Shared by
Marius
- Overall Market shorter-term bounce anticipation. Market news/reaction possibly digested and at key levels. Note : further downside risk if bounce is shallow or fails.
- Caution notable multiple markets failed breakout above January highs
- D-RVOL slightly rising over the past couple days 0.96 (RVOL > 2 is notable)
- ATR 0.65
- Volume into close was increasing breaking multiple resistances
- Tape action "fight for price" into close showed bullish signs (strong bid support & buying into asks) *need more analysis work here
- Price trended notably bullish above intra-day VWAP
- Weekly & Daily candle closing at high w/ no profit taking wick. Slightly elevated volume
- ACB next resistance 13.75 (13.71 at last close)
- Overall Cannabis sector showing recovery / strength
- CGC (market leader) showed AH strength
- No new significant news catalyst or fundamental announcement/change. (bullish news article over the weekend about growth, market cap, & company portfolio "Aurora had invested about CA$327 million in building up its portfolio of cannabis-related companies as of June 30, 2018. But due to early success and rising interest among investors, the fair market value of Aurora's stakes in those companies had soared to CA$699 million. That represents an unrealized gain of CA$372 million."
- ACB has shown in the recent past of gap ups into new weeks. More recent Monday was a Canadian Holiday which needed "shares syncing" upon resuming. Normally would have swing but needed to factor that extra uncertainty along with market. It is a much better play this week
- Canada recreational date in 2 trading days
- ~10% to ATH's
- Net House showing bullish institutional buying
- TCG team sentiment favor buying
- THIS IS A WORKING EDGE. (need to smash it but next time scale it better and wait for more confirmation or scale lower from a pull-in... if not and it works against the plan, take the pre-determined loss but stay in the game)
- Closed Trade Review
- Very strong open for Canadian Sector. Overall markets still in hourly EQ trying to recover
- CGC is another potential for a ATH breakout
- Follow-through & dip buying is notable
- Canadian recreational sale date in 1 trading day
- Looking for pull-in and consolidation under ATH's
- Updated 2018-10-15 09:56:02
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-10-12 12:00:00 | ACBFF | buy | $10.500 | long |
| 2018-10-12 12:00:00 | ACBFF | buy | $10.510 | long |
| 2018-10-15 12:00:00 | ACBFF | sell | $10.810 | long |
| 2018-10-15 12:00:00 | ACBFF | sell | $10.840 | long |
| 2018-10-15 12:00:00 | ACBFF | sell | $10.840 | 0 |
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