The Universe, week of April 4, 2016… Happy Anniversary! (again)
[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.]
5… 5… 6… 8… 10… 10… 14… 17… 24… 32!!
That’s the weekly progression of the number of stocks trading above my 4-week rolling moving averages calculation. And, that’s right, the improvement kept up its pace.
So, are you thinking what I’m thinking? Correction!
Maybe. But maybe not so fast. Many of the stocks that have reversed from a “down” status to “up” have been the product of multi-session surges. And many of those have corrected already. Meanwhile, I’m having no difficulty finding more candidates to pop, as well. This week’s highlights are:
AMMJ was highlighted last week, too. Did you see its pop on Monday?
CANN‘s Rounding Bottom has become a Cup & Handle.
OGRMF has formed an Ascending Triangle.
OXIS fired a warning shot across the bow, and already corrected it.
SRNA reversed a warning shot fired in January, but has recovered.
TAUG is already popping.VAPE already popping, patiently avoiding a third-day surge top.
As for talk of a correction, it’s not misplaced. This is the two-year anniversary of the April 2014 top. The sector is too young to know whether this will be a seasonal thing. But it’s worth monitoring.
| Marijuana Stock Universe for April 4, 2016 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 32 | 40.51% |
| trends* | # flat: | 29 | 36.71% |
| # down: | 18 | 22.78% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| AERO | 1.600 | 2.270 | up |
| AGTK | 0.002 | 0.005 | down |
| AMMJ | 0.085 | 0.160 | flat |
| ARNA | 2.050 | 2.350 | up |
| ATTBF | 0.035 | 0.075 | flat |
| BLOZF | 0.160 | 0.220 | up |
| BLPG | 0.015 | 0.030 | flat |
| BRDT | 0.012 | 0.031 | up |
| BTFL | 0.000 | 0.005 | down |
| CAFS | 0.001 | 0.004 | down |
| CANL | 0.053 | 0.290 | flat |
| CANN | 0.548 | 0.937 | up |
| CANV | 0.290 | 0.550 | up |
| CARA | 5.450 | 7.700 | flat |
| CBDS | 1.850 | 3.000 | up |
| CBIS | 0.017 | 0.024 | up |
| CGRW | 0.760 | 0.920 | up |
| CHUM | n/a | n/a | down |
| CNAB | 0.317 | 0.590 | up |
| DEWM | 0.004 | 0.006 | up |
| DIGP | 0.215 | 0.290 | up |
| EAPH | 0.004 | 0.009 | up |
| EDXC | 0.025 | 0.042 | up |
| ENCC | n/a | n/a | up |
| ENDO | 0.012 | 0.012 | up |
| ENRT | 0.005 | 0.014 | flat |
| ERBB | 0.001 | 0.003 | flat |
| ETST | n/a | n/a | flat |
| EXMT | 0.000 | 0.004 | up |
| FITX | 0.001 | 0.004 | down |
| FULL | 2.400 | 2.800 | up |
| GBLX | 0.175 | 0.280 | flat |
| GRNH | 0.029 | 0.047 | up |
| GWPH | 71.500 | 87.000 | up |
| HEMP | 0.036 | 0.070 | up |
| IMLFF | 0.040 | 0.115 | down |
| INQD | n/a | n/a | flat |
| INSY | 14.950 | 21.250 | down |
| ITNS | 0.001 | 0.005 | flat |
| KAYS | 0.067 | 0.187 | down |
| LXRP | 0.100 | 0.220 | flat |
| MCIG | 0.029 | 0.052 | up |
| MDBX | 0.006 | 0.051 | down |
| MDRM | 0.040 | 0.108 | up |
| MINE | 0.019 | 0.040 | flat |
| MJMJ | 0.000 | 0.001 | flat |
| MJNA | 0.028 | 0.044 | flat |
| MNTR | 0.360 | 0.625 | up |
| MSRT | 0.830 | 1.410 | up |
| MYEC | 0.000 | 1.000 | down |
| MYHI | 0.013 | 0.100 | up |
| NMUS | 0.450 | 1.070 | flat |
| NTRR | 1.120 | 1.800 | flat |
| OGRMF | 0.435 | 0.630 | flat |
| OXIS | 0.200 | 1.640 | flat |
| PHOT | 0.020 | 0.040 | flat |
| PLPL | 0.063 | 0.108 | flat |
| PMCB | 0.043 | 0.074 | down |
| PNTV | 0.002 | 0.004 | up |
| PZOO | 0.000 | 0.002 | down |
| RMHB | 0.028 | 0.051 | flat |
| RSSFF | 0.030 | 0.100 | down |
| SING | 0.006 | 0.014 | flat |
| SPRWF | 0.225 | 0.375 | up |
| SRNA | 0.074 | 0.112 | flat |
| STEV | 0.015 | 0.037 | down |
| TAUG | 0.004 | 0.008 | up |
| TRTC | 0.250 | 0.351 | up |
| TURV | 0.463 | 0.770 | flat |
| TWMJF | 1.800 | 2.400 | flat |
| UPOT | 0.010 | 0.050 | flat |
| VAPE | 0.003 | 0.023 | up |
| VAPR | 0.000 | 0.020 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.025 | 0.048 | up |
| VPCO | 0.000 | 0.095 | down |
| WOGI | 0.001 | 0.004 | flat |
| XTRM | 0.001 | 0.004 | flat |
| XXII | 0.690 | 1.005 | down |