The Universe, week of March 21, 2016…
[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.]
Oops, they did it again. Last week, the percentage of stocks above their 4-week moving averages rose sharply to 17%. Also last week, a news event finally justified the paradigm shift.
GWPH doubled on positive results for its children’s seizure application. The stock immediately began pulling back into the week — ending the week at support that I noted during the Livestox session. That was a complete surprising, having trended down until the end. Stocks like ARNA, CNAB, ENDO, EXMT and RMHB at least seem to be telegraphing potential recoveries.
Can the freight train keep huffing down the tracks? I’m not seeing any signs that say differently, as we approach April 4’s two-year anniversary of the sector top. Just keep in mind the freight train has many cars, and that it’s not actually a train whose cars all move in the same direction together. Take a look at CANV which had doubled, but later plunged, to see what can happen.
| Marijuana Stock Universe for March 21, 2016 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 17 | 21.79% |
| trends* | # flat: | 33 | 42.31% |
| # down: | 28 | 35.90% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| AERO | 1.500 | 1.500 | flat |
| AGTK | 0.004 | 0.007 | flat |
| AMMJ | 0.085 | 0.160 | flat |
| ARNA | 1.520 | 1.970 | flat |
| ATTBF | 0.035 | 0.075 | flat |
| BLOZF | 0.160 | 0.220 | up |
| BLPG | 0.015 | 0.030 | flat |
| BRDT | 0.012 | 0.031 | flat |
| BTFL | 0.000 | 0.005 | down |
| CAFS | 0.001 | 0.004 | down |
| CANL | 0.053 | 0.290 | flat |
| CANN | 0.350 | 0.550 | down |
| CANV | 0.290 | 0.550 | flat |
| CARA | 2.750 | 5.900 | down |
| CBDS | 1.130 | 2.200 | up |
| CBIS | 0.005 | 0.017 | down |
| CGRW | 0.360 | 0.610 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.150 | 0.330 | flat |
| DEWM | 0.002 | 0.004 | up |
| DIGP | 0.120 | 0.220 | down |
| EAPH | 0.004 | 0.009 | up |
| EDXC | 0.017 | 0.032 | up |
| ENCC | n/a | n/a | flat |
| ENDO | 0.010 | 0.017 | up |
| ENRT | 0.005 | 0.014 | flat |
| ERBB | 0.001 | 0.003 | flat |
| ETST | n/a | n/a | down |
| EXMT | 0.000 | 0.004 | up |
| FITX | 0.001 | 0.004 | down |
| FULL | 2.050 | 2.520 | flat |
| GBLX | 0.175 | 0.280 | flat |
| GRNH | 0.009 | 0.029 | down |
| GWPH | 71.500 | 87.000 | up |
| HEMP | 0.036 | 0.070 | flat |
| IMLFF | 0.040 | 0.115 | 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 | down |
| MJMJ | 0.000 | 0.001 | flat |
| MJNA | 0.028 | 0.044 | down |
| MNTR | 0.320 | 0.550 | up |
| MSRT | 0.830 | 1.410 | flat |
| MYEC | 0.008 | 0.012 | 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 | down |
| 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 | 0.052 | 0.087 | down |
| STEV | 0.015 | 0.037 | down |
| TAUG | 0.001 | 0.004 | down |
| TRTC | 0.163 | 0.257 | up |
| TURV | 0.463 | 0.770 | flat |
| TWMJF | 1.800 | 2.400 | up |
| UPOT | 0.010 | 0.050 | down |
| VAPE | 0.003 | 0.023 | flat |
| 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 | 0.800 | 1.010 | down |