Good morning
Canadian Cannabis stocks continue to rip higher and we all know how likely this will ultimately end badly but that doesn't mean there aren't short term opportunities to trade. Just make sure you play them size appropriate and make sure you have a decent setup with a trade plan that you will be disciplined enough to follow. TLRY is breaking over the 200 dolla holla and GCG was given a 95 dollar price target. Keep an eye on some of the sympathy plays but understand that when the bubble pops it will be swift and painful for the late chasers.
Equities are slightly lower in premarket along with the dollar and oil. Gold is up slightly.
Click here for the charts of the stocks below
$ACBFF 3rd largest Cannabis play in Canada has not really had the kind of move CGC and TLRY have could play catch up 7.50 8 entry could be ideal spots
$PDD potential support area for a bounce day trade opp 21.50-22 area could be entry area for a bounce
$KNDI held up well yesterday insider buys continue could be a higher risk swing or day trade opp with volume likely move in sympathy with NIO
$SMRT Gapping off new financing deal do not chase but could set up for a a day trade possibly short term swing
$ROSE trades super thin need volume to play it New CEO
ll Announces Recent Production Increase To Over 20,000 Net BOE Per Day worth watching if it gets some real volume potential day trade opp or higher risk swing.
$KDP More of a swing or long term hold play more insider buys in this area 22.50-23 range could be ideal entry area nice looking daily pays a dividend
$IDXG nice looking daily could get some follow through 1.351.50 range could be entry area for a red to green type play day trade or higher risk swing
$ATRS full disclosure took some yesterday looking for a potential run into their PDUFA event on the 29th of this month I will likely be out of all of it by the event date or hopefully lock some profit and hold just a pinch through the event
$NBEV Gapping could get crazy with the other cannabis plays tiny float and short active there 2.80 -3 area could be ideal for entry red to green type play
$CRON flirting with a 13 test in premarket 10.50-11.50 area could be ideal for an entry red to green type move day trade or higher risk swing if it closes over 13 would be in blue sky area
$IQ they have a lock up expiration this week but the China names have been pretty beaten up already could be a high risk swing consideration or day trade opp with volume if it breaks below 24.89 may need more time. could pull back to the 20 area which would be a consideration for me as a long term hold entry area
