The Universe, week of Jul 27 2015… That was only bathwater.
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 ||
There was a new low this week in the percentages of Cannabis stocks above their rolling 4-week moving averages. There was almost as many issues testing and overlapping supports as I have seen in any single week. By these metrics, it was a bad week for the sector…
…as a whole. But four interesting stories reveal that the sector continues to be diverse.
- TRTC, which has been targeting .09 since it was almost three times higher. It attacked its room for noise down to .077, and surged to attack .12.
- CARA, which became a double at this week”s high, from the last spot it we began considering its pullback as having ended and a new rally leg being underway.
- INSY, which extended to probe its next higher resistance at 43.50, without closing above it. The last similar setup launched a 15% pullback.
- And, of course, there”s GWPH. The ongoing topping pattern may finally be rolling over for its first meaningful correction in awhile. Confirmation is still needed.
Our strategy of focusing on individual setups instead of blanket holdings has made a lot of sense and protected a lot of dollars. And think twice about buying any stock in a downtrend (ongoing series of lower lows and lower lower highs) that hasn”t yet exhibited some sort of accumulation. Remember: New lows are not a buy signal! Just be sure not to become too attached to any single issue — not, yet.
Here”s this week”s levels:
| Marijuana Stock Universe for July 27, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 6 | 5.94% |
| trends* | # flat: | 10 | 9.90% |
| # down: | 85 | 84.16% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | down |
| AERO | 1.530 | 2.440 | down |
| AGTK | 0.000 | 0.009 | 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 | 0.001 | 0.011 | down |
| CANL | 0.750 | 1.250 | down |
| CANN | 1.000 | 2.440 | down |
| CANV | 0.860 | 1.640 | down |
| CARA | 18.300 | 23.550 | 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 | 0.005 | 0.011 | down |
| EDXC | 0.019 | 0.047 | down |
| ENCC (axxu) | n/a | n/a | down |
| ENDO | 0.006 | 0.018 | down |
| ENRT | 0.017 | 0.037 | down |
| ERBB | 0.002 | 0.004 | 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 | down |
| GRNH | 0.023 | 0.067 | down |
| GWPH | 101.550 | 132.000 | flat |
| HEMP | 0.011 | 0.018 | down |
| ICBU | 0.000 | 0.003 | down |
| IGRW | 0.000 | 0.002 | down |
| IMLFF | 0.100 | 0.180 | down |
| INCC | 0.000 | 0.001 | down |
| INSY | 37.900 | 43.500 | 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 | 0.073 | 0.130 | 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 | 0.001 | 0.003 | down |
| MJNA | 0.041 | 0.055 | down |
| MNTR | 0.507 | 0.928 | down |
| MYEC | 0.012 | 0.027 | down |
| MYHI | 0.110 | 0.280 | down |
| NDEV | 0.016 | 0.053 | down |
| NMUS | 0.620 | 1.600 | down |
| NRTI | 0.000 | 0.002 | 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 | 0.010 | 0.030 | down |
| PLPL | 0.190 | 0.237 | down |
| 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 | 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 | 0.107 | 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 | 0.086 | 0.116 | 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 | 0.010 | 0.022 | up |
| XTRM | 0.001 | 0.004 | down |
| XXII | 0.710 | 0.950 | down |