EMA100 support holding still since 4/10 @.0569 although MACD Negative Convergence shows Bears are still in control. If EMA100 support breaks then look for good buying opportunity just over the SMA100 support level @.0477 unless significant news (licensing, etc) occurs.
This is not likely due to
(a) large quantity of formerly restricted stock entering the market
(b) construction completion time constraints and
(c) because much needed DINRA/SEC impact in the MJ sector overall.
Look for entry points at MACD crossover in combination with typically used confirmations.
IMO I believe this market price movement is more a correction sector wide (MJ). Bigger money is likely to stay out of the market until several key things happen including
(1) FINRA/SEC cleanup,
(2) formerly RS entering the market are absorbed enough to reduce significant dilution as it relates to market entry.
The market will eventually consolidate and this sector will then grow rapidly. For longs (like myself), I continue buying on dips and target SMA/EMA using GTC Limit orders. Even with licensing there will be lots of movement in pricing as market share/revenues, etc., replace more intrinsic valuations.
THIS MARKET IS NOT GOING AWAY!!!! It will experience many bumps along the way as it grows and pps will fluctuate widely as a result. Just getting a license does not mean ownership of marketshare, not to mention the impact of yet to be developed and much needed regulations industry wide.
Why is this sector here to stay? TAX REVENUES and INDUSTRY CONTROL to protect those revenues and the market. Tax revenues are badly needed to support social programs in both the USA and Canada. The model for regulations and controls being implemented by Canada, or one similar to it, will eventually be implemented in the USA and will come under the medicinal and hemp (product) banner.
Note to Mods.
A previous post I did based on charting was deleted. Probably because I made a comment on SS. Please note that SS is an integral component of market valuation and has potential for significant impact on pps depending on when shares are designed to enter the market and for what purpose. I believe this board generally tries to be objective and provides useful information to its readers. I welcome anyone on this board to check price action against charting and provide their input, this only helps investors such as you and me to hopefully preserve and grow our capital for future use.
Your comments are appreciated.
This is not likely due to
(a) large quantity of formerly restricted stock entering the market
(b) construction completion time constraints and
(c) because much needed DINRA/SEC impact in the MJ sector overall.
Look for entry points at MACD crossover in combination with typically used confirmations.
IMO I believe this market price movement is more a correction sector wide (MJ). Bigger money is likely to stay out of the market until several key things happen including
(1) FINRA/SEC cleanup,
(2) formerly RS entering the market are absorbed enough to reduce significant dilution as it relates to market entry.
The market will eventually consolidate and this sector will then grow rapidly. For longs (like myself), I continue buying on dips and target SMA/EMA using GTC Limit orders. Even with licensing there will be lots of movement in pricing as market share/revenues, etc., replace more intrinsic valuations.
THIS MARKET IS NOT GOING AWAY!!!! It will experience many bumps along the way as it grows and pps will fluctuate widely as a result. Just getting a license does not mean ownership of marketshare, not to mention the impact of yet to be developed and much needed regulations industry wide.
Why is this sector here to stay? TAX REVENUES and INDUSTRY CONTROL to protect those revenues and the market. Tax revenues are badly needed to support social programs in both the USA and Canada. The model for regulations and controls being implemented by Canada, or one similar to it, will eventually be implemented in the USA and will come under the medicinal and hemp (product) banner.
Note to Mods.
A previous post I did based on charting was deleted. Probably because I made a comment on SS. Please note that SS is an integral component of market valuation and has potential for significant impact on pps depending on when shares are designed to enter the market and for what purpose. I believe this board generally tries to be objective and provides useful information to its readers. I welcome anyone on this board to check price action against charting and provide their input, this only helps investors such as you and me to hopefully preserve and grow our capital for future use.
Your comments are appreciated.
