Livestock, December 30, 2014

Tuesday's Livestock reviewed quite a few Marijuana stocks, as many are currently or recently testing relevant levels or forming influential patterns.* We then reviewed the so-called January Effect stocks, which haven't had a chance to perform since the year-end rally has sucked the oxygen out of the room. Don't wait until the last-minute to request a chart analysis of any stock you're considering for sale to lock-in profit or loss for tax purposes.

*Marijuana stocks reviewed in this order:

STEV - Closing Wednesday above Tuesday's high would mark a bottom.

TAUG - Recent surge is Double-Topping, can't afford to hesitate extending.

TRTC - Vulnerable to another 20% (i.e. nickel) dump.

VAPE - Reviewed the definition of downtrend.

CARA - Perpetually on the verge of a breakout.

NLNK (I know, not a MJ stock) - Massive ascending triangle still forming.

MDBX - Nothing bullish about retracing almost to the low.

ERBB - Still forming a massive triple bottom.

DEWM - Fresh low prevents bottom-fishing.

ATTBF - Can't afford to hesitate rallying.

GBLX - Not distributive, but can only buy strength, not weakness.

FITX - Continuation triangles stopping optimistically preventing a bottom.

MCIG - Yesterday's surge hit and held resistance.

INSY - Still large potential for bullish resolution.

GWPH - 61.8% retracements continue to reflect distribution.

Posted to Stock Technical Trader on Dec 30, 2014 — 1:12 PM
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