | 0.053 | 0.085 | up |
| FRTD | n/a | 0.008 | flat |
| FSPM | 0.500 | 1.500 | flat |
| FULL | 6.790 | 7.790 | down |
| GBLX | 1.085 | 1.290 | flat |
| GRCU | 0.009 | 0.016 | down |
| GRNH | 0.175 | 0.235 | down |
| GWPH | 81.400 | 88.450 | down |
| HEMP | 0.023 | 0.052 | down |
| ICBU | 0.013 | 0.035 | down |
| IGRW | 0.000 | 0.017 | down |
| INSY | 24.600 | 29.800 | down |
| ITNS | 0.007 | 0.011 | down |
| LATF | 0.003 | 0.007 | down |
| LXRP | 0.052 | 0.180 | down |
| MCIG | 0.365 | 0.510 | down |
| MDBX | 12.000 | 16.600 | down |
| MDCN | 1.240 | 2.000 | down |
| MDMJ | n/a | n/a | down |
| MDRM | 0.075 | 0.099 | down |
| MINE | 0.005 | 0.011 | down |
| MJMD | 0.342 | 0.552 | down |
| MJMJ | n/a | n/a | down |
| MJNA | 0.125 | 0.184 | down |
| MJNE | n/a | n/a | flat |
| MLCG | 0.015 | 0.050 | down |
| MNTR | 0.660 | 1.767 | down |
| MYEC | 0.009 | 0.020 | down |
| MYHI | 0.048 | 1.300 | down |
| NRTI | 0.048 | 0.081 | down |
| NTRR | 0.194 | 0.284 | down |
| NVLX | 0.260 | 0.317 | flat |
| OSLH | 0.015 | 0.034 | down |
| PAUFF | n/a | n/a | n/a |
| PHOT | 0.075 | 0.175 | flat |
| PLPL | 0.314 | 0.426 | down |
| PMCM | 0.001 | 0.002 | down |
| PRPM | n/a | n/a | flat |
| PZOO | 0.027 | 0.040 | down |
| QEDN | 0.007 | 0.020 | flat |
| REDG | 0.001 | 0.003 | up |
| RFMK | 0.001 | 0.002 | flat |
| RSSFF | 0.255 | 0.460 | down |
| SING | 0.015 | 0.032 | flat |
| SKTO | n/a | 0.004 | down |
| SPRWD | 0.275 | 0.350 | down |
| SRNA | 2.150 | 3.375 | down |
| STEV | 0.076 | 0.110 | flat |
| TAUG | 0.028 | 0.043 | down |
| TRTC | 0.295 | 0.403 | down |
| TURV | 0.960 | 1.35 | flat |
| TWMJF | 2.040 | 2.510 | down |
| UPOT | 0.059 | 1.040 | down |
| USEI | 0.002 | 0.008 | up |
| UTRM | 0.000 | 0.000 | down |
| VAPE | 1.880 | 2.870 | up |
| VAPR | 0.068 | 0.135 | down |
| VGPR | 0.002 | 0.008 | flat |
| VPCO | 3.570 | 4.890 | down |
| VPOR | 0.045 | 0.064 | down |
| VRCI | 0.009 | 0.025 | down |
| XTRM | 0.003 | 0.008 | down |
| ZDPYD | n/a | n/a | n/a |