The Universe, week of May 4 2015… Stability, or complacency?
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 another dip last week in the percentage of covered stocks that are above their 4-week moving averages. It was only a net of two, which has been worse — albeit not by much. The percentage of stocks in downtrends increased by two, which has also been worse.
Anecdotally, however, fewer stocks last week were threatening support or sitting at it. The conflicting observations prevents us from labeling it as stability. That would not necessarily be bullish. Picture a rubber band lying on your desk. Stable, right? A rubber band stretched between your fingers would at least be closer to snapping back.
It”s premature to count out that snap back potential. But it”s never too early to fear the alternative — complacency. At least the sector hasn”t extended down on any recent legislative decisions. But my warnings of sell-off risk in leadership like GWPH and INSY were followed by sizable declines, so beware of them not snapping back.
There”s a market maxim, “Sell in May and go away,” which anticipates the summer doldrums. I”m not expecting this year”s broader stock market to adhere to that generality. But I do want to see more surges like those I described here last week, before assuming the sector has lost too much of its backing and curiosity.
| Marijuana Stock Universe for May 4 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 13 | 12.87% |
| trends* | # flat: | 22 | 21.78% |
| # down: | 66 | 65.35% | |
| *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 | 0.015 | 0.040 | down |
| AMMJ | 0.360 | 0.570 | down |
| ARNA | 3.800 | 5.030 | flat |
| ATTBF | 0.093 | 0.175 | flat |
| AVTC | 0.690 | 0.990 | down |
| AXXU | 0.037 | 0.140 | down |
| BLOZF | 0.280 | 0.570 | up |
| BLPG | 0.120 | 0.370 | down |
| BNRDF | 0.530 | 0.615 | down |
| BRDT | 0.032 | 0.094 | down |
| BTFL | 0.071 | 0.232 | down |
| CANL | 1.120 | 1.400 | down |
| CANN | 1.690 | 4.600 | down |
| CANV | 1.810 | 2.410 | down |
| CARA | 10.300 | 11.600 | up |
| CBDS | 1.830 | 5.630 | down |
| CBGI | 0.002 | 0.015 | down |
| CBIS | 0.034 | 0.050 | down |
| CGRW | 0.360 | 0.750 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.670 | 0.990 | flat |
| DEWM | 0.003 | 0.005 | flat |
| DIGP | 0.035 | 0.100 | up |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.013 | 0.028 | down |
| EDXC | 0.019 | 0.047 | down |
| ENDO | 0.014 | 0.031 | down |
| ENRT | 0.032 | 0.050 | down |
| ERBB | 0.006 | 0.010 | down |
| ETST | n/a | n/a | flat |
| EXMT | 0.000 | 0.004 | down |
| FITX | 0.005 | 0.012 | down |
| CAFS | 0.025 | 0.066 | up |
| FSPM | 0.000 | 0.250 | down |
| FULL | 0.260 | 3.640 | down |
| FWDG | 0.002 | 0.006 | down |
| GBLX | 0.126 | 0.338 | down |
| GRCU | 0.000 | 0.004 | down |
| GRNH | 0.055 | 0.098 | down |
| GWPH | 99.450 | 117.350 | up |
| HEMP | 0.016 | 0.025 | down |
| ICBU | 0.002 | 0.011 | down |
| IGRW | 0.002 | 0.004 | flat |
| IMLFF | 0.175 | 0.275 | flat |
| INCC | 0.001 | 0.007 | flat |
| INSY | 49.950 | 59.750 | flat |
| ITNS | 0.006 | 0.011 | down |
| LATF | 0.001 | 0.003 | down |
| LXRP | 0.099 | 0.200 | up |
| MCIG | 0.049 | 0.080 | down |
| MCPI | n/a | n/a | flat |
| MDBX | 0.600 | 0.850 | down |
| MDCN | 0.005 | 0.022 | flat |
| MDRM | 0.016 | 0.038 | down |
| MINE | 0.003 | 0.007 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.003 | 0.025 | down |
| MJNA | 0.080 | 0.011 | down |
| MNTR | 0.507 | 0.928 | down |
| MYEC | 0.012 | 0.027 | down |
| MYHI | 0.210 | 0.330 | up |
| NDEV | 0.040 | 0.165 | down |
| NRTI | 0.005 | 0.019 | down |
| NTRR | 0.045 | 0.110 | flat |
| OGRMF | 0.304 | 0.615 | down |
| OSLH | 0.006 | 0.015 | up |
| OXIS | 0.030 | 0.044 | up |
| PHOT | 0.019 | 0.065 | down |
| PLPL | 0.220 | 0.315 | down |
| PMCB | 0.140 | 0.215 | flat |
| PNTV | n/a | n/a | down |
| PZOO | 0.011 | 0.025 | up |
| QEDN | 0.095 | 0.007 | down |
| REDG | 0.000 | 0.003 | flat |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.069 | 0.266 | flat |
| SING | 0.008 | 0.016 | flat |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.141 | 0.230 | down |
| SRNA | 0.080 | 0.140 | down |
| STEV | 0.071 | 0.100 | flat |
| TAUG | 0.054 | 0.079 | down |
| THCZ | 0.130 | 0.255 | up |
| TRTC | 0.090 | 0.215 | down |
| TURV | 0.410 | 0.775 | flat |
| 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 | 0.360 | 0.613 | down |
| VAPR | 0.030 | 0.090 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.019 | 0.040 | down |
| VPCO | 0.594 | 0.970 | down |
| VPOR | 0.000 | 0.003 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.004 | 0.009 | up |
| XTRM | 0.004 | 0.007 | up |
| XXII | 1.010 | 1.560 | flat |