The Universe, week of Nov 9 2015…

By Rod David | November 7, 2015 - 3:33 pm |

[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.]

Remember the 3rd-day Surge patterns exhibited by several Canadian Cannabis issues? A couple of them (OGRMF, TWMJF) had legs — an extra leg, to be precise. The line in the sand drawn at their initial high was exceeded, signaling a substantial extension underway. In fact, the extensions were very substantial, relatively similar to their already substantial initial surges.

The effect seems to have been isolated to this group. But that’s not to say it can’t be duplicated, at least imitated, elsewhere in the sector. The sudden repricing of multiple issues is not due to an original misunderstanding. Valuations don’t change that rapidly across the board.

So, while monitoring as usual for signs of strength, there’s a a little extra reason to consider acting sooner and holding longer — and that’s because enthusiasm can be contagious.

Marijuana Stock Universe for November 9, 2015
Reference this table during stock reactions
4-week	# up:	11	11.00%
trends*	# flat:	19	19.00%
	# down:	70	70.00%
*The percentages of stocks rising or falling over 4 weeks.

symbol	support	resistance	4-week trend
ACGX	0.000	0.003	down
AERO	1.000	1.950	down
AGTK	0.000	0.004	down
AMMJ	0.070	0.150	down
ARNA	1.650	2.200	down
ATTBF	0.035	0.075	flat
BLOZF	0.130	0.240	down
BLPG	0.015	0.086	down
BRDT	0.012	0.031	down
BTFL	0.002	0.024	down
CAFS	0.001	0.011	down
CANL	0.440	0.740	down
CANN	0.600	1.330	flat
CANV	0.795	1.160	flat
CARA	14.250	18.870	down
CBDS	0.510	1.850	down
CBGI	0.000	0.005	down
CBIS	0.020	0.041	flat
CGRW	0.360	0.610	flat
CHUM	n/a	n/a	down
CNAB	0.300	0.590	down
DEWM	0.001	0.003	down
DIGP	0.170	0.400	down
DSCR	0.000	0.025	down
EAPH	0.005	0.013	down
EDXC	0.007	0.019	down
ENCC	n/a	n/a	down
ENDO	0.006	0.018	down
ENRT	0.012	0.026	down
ERBB	0.002	0.004	flat
ETST	n/a	n/a	flat
EXMT	0.000	0.004	up
FITX	0.004	0.078	up
FSPM	0.000	0.250	down
FULL	3.130	3.390	up
FWDG	0.000	0.002	down
GBLX	0.270	0.460	flat
GRCU	0.000	0.004	flat
GRNH	0.023	0.067	flat
GWPH	71.600	86.400	down
HEMP	0.050	0.107	down
ICBU	0.000	0.003	down
IGRW	0.000	0.002	down
IMLFF	0.100	0.180	down
INCC	0.000	0.002	down
INSY	21.250	27.350	down
ITNS	0.001	0.005	down
KAYS	0.067	0.187	flat
LATF	0.000	0.001	down
LXRP	0.140	0.205	flat
MCIG	0.017	0.030	down
MDBX	0.062	0.150	down
MDCN	0.000	0.001	down
MDRM	0.008	0.025	down
MINE	0.000	0.002	down
MJMD	0.000	0.015	down
MJMJ	0.000	0.001	down
MJNA	0.036	0.048	up
MNTR	0.310	0.620	down
MSRT	1.410	1.880	flat
MYEC	0.014	0.021	up
MYHI	0.013	0.100	down
NDEV	0.016	0.053	down
NMUS	0.218	1.215	down
NRTI	0.000	0.002	down
NTRR	1.200	2.100	flat
OGRMF	0.510	0.920	up
OSLH	0.000	0.001	down
OXIS	0.009	0.019	down
PHOT	0.010	0.030	down
PLPL	0.053	0.121	down
PMCB	0.095	0.115	flat
PNTV	0.001	0.007	down
PZOO	0.001	0.005	down
QEDN	0.000	0.003	down
REDG	0.000	0.003	down
RFMK	0.000	0.002	down
RMHB (thcz)	0.075	0.013	flat
RSSFF	0.030	0.100	down
SING	0.005	0.012	down
SKTO	0.000	0.004	down
SPRWF	0.180	0.230	up
SRNA	0.100	0.185	flat
STEV	0.038	0.055	down
TAUG	0.003	0.005	down
TRTC	0.120	0.150	up
TURV	0.463	0.770	down
TWMJF	1.910	2.200	up
UPOT	0.040	0.125	down
USEI	0.000	0.003	down
VAPE	0.001	0.038	down
VAPR	0.000	0.050	down
VGPR	0.000	0.002	down
VHUB	0.025	0.048	up
VPCO	0.170	0.550	down
VPOR	0.000	0.001	down
WDHR	0.000	0.002	down
WOGI	0.005	0.013	flat
XTRM	0.001	0.004	flat
XXII	1.300	1.850	up

Posted in Bigger Picture

17 Comments

fennecby on November 8, 2015 - 3:44 am at 3:44 am

thanks for that.
copying from a previous thread:

BTX – how dangerous is this constant overlapping of previous highs? Sitting at my cost basis now and wondering whether risk-reward has changed.
fennecby on November 8, 2015 - 5:01 am at 5:01 am

oh, and one more: MYL looks pretty interesting here, no? Negative divergence on new low, now with a new high, back down to support coinciding with a 38.2% correction from the low, ready to launch a meaningful upleg?
- Rod David on November 9, 2015 - 5:59 am at 5:59 am
  
  MYL — The probe of fresh lows last month was accompanied by RSIs diverging positively, preceded by contracting volume that expanded into and out of the probe that was retraced entirely. Now probing above the interim consolidation and needing to hold 42.50 to maintain the reversal attempt.
  - fennecby on November 9, 2015 - 7:30 am at 7:30 am
    
    thanks!
    and BTX?
    - Rod David on November 9, 2015 - 12:11 pm at 12:11 pm
      
      BTX — Sorry, didn’t see that… How dangerous is the constant overlapping of lower prior highs as support? It’s dangerous. It at least suggests a rally will need to start from lower like 3.15, if fresh highs above 4.20 aren’t recovered soon.
      - fennecby on November 9, 2015 - 1:56 pm at 1:56 pm
        
        noted, thanks.
casjf on November 10, 2015 - 12:52 pm at 12:52 pm

AMSG – Getting to resistance again. Is this a chart that looks like it’s going higher?
- Rod David on November 10, 2015 - 12:59 pm at 12:59 pm
  
  AMSG — It doesn’t look like a the stock wants to decline, at least without probing new highs.
joe on November 11, 2015 - 7:25 am at 7:25 am

Good Morning Rod….CARA….Bounced as high as $18.12 & closed at $17.25 yesterday on earnings report, so are we still in an uptrend or is the bounce over?
- Rod David on November 11, 2015 - 9:47 am at 9:47 am
  
  CARA — Not closing above 17.75 after probing it does undermine the bounce’s strength. That was the minimum objective and its attraction now neutralized. Closing today above yesterday’s high would give the upside more momentum.
guanito on November 11, 2015 - 9:28 am at 9:28 am

Yes – nice call on CARA Rod.
Josey on November 11, 2015 - 1:03 pm at 1:03 pm

Hi Rod, Is ECIG required to retest .38 + due to the oversold RSI? TY
- Rod David on November 11, 2015 - 2:20 pm at 2:20 pm
  
  ECIG — I wasn’t monitoring at the time, but I assume that’s a reaction to earnings? That makes the overbought RSI a product of weak-handed knee-jerk reaction. That does not require a retest. If it were ongoing trending that took RSIs (both 1-minute and 3-minute) overbought or oversold, then pretty much all available STRONG handed sponsorship would have been behind that move, making the reaction WEAK handed and due to be retraced.
casjf on November 11, 2015 - 1:28 pm at 1:28 pm

KMI – Now at 24.31, below the 24.70 that was the even lower support. I’m assuming no bottom-fishing, correct? Or is this a good place to buy? What could be the potential bounce if so?
- Rod David on November 11, 2015 - 2:22 pm at 2:22 pm
  
  KMI — Right, still a falling knife, no accumulation. That said, the nearest point for a temporary bounce to begin could be 23.70 to 26.45.
Adrian Avant on November 11, 2015 - 9:10 pm at 9:10 pm

Hey Rod. What are your thoughts on PFE? Do you think that the feb – aug timeframe was a topping/distributive pattern? Do you consider the price action since Oct 28th to be a descending triangle? If not/so what are your targets, if any?
- Rod David on November 12, 2015 - 9:51 am at 9:51 am
  
  PFE — The late-August reaction down confirms the preceding action was topping. The question is whether that reaction down fulfilled it. I don’t see the price action since 10/28 as distinguished from the uptrending that preceded it. I wouldn’t get bearish again within this range, not without first probing new highs above 36.50, or else closing back under 30.50.