Marijuana Stocks Soar
MJNA - Weed stocks continue bring in liquidity & great price action as the money rotates between the different names. Im thinking that MJNA is the next to return back to highs, the stock has been consolidating at highs recently and today finally closed above the prior day high for 1st time since it topped out. Watch for a move above .37c tomorrow, if it gets that then I think the door opens up for a move back to highs. I am long MJNA overnight.
CBIS - Saw a nice gap & go today and I think tomorrow we will see more of the same. I took CBIS overnight again. There is gonna be resistance at .32c but I think if it gaps above that level we could see a squeeze up to next major resistance around .43c (view a 5yr chart to see it ). I am long CBIS overnight.
ERBB - Looking for a break above recent highs at .0193. This is another weed stock that has been hovering right under highs recently and today it saw a gap up but then spent the whole day consolidating at highs. Could see .03c as a magnet going into next week. Todays low is a key support level at .016
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