Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Even if a 10% rise DID affect the stock, it would drop it by a penny and a half.
Again, NOT going to happen, any dilution is already priced in.. by the fact that it's already occurred.
Gomez, a 10% rise in O/S won't do crap to this stock.
oh man, it's bad when you have to breakout stockta.com to prove the point. But ya, that does make it nice and clear and mathmatically definitive. There's just no interpretation there.
Hell I don't know how you could look at this chart and see anything negative.
Now, as we know anything can change in a day. Stock charts can give predictive probability but really anything can always happen. When levels are broken the picture changes, not until.
he's right. Anyone who was watching Level II on that day knows it.
There was one ultra-small order traded that day for that low
Gomez, if it 'has already doubled' then it doesn't matter. Selling presure would already be there. What's done is done, price channel and bulltrend in tact.
Therefore even if they diluted they raised capital and got the market to absorb it.
Same thing with U.S. currency, dilution is fine as long as growth is there to absorb it. That was what drove the whole 80's till now. But let's not get on that tangent cause that could get realy complicated :)
doesn't CBIS also run a dispensary type operation? I'm not quite familar with what they are doing with that, but that was my understanding.
raising the A/S just gives them the viability to raise capital and makes there business look more viable. As long as O/S is not excessive and the money raised goes towards growth and returns back as income then it is money well spent.
You have no idea what the O/S will be and are just sepculating. IMHO if the O/S was raised much significantly thene we would not have raised and held in a bullish formation.
controlled dilution can be a good thing as long as it's not excessive.
the 200MA is important but there are other leading indicators that occur before the 200MA breaks. Like the actual downtrend line itself. Hence the word "UP TREND" and "DOWN TREND". 200MA's do not usually break in one pass. The stock bounced once off of the 200MA and is now base building and consolidating to take another attack at the weekly 200MA.
To me the Ickimoku Cloud, trend line and MACD together paint a much better picture then the 200MA all by itself.
Weekly chart.
Major downtrend line broken a while ago. Closing over ickimoku cloud (best indicator yet). Macd over the 0 line. What makes you think it's in a weekly downtrend line.
And yes a failed cup and handle could be a double top but so far chart is living up to all expectations of cup and handle. If key levels break then I would exit.
http://stockcharts.com/h-sc/ui?s=CBIS&p=W&yr=3&mn=0&dy=0&id=p18788013115&a=263199961&listNum=1
What are u talking about. I know it went to .24,. I'm holding my regional position plus some I added
Very nice chart but I think you missed a couple important things in your analysis.
First, notice the most important thing. The major uptrend line on the daily (and weekly) charts is still in tact. In fact it is trading very close to major support and following the trend line up. Where will price be in 1month if this continues. Follow the line and it will be somewhere between this lower support line and resistance.. Over .25 or so and maybe much higher.
Second, while the chart may appear mixed to you when looking at MACDand stochastics, this resetting action is totally NORMAL for a cup and handle consolidation, which is very evident on the daily chat. The smaller time frames are also starting to make mini cup and handles, something which also occurs normally and lends to confirmation.
Third, what you call negative divergence isn't correct because price in the first wave was at .24 not .18, therefore on the last run to .18, price was lower and so was the indicator. No divergence.
Quite a bit of volume was sold at the .20 to .24 range so you can not discount it. On the other hand as others have pointed out 100 shares at .05 should be thrown out. .08 was mthe real low.
You are right that the flash down from .24 was an intraday or daily sell signal, but wrong about it indicating any sort of longer term bearish picture. A great signal if you are looking to swing for a few days but uptrend is still perfectly in tact. No doubt about that as indicated by the only thing that really proves this... The major support trend line as indicated in my first point.
I predict some sideways consolidation between .14 to .18 until we get a cup and handle breakout.
For brew traders you can safely take a position here, support is in the .13 to .14 range. I'd probably have a stop at under .115 just to prevent getting flashed out. Currently I have no stop in place and I watch the price and volume daily.
50k shares at .03 average
question. When does the 10K come out again? I think I saw some posts on here saying Monday, but is that official?
Personally I'm expecting modest income growth, and only small change in debt or O/S.
is 51K in shares enough?
This is a totally stupid question since everyone's financial position and money management is different but what is the 'right' about of shares to own? Currently I have 51K. I'd like to make $100,000 on CBIS, more of course if it hits a home run all the way through FDA approval.
I'm expecting a share price of anywhere between .80 - $2.00 by November.
What does everyone else think?
Should I continue to add; or just try to swing trade and increase position between now and Nov?
Gomez, the chart did NOT say that we would be at .60 by this week. I told you that over and over again. The chart said we would consolidate exactly where we are now, after a cup and handle breakout. The handle is almost over with. THen comes the cup breakout and .24 - .30 range. Then possibily striaght to .40 or maybe some consolidation and then to .40 and then to .60.
It doesn't happen in one day!
No chartist would say that.
Ya I'm actually quite excited and entertained that Angelina Jolie said anything about it at all. Definitely good press :)
CBIS TO END WORLD HUNGER!!
Newmedman,
Thank's for the excellent write up. I'm actually familiar with nearly all of the information but you presented it very well and good for the board. I spend a great deal of time studying physiology, nutrition, metabolic pathways and etc.
One question though. Will GLA activate the sodium-potassium pump without adequate potassium in the system. Because just as the Standard American Diet has the improper omega3/omega6 ratio, it also has an imbalanced sodium/potassium ratio. Interesting though that a quick google shows that hemp seed is very rich in potassium also so maybe that lends synergy to the equation.
Second,
Isn't dietary hemp already legal for things like protein and omega supplements? I'm pretty sure I've bought hemp protein bars and stuff before.
I guess I can answer my own question in that if cannabis becomes main stream it will increase accessibility and lower price.
Thanks again for the great write-up.
Chart:
CBIS is really a great company to learn how to read charts. Even if you have missed the run or made some mistakes, learning from this chart will give you a lifetime of better trading.
Draw the major trend-line. Watch what the Stochastics, MACD and CCI do on the chart. Watch the patterns, currently cup & handle.
Notice that right now it is towards the end of the handle pattern and testing support. The same support that got tested at .01, .03, .05, .115, the handle is condensing and consolidating into this .13 area.
Amateur charters might look at the MACD and other things and think that this looks bearish. When I first started trading I fell into this group. If you currently fall into this camp, spend some time to Google positive and negative divergence. No divergence + cup & handle = very high probability of a strong breakout over the cup and will take it easily to +.24.
You can either buy the handle now at support, or if you are a more conservative trader and want less risk (but less gain), you can put a buy stop over .18.
Personally I think .13 is the better trade now since it's at a major support.
News: Good update but confused about one thing...
"
In addition to the 3,500 viewers who showed up for tickets, the movie has caught the attention of celebrities such as Angelina Jolie. Miller has "tweeted with Angelina Jolie, who saw the clips, and says she hopes it will end world hunger."
"
What is Angelina Jolie talking about?
How is CBIS or any cannabis movement going to help end world hunger. Treating cancer and diesese is one thing. Cannabis makes you want to eat but that is not going to end world hunger.
Did I miss something?
Yep,and technically if it gaps away from it's closing price but is still within the high-low range of the previous candle then it's only considered a 'partial gap'.
Depending on the size of the partial gap and the volume dictate whether that is likely to be filled.
Where are all the people who think CBIS is a gapper that needs to be filled all the time.
A gap is when the stock moves up or down beyond the range of the previous candle without touching the high or low of that last candle.
Gaps most often occur on daily charts, but they can technically happen on any timeframe.
For example, a stock may gap up in the morning at the open. Most often, although not always, the gap will get filled, and sellers will immediately take profit and the price will fall back and test the previous days high.
A gap is NOT when a stock makes a continous fluid movement and then has a retracement. That is called consolidation and can take the form of retracement or flagging.
Retracement usually happens at fib levels of 38.2%, 50% or 61.8% of the previous leg.
Flagging is a type of consolidation and can sometimes represent the first fib level of 38.2% but can also be shallower then that if it's a strong stock with lots of volume.
consolidation, building a new base.
That isn't called 'filling the gap', that's called consolidation or flagging.
People on this board don't know what a gap is. I keep hearing about how CBIS 'gaps up'. It hasn't gapped up even once yet. Just steady runs.
California and several other states are running MMJ initiatives this year. There are at least 18 pending legislation and ballot initiatives.
http://medicalmarijuana.procon.org/view.resource.php?resourceID=002481
California and several other states are running MMJ initiatives this year. There are at least 18 pending legislation and ballot initiatives.
http://medicalmarijuana.procon.org/view.resource.php?resourceID=002481
chart is looking excellent. moving just as predicted and indicated by chart. Making fresh cloud breakouts on 15,30,60; pushing daily levels now.
Yesterday tested the major resistance line again .085, .10, .115. Those are the major tested supports. held every time. I almost wish I took that swing trade; oh well its over now.
good luck to all the ones who held through that dip. trust the chart.
To all:
price action was pretty good for support today, at a key area now and it's finding the support we'd expect.
To all the newbies out there; the chart did NOT fail yet. So far if anything today's action confirms support at the major trendline, fib levels and cup and handle formation. It's all within the mathmatical expectations.
Someone asked me in PM how long it takes a handle to break out. Usually it's 10-20% the duration of the cup and not more then 25%. That should put it in the 2-5 day range if I'm not mistaken.
The daily chart DID NOT fail. It doesn't fail just because it didn't goto .60 this week. That was ridiculous in the first place.
Chart is retesting key support line. This will draw in new buyers.
Chart can run to .60 just not in one week. There was no reason to expect that.
Gotta break .18 and see .24 and .40 first. Then we can talk about .60-70.
Positive divergences are forming on the small time frames up to the 30 min chart.
ok, I actually saw the potential for a pullback to this area at the same time, when it was at the top of the cup. I just didn't take the swing trade cause of the potential for news this week. obviously it would have been a good trade.
charts trump the speculation on this one.
ya
cup and handle-volume is low, just like it should be for a handle
retesting the major support line
traders do not panic every time there is a pullback of less then 61.8% from the last wave. That's called CONSOLIDATION.
you maybe right.
Chart is still intact;
http://stockcharts.com/h-sc/ui?s=CBIS&p=D&b=5&g=0&id=p07591390222&a=262941379&listNum=1
You can see clear support in the .12-.13 range and quickly moving up to .14 support over the next day or so.
Pattern is cup and handle, we are in the handle portion now.
I don't know if you have a subscription to stockcharts.com to see the 10 min chart; but I will post my links here:
Weekly: - Clearly room to go much higher
http://stockcharts.com/h-sc/ui?s=CBIS&p=W&yr=3&mn=0&dy=0&id=p29025997751&a=263199961&listNum=1
Daily: - Same picture; tons of room to go higher
http://stockcharts.com/h-sc/ui?s=CBIS&p=D&b=5&g=0&id=p07591390222&a=262941379&listNum=1
10 Min: - Shows the chart resetting into support, at first looks like neg. div but chart quickly resets; horizontal consolidation ; hidden divergence; fresh pos. divergence forming.
http://stockcharts.com/h-sc/ui?s=CBIS&p=10&b=5&g=0&id=p95490207650&a=263468451&listNum=1
Plus, I would not call that pattern a H&S. did not complete the right shoulder.
MM games they trying to cap the spikes so thet can accumulates as much as they can under .17
this is just healthy side-ways consolidation. We all hoped Friday would be this massive day, but as someone pointed out, no-one has seen the documentary yet. It's coming out tonight. Those people will have all wekeend to think about buying and to tell their friends; buying starting monday and all week.
From a technicals standpoint this could consolidate down to .15 - .161 before a strong breakout. If I was just trading technicals i might take that and try to swing a penny or more; but with the momentum next week I won't risk it. plus the chart is holding up at current levels; sideways consolidation is indicative of a good breakout.
even a break over .17 would be a high probability set-up and a confirmation that it will break 17.33 and continue to > .20
worst case we flag down a little with the handle. But i'm expecting a steady train of buyers next week.
Doc, I suggest you do some research. It is NOT new that THC is a major ANTI-carcinogen. They have proven many times before with documented studies that THC can kill cancer cells.
This is NOT surprising. This is also why we've never seen a case of lung cancer attributed to pot smoke alone. This fact itself is astonishing, even to me, knowing what I know.
- If you don't believe me, take a few days and do some research.
CBIS is attempting to get the word out and move into FDA clinical trials. They are attempting to productize this and move it into clinical practice instead of academia. Double-blind clinical trails will happen in the FDA process. Don't you worry about that.
Another reason they may not release all of the details the biopsies, if you were a physician would you want your name associated with the cannabis industry. For all we know the FDA, DEA and American Medical Association would make their lives a mess.
They also hired an Executive Pharmacist from Walgreens. Someone of that high caliber would not work for a pump-and-dump. He's taking on a lot of risk even for a legitimate company just to be associated with this space.
I hope so. CBIS was very smart to create a non-controversial cash flow stream so that they can have revenues to support the difficult process of FDA Clinical trials and regulatory hurdles.
Don't talk about 'the likes of me'. How about what I actually said. I just told you like 3 times to stop harping about the stupid Biopsy. It's only one peace of the puzzle.
You are the one who posted for two weeks on here about how there was no biopsy.
I'm more excited about the documentary. And while I think tomorrow will be a great day, its only a small piece of it also. The trend is up, and it's continuing.
Forget people who said it would be .70 by end-of-week. I posted that that wouldn't happen this week. .70 and $1+ is coming, just not this week. Hell anything is possible and we could get a flcok of new investors tomorrow but its certainly not the most probable. More likely is that the investor-base will grow, tomorrow being only one more step.