Charts of the Day

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ACB, APHA, CGC, CRON, OGRMF, TGODF — Stock Charts to Watch

Charts of the Day video for Monday January 28th, 2019

ACB, APHA, CGC, CRON, OGRMF, TGODF

I have to say, that despite the weak day on Wall Street, we certainly had a good trading day. A lot of stocks continue to move, despite the pullback in the market. That’s a good sign we’re in the right stocks and stocks that have relative strength. Marijuana stocks have exploded, and the net worth cumulatively has increased to a 50-million-dollar industry, potentially. Here, we are going to take a look at some of the marijuana stocks that were favored by the market on Monday.

Aurora Cannabis Inc. (ACB) popped 38 cents, or 5.65%, to 7.10, on 27.6 million shares. Recently, it was in a 5-wave decline for a retest, turned back up again, broke out, pulled back, retested at the breakout point, and moving averages crossed over. This looks very good and should probably be a swing. There is resistance between 7 1/2 and 8. If it gets through that, targets are 9, 11, and 12 1/2. I think it might get there based on the angle of ascent. I’m seeing right now that it could ramp up immediately towards 9 1/2.

Aphria Inc. (APHA) is in a rising mode, and on Monday it was up another 21 cents, or 3%, to 7.37, on 5.95 million shares. This stock is now above the moving averages, and the 50-day has been crossed officially on Friday and on Monday. I’m looking for this to fill the gap and make a move to over 7 1/2. My targets are 9 1/2 and 10 1/2.

Canopy Growth Corporation (CGC) is one of our favorites. On Monday, it jumped 2.29, or 5%, to 50.77, on 17.7 million shares. This stock is doing great. You can see the explosive-type move and a four-day flag. I think it’s going to go right up to 57-58-59, and maybe 60. It has great momentum and huge volume.

Cronos Group Inc. (CRON) exploded for 2.46, or 15%, to a new all-time high at 18.48, on 36 million shares, and is leading the pack right now. That’s huge volume for this stock. The trend looks like it could extend up towards 22-23.

OrganiGram Holdings Inc. (OGRMF), which we traded on Monday, gained 81 cents, or 18%, to 5.31, on 2 million shares. That’s about four times the usual volume. Take a look at the pattern as it just broke out on Monday. It popped nicely and sharply through the flag that formed and got up to resistance at the highest close since mid-October. I think it may have a shot now to move up to the 6.35-6.50 zone. Beyond that, we’re looking at 7 1/2 as the next target.

The Green Organic Dutchman Holdings Ltd. (TGODF) increased 20 cents, or 7%, to 3.01, on 2.5 million shares on Monday. It plowed back up across resistance, and has taken out the large declining topsline, which looks like a large falling wedge, popped out through the moving average and flag, retested, and broke out above resistance. Now, I’m looking for a move to 3.89-3.90.

Stocks on the long side included Aurora Cannabis Inc. (ACB), Aphria Inc. (APHA), Canopy Growth Corporation (CGC), Cronos Group Inc. (CRON), OrganiGram Holdings Inc. (OGRMF), The Green Organic Dutchman Holdings Ltd. (TGODF), Attunity Ltd. (ATTU), AngloGold Ashanti Limited (AU), Kirkland Lake Gold Ltd. (KL), AudioCodes Ltd. (AUDC), Catasys, Inc. (CATS), CommScope Holding Company, Inc. (COMM), Canadian Solar Inc. (CSIQ), First Solar, Inc. (FSLR), Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG), Direxion Daily Gold Miners Bull 3X ETF (NUGT), ETFMG Alternative Harvest ETF (MJ), New Age Beverages Corporation (NBEV), Overstock.com, Inc. (OSTK), Roku, Inc. (ROKU), Veritone, Inc. (VERI), and Youngevity International, Inc. (YGYI).




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