The Universe, week of Sep 21 2015… Testing defenses.
[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.]
This week’s changes to The Universe were largely unremarkable. If there were one exception, it would be that several issues did merit lowering their supports. But the majority of those were teetering already from previous weeks. Generally, the mix didn’t change. So, there doesn’t seem to be any residual skittishness from the broader market’s recent plunge.
We should know almost immediately this week whether the broader market’s week-ending decline has begun the next — and, I think, inevitable — downleg. Retesting last week’s highs, first, wouldn’t be surprising. If the latter scenario were to develop, then several Cannabis stocks can have an easier environment to exploit their interesting charts: CANN, MDBX, SPRWF, TAUG.
| Marijuana Stock Universe for September 21, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 7 | 6.93% |
| trends* | # flat: | 15 | 14.85% |
| # 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 | 1.000 | 1.950 | down |
| AGTK | 0.000 | 0.009 | down |
| AMMJ | 0.070 | 0.182 | down |
| ARNA | 2.410 | 3.320 | down |
| ATTBF | 0.035 | 0.075 | down |
| AVTC | 0.000 | 0.400 | down |
| BLOZF | 0.130 | 0.340 | down |
| BLPG | 0.015 | 0.086 | down |
| BRDT | 0.012 | 0.048 | down |
| BTFL | 0.071 | 0.232 | down |
| CAFS | 0.001 | 0.011 | down |
| CANL | 0.059 | 0.900 | down |
| CANN | 0.330 | 1.160 | flat |
| CANV | 0.570 | 1.340 | down |
| CARA | 18.300 | 23.550 | flat |
| CBDS | 1.630 | 2.660 | flat |
| 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 | 0.320 | 0.750 | 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 | 0.019 | 0.047 | down |
| ENCC | n/a | n/a | down |
| ENDO | 0.006 | 0.018 | down |
| ENRT | 0.017 | 0.037 | down |
| ERBB | 0.002 | 0.004 | flat |
| 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 | flat |
| GRNH | 0.023 | 0.067 | down |
| GWPH | 101.550 | 132.000 | down |
| HEMPD | 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 | 30.780 | 39.600 | down |
| ITNS | 0.001 | 0.005 | down |
| KAYS | 0.067 | 0.187 | flat |
| LATF | 0.000 | 0.001 | down |
| LXRP | 0.098 | 0.205 | up |
| MCIG | 0.023 | 0.052 | down |
| MDBX | 0.122 | 0.181 | up |
| MDCN | 0.000 | 0.001 | down |
| MDRM | 0.016 | 0.051 | flat |
| MINE | 0.000 | 0.002 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.000 | 0.001 | down |
| MJNA | 0.031 | 0.042 | down |
| MNTR | 0.310 | 0.620 | down |
| MSRT | 1.650 | 2.290 | up |
| MYEC | 0.010 | 0.015 | down |
| MYHI | 0.013 | 0.188 | down |
| NDEV | 0.016 | 0.053 | down |
| NMUS | 0.620 | 1.600 | down |
| NRTI | 0.000 | 0.002 | down |
| NTRR | 0.022 | 0.046 | flat |
| OGRMF | 0.208 | 0.337 | down |
| OSLH | 0.000 | 0.001 | down |
| OXIS | 0.015 | 0.027 | down |
| PHOT | 0.010 | 0.030 | down |
| PLPL | 0.109 | 0.177 | down |
| PMCB | 0.080 | 0.129 | down |
| PNTV | 0.001 | 0.007 | down |
| PZOO | 0.004 | 0.008 | 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 | down |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.082 | 0.165 | down |
| SRNA | 0.100 | 0.185 | up |
| STEV | 0.049 | 0.072 | flat |
| TAUG | 0.000 | 0.005 | down |
| THCZ | 0.051 | 0.013 | down |
| TRTC | 0.100 | 0.165 | flat |
| TURV | 0.630 | 0.89 | down |
| TWMJF | 1.240 | 1.490 | down |
| UPOT | 0.080 | 0.270 | down |
| USEI | 0.000 | 0.003 | down |
| VAPE | 0.088 | 0.275 | down |
| VAPR | 0.000 | 0.050 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.040 | 0.059 | up |
| VPCO | 0.400 | 0.840 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.005 | 0.013 | flat |
| XTRM | 0.001 | 0.004 | down |
| XXII | 0.085 | 1.100 | up |
Hi Rod, Thoughts on catching IMGN here @ 13.00. The RSI 1 and 3 min. are diverging. Quick trade ? TY
The rally effort’s failure all but requires probing the base that had launched it, which means something under 12 is likely to print
Hey Rod,
Hope you had a great weekend. Do you see a bottom forming on WLL? Bullish Ascending Triangle?
Thank you!
WLL – The price action resembles an Ascending Triangle, complete with declining volume as the pattern formed. But its resistance overlaps a consolidation that had developed during the decline in the first week of August. That has to be considered part of the pattern, if there is actually a pattern. Instead, at this stage, it’s still an ongoing series of lower lows and lower highs, i.e. a downtrend.
signs of bottoming on AERO?
and note that TWD.v changes its ticker tomorrow to CGC (Canopy Growth Company).
don’t know about TWMJF.
AERO — Ranging around 1.48-1.50, which had been the decline’s next lower target, instead of sliding through it does undermine sellers, but that still doesn’t equate to being a buy signal
Thanks on Tweed, we’ll watch for any effects
Hi Rod, All,
Where are the Chartroom items posted? The ones from recent email alerts.
Also, VAPE, high volume on the heals of some rough financing. I assume no reason to enter but will the finaciers prolong and extend any bottoming?
The programmer finally added the ability to view all comments under each post on the same page that lists all posts — rather than having to click-through to the post to see its comments. I’m told that before tomorrow’s open we’ll also be able to post new comments under each post in the combined post page.
VAPE — I don’t analyze the corporate side, but I’m closely monitoring price action now that the .09 is being probed
got it re AERO.
so what’s the next step / secret ingredient to be looking for?
AERO — There’s nothing compelling about the pattern, not when new lows “die on the vine” instead of attracting new interest that makes price action more volatile.
thanks (ooh, threads! nice).
How does ADSK look to you here?
ADSK — Its biggest challenge right now is in recovering 49.50. Anything under that is more in-line with a pennant pattern that is waiting to resolve down and resume its recent decline
Morning Rod.
After Friday’s capitulation (?) and another huge volume day Monday, a 4 million stock block was bought yesterday on WYY towards the end of the day. Seems some serious defense is being played at these levels. If this indeed triggers even a temporary bounce, where would you expect it to falter? Around 0.98 (previous bottom’s low)?
WYY — A very favorable technical configuration appeared yesterday, when its post-open sell-off tested the consolidation from Friday’s lows. That allowed comparison of their respective RSIs, which diverged positively. Price action since then hasn’t disagreed, and also firmed into the close. Now extending higher at this morning’s open can get a benefit of the doubt for at least launching a corrective bounce targeting 1.10-1.15.
got it. thanks.
Hi Rod, do you have any support/resistance parameters for VLKAY. I’m averaged in at 28 at the moment and trying to figure out a sell target.
VLKAY — 31 is tough resistance for awhile. It should be probed eventually to at least fill the gap back up to higher prior lows at 36. But the first attempt at it should be knocked back down.