The Universe, week of Jun 29 2015… Cannabis stock fever — it’s catching on!
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 ||
“If two trees fall in bed together in a Canadian forest…” How to explain this week”s combination between two Cannabis sector stocks, Bedrocan (BNRDF, BED.v) and Tweed (TWMJF, TWD.v). The press reported on it, helping to fuel the reactions in both stocks.If the market perceived the deal”s benefits to go beyond the two companies, then others in the sector would start trading at a premium. But the deal”s exclusively Canadian aspect never crossed the border to generate enthusiasm among US-based equities.
“Oh, how the might are fallin”.” So, what”s the Cannabis fever that”s catching on?
Think in terms of GWPH and INSY. “Awesome,” one might say. “They”ve become monster-sized!” Well, true. But the monsters seem to be retiring for the night. INSY”s 42.30 resistance was met Tuesday, barely pierced by a quarter, before plunging 20% through Thursday. And GWPH touched my longstanding 132.00 target Wednesday, then pierced it momentarily Thursday before plunging Friday to 124.00. I suspect that the selling pressure in either stock exceeded the total selling pressure in all Cannabis stocks for the past year. GWPH and INSY may have become infected for awhile.
“If all the trees in a forest fall but no one”s watching…” None of the above moves happened in a vacuum.
GWPH and INSY”s targets were calculated, and their patterns were reflecting thinner sponsorship. I happed to be asked about BNRDF several days before its deal, and said this about its chart “I do like the volume pattern, and would find any follow-through to be credible for reversing the trend back up.” Many other sector components continue behaving very predictably; unfortunately, their behavior continues to predict further declines. But there are always exceptions.
“The more things stay the same…” There was no net change in this week”s percentages of stocks above and below their rolling 4-week moving averages.
This doesn”t reflect that an unusual number of stocks required calculating lower supports. Two that are testing their previously calculated support are MDBX down to .014 and TAUG down to .004. Frankly — and this isn”t my first time saying this — I”ve been bearish both for a long, long time. In fact, MDBX”s patterns projected to zero when it was trading in the teens. But they”ve reached levels having potential for steep corrective bounces.
TRTC has only attacked my longstanding target in the 9-cent range. But the pattern of its premature bounce suggests that a fresh low will be vulnerable to a bigger bounce.
I want your feedback. Here”s this week”s coverage. I”m currently reviewing it for updating the format. Please take a moment this week to email me with any requests,
| Marijuana Stock Universe for June 29 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 10 | 9.90% |
| trends* | # flat: | 17 | 16.83% |
| # down: | 74 | 73.27% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | flat |
| 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 | 0.044 | 0.102 | 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 | 1.690 | 4.600 | down |
| CANV | 0.860 | 1.640 | down |
| CARA | 11.375 | 12.750 | up |
| CBDS | 1.830 | 5.630 | down |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.015 | 0.029 | down |
| CGRW | 0.550 | 0.750 | up |
| CHUM | n/a | n/a | down |
| CNAB | 0.320 | 0.750 | flat |
| DEWM | 0.001 | 0.003 | flat |
| DIGPD | 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 | 0.016 | 0.025 | up |
| 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 | 0.022 | flat |
| MCIG | 0.035 | 0.074 | down |
| MDBX | 0.140 | 0.290 | down |
| MDCN | 0.005 | 0.022 | down |
| MDRM | 0.032 | 0.061 | up |
| MINE | 0.002 | 0.005 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.001 | 0.003 | down |
| MJNA | 0.063 | 0.080 | flat |
| 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 | 0.304 | 0.615 | down |
| OSLH | 0.001 | 0.005 | down |
| OXIS | 0.023 | 0.033 | down |
| PHOT | 0.019 | 0.065 | down |
| PLPL | 0.220 | 0.315 | flat |
| PMCB | 0.110 | 0.163 | down |
| PNTV | n/a | n/a | down |
| PZOO | 0.005 | 0.013 | flat |
| QEDN | 0.000 | 0.003 | down |
| REDG | 0.000 | 0.003 | flat |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.069 | 0.266 | down |
| SING | 0.008 | 0.016 | flat |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.141 | 0.230 | 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 | 0.300 | 0.480 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.002 | 0.007 | down |
| XTRM | 0.001 | 0.004 | down |
| XXII | 0.820 | 1.160 | flat |