Constellation Brands $STZ plan to invest an additional $4 billion in Canadian pot producer $CGC (stake up to 38%) put all the Cannabis stocks in play for the week and possibly for the next few months just like Bitcoin did for certain “bitcoin” stocks last year. Some of these stocks made a huge move in the last week and should not chase them, allow them to set-up properly before you step in. A lot of the names trade on the pink sheets, so you have to be real careful or avoid them, some of the more liquid known names are; $CRON, $TLRY, $CGC, $APHQF, $MJ–ETF, $STZ, $SMG, $IIPR, $ACBFF.
THE STORY OF CANNABIS AND WHAT INVESTORS NEED TO KNOW.–-VisualCapitalist
New Highs In August, good or bad?
$KPTI a decent trade-idea brought to me by @daveallen28 and here are my thoughts; The set-up looks good, $KPTI printed an inside day, the moving averages are hugging, I love that, it typically means a big move is coming. For me and only for me on Monday, my buy-stop would be at $18.39 with a stop at $17.80, and I would add if breaks $18.40 and 18.50 and then raise my stop accordingly maybe to the low of the day on some of the shares while leaving some at the original stop.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.