The Universe, week of Jul 13 2015… Bank on it.
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 ||
The past week brought news of a legislative initiative to remove one of the major barriers to conducting business in the cannabis industry. While perfectly willing to accept cash for payment of tax collected on cannabis sales, government is unwilling to permit cannabis businesses access to common banking services. The legislation acknowledges the hypocrisy, while not endorsing the industry. Regardless, barriers to conducting business are barriers to attracting investors.
Not that this makes overvalued stocks suddenly fairly valued. That”s not my expertise, but chart patterns have suggested for a long time that the sector was in decline. There have been exceptions…
Last week”s Universe highlighted corrective bounces becoming likely in MDBX and VAPE. They followed through quickly. I”ve updated specific parameters in real-time on the Activity Feed. I”m still stalking TRTC, which has rolled over from its recent consolidation, to attack prior lows where there is potential for a bigger corrective bounce.
We”re still talking about corrective bounces, and broader sector declines. Perhaps easing banking regulations will change the conversation.
| Marijuana Stock Universe for July 13, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 8 | 7.92% |
| trends* | # flat: | 14 | 13.86% |
| # down: | 79 | 78.22% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | down |
| AERO | 2.310 | 4.030 | down |
| AGTK | 0.008 | 0.022 | down |
| AMMJ | 0.180 | 0.385 | down |
| ARNA | 3.800 | 5.030 | flat |
| 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 | 0.005 | 0.030 | down |
| CANL | 0.750 | 1.250 | down |
| CANN | 1.000 | 2.440 | down |
| CANV | 0.860 | 1.640 | down |
| CARA | 12.400 | 14.450 | up |
| CBDS | 1.830 | 5.630 | down |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.015 | 0.029 | down |
| CGRW | 0.550 | 0.750 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.320 | 0.750 | down |
| DEWM | 0.001 | 0.003 | down |
| DIGP | 0.235 | 0.465 | down |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.008 | 0.015 | flat |
| EDXC | 0.019 | 0.047 | down |
| ENCC (axxu) | 0.037 | 0.140 | down |
| ENDO | 0.014 | 0.021 | flat |
| ENRT | 0.017 | 0.037 | down |
| ERBB | 0.003 | 0.007 | 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 | 3.360 | 4.140 | flat |
| FWDG | 0.000 | 0.002 | down |
| GBLX | 0.270 | 0.460 | up |
| GRCU | 0.000 | 0.004 | down |
| GRNH | 0.023 | 0.067 | down |
| GWPH | 101.550 | 132.000 | up |
| HEMP | 0.011 | 0.018 | down |
| ICBU | 0.002 | 0.011 | down |
| IGRW | 0.000 | 0.002 | down |
| IMLFF | 0.100 | 0.180 | down |
| INCC | 0.000 | 0.001 | down |
| INSY | 32.450 | 39.600 | up |
| ITNS | 0.003 | 0.007 | down |
| LATF | 0.000 | 0.001 | down |
| LXRP | 0.098 | 0.205 | flat |
| MCIG | 0.035 | 0.074 | down |
| MDBX | 0.116 | 0.171 | down |
| MDCN | 0.005 | 0.022 | down |
| MDRM | 0.016 | 0.051 | flat |
| MINE | 0.002 | 0.005 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.001 | 0.003 | down |
| MJNA | 0.052 | 0.070 | down |
| MNTR | 0.507 | 0.928 | down |
| MYEC | 0.012 | 0.027 | down |
| MYHI | 0.110 | 0.280 | flat |
| NDEV | 0.040 | 0.165 | down |
| NMUS | 1.220 | 3.200 | down |
| NRTI | 0.001 | 0.003 | down |
| NTRR | 0.017 | 0.030 | down |
| OGRMF | 0.250 | 0.337 | down |
| OSLH | 0.001 | 0.005 | down |
| OXIS | 0.015 | 0.027 | down |
| PHOT | 0.019 | 0.065 | down |
| PLPL | 0.190 | 0.237 | flat |
| PMCB | 0.080 | 0.129 | down |
| PNTV | 0.001 | 0.007 | down |
| PZOO | 0.005 | 0.013 | down |
| QEDN | 0.000 | 0.003 | down |
| REDG | 0.000 | 0.003 | flat |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.040 | 0.130 | down |
| SING | 0.005 | 0.012 | flat |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.107 | 0.165 | down |
| SRNA | 0.040 | 0.090 | down |
| STEV | 0.038 | 0.058 | down |
| TAUG | 0.000 | 0.005 | down |
| THCZ | 0.064 | 0.157 | down |
| TRTC | 0.090 | 0.180 | down |
| TURV | 0.710 | 1.11 | up |
| TWMJF | 1.420 | 1.860 | flat |
| UPOT | 0.150 | 0.550 | down |
| USEI | 0.000 | 0.003 | down |
| UTRM | 0.000 | 0.000 | down |
| VAPE | 0.315 | 0.470 | down |
| VAPR | 0.000 | 0.050 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.036 | 0.066 | up |
| VPCO (1:5) | 0.663 | 1.960 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.005 | 12.000 | up |
| XTRM | 0.001 | 0.004 | down |
| XXII | 0.710 | 0.950 | down |