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IMO yes we will see a drop without some legislation. We are already seeing some momentum loss. What is keeping the price up at this point is anticipatory buying. While the Senate is sending signals that something is likely to come soon, we can only wait to see if they follow through.
We don't know if or when the senate will pass anything related to cannabis. It seems there is always some crisis looming that they have to deal with. One thing I think we all know is that if and when something does pass, it will drive this stock much higher. We have already seen the anticipatory results, which are muted compared to what will happen.
Always trying to find a correlation with whatever. So far, the chart activity has not convinced me that charts are providing any clarity as to where this particular stock is headed. So while most chartist on this board are reluctant to say what is going to happen to the stock, I thought it would be interesting to put out some data. Chartist seem to be reluctant to put out any clarity on future prices.
RSI is signaling overbought, but the other indicators are all pointing to a continuing uptrend. Do what you want, but I'm not trading this one. As some have found out we did not reach the top of our uptrend last week. I guess if you're a trader you got to do what you got to do.
I'm sorta liking this market right now. We hit 7 before the end of the week. Hurrah.
The Trulieve medical cannabis dispensary is gearing up to open this month at its new location in Evans, its fifth in the state. (GA)
IMO we close above 7 this week. I don't think we retrace to a much lower price during the next few weeks.
The chart indicators I'm following indicate a continued uptrend. The only negative is the overbought indicator at 79 which is offset by the other indicators. So I look for the close above 7 to happen very soon.
RSI is just below overbought. MACD is positive. Volume is up, although slowing some. We are $2 above the moving average envelope. News is coming pretty quickly.
IMO we'll see 7 pretty easy this month. Get ready.
Ready to go, let's get it done. Senate Banking Committee Chairman Sherrod Brown (D-OH) said a marijuana banking bill is among his “priorities” that he wants to advance “in the next six weeks.”
That could happen in two days. But not until there is some legislation moving and passed that allows Safe and rescheduling etc. I'm guessing your chart missed the move from the 3's to 6's since you didn't post anything.
What's happening ? RSI at 85 in overbought territory and MACD in buy territory. Stock way above 50 day moving average.
https://www.marijuanamoment.net/moving-marijuana-to-schedule-iii-could-have-sweeping-impacts-for-businesses-federal-employees-research-and-more/
I would expect some amount of sell off after the huge run up. We’ll see what the Senate comes up with when they return. I believe we see significant movement by the end of the year.
So much mis-information on this blog.
The last two days prove my point (News is King). You don’t get this kind of move just because it’s oversold. Charts are useless here. Power on.
I don’t tell anyone when to sell or buy. I’d say check the charts.
I don't think we see much divergence from the current price in a meaningful way until Sep. Maybe once the Senate gets back they will start floating some good news about Safe.
Just reposting this from this source. Questions answered. https://mjbizdaily.com/trulieve-cannabis-alleges-ex-cfo-wrongly-expensed-more-than-350000/
Not sure what drove the price today, but I'll take it. Maybe there is a chart somewhere that explains it, don't know. Or could it be tomorrow's earnings anticipation.
The not so FREE state of Florida and the useless Gov. Woke and obstructing voters is all he knows. He's a disaster and would be worse if elected president. I guess he hasn't figured out that older people are the biggest segment of users. If I had a business it wouldn't be moving to FL. https://www.marijuanamoment.net/desantis-approved-florida-law-bans-recreational-marijuana-ads-while-instituting-more-industry-worker-restrictions/
And they are trying to focus on one word "allows" . This shows they really don't have anything to argue. Leave it to a lawyer to find a word to argue. I can't imagine that TCNNF spent 38 million or whatever and they didn't look at all of these issues. DeSantis is going to lose.
Watching an interesting show on cannabis on CNN about seniors and cannabis. Don't think they intended to show a specific company, but they did show Trulieve products. Interesting.
OK Bill, pony up some cash to change the situation. https://www.marijuanamoment.net/bill-gates-tells-seth-rogen-he-smoked-marijuana-in-high-school-to-be-cool/
I got this information from a different board. I can't confirm or deny. "The former CFO's family very quickly determined that Tallahassee was not for them (they were from the W. Coast). Nothing concerning here. Call the company and they will confirm."
I do see a huge leap forward if we get some Fed intervention via Safe or/and rescheduling. The Free State of Florida (not) would be a good boost, but I see a way forward without it. It would suck to spend that much to get a petition on the ballot and not be able to get it on there. Over 1million Floridians signed the petition, but to the far right that doesn't mean anything. DeSantis is a huge loser, he doesn't have national appeal.
With the Senate out on break, we have little news to move the stock out of this range. Maybe the earnings report next week will at least help keep the stock in a little higher range until we get some positive news from the GOVT.
I'm liking the AMZN run up. Now if we could get TCNNF headed up on a sustained basis.
Florida’s attorney general is suggesting that voters are too stupid to understand that marijuana would remain federally illegal even if they approved a cannabis legalization initiative at the state’s ballot next year—and therefore they can’t be trusted to decipher the “monopolistic” policy implications of the reform. She is a nitwit. It says clearly in the petition that nothing would change marijuana from being federally illegal. And thank you Moody for your assumption that voters are stupid. No, those voting for Trump and DeSantis are stupid.
TALLAHASSEE, Fla., July 31, 2023 /CNW/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States, announced the relocation of a medical dispensary in Kissimmee, Fla. located at 2647 E. Irlo Bronson Memorial Hwy. The dispensary will be open 9AM – 8:30PM Monday through Saturday and 11AM – 8PM on Sunday.
Interesting article. Another positive move by the Govt.
Looks like we're locked into a range here until the senate resumes in Sep. I don't suspect the earnings report next week will have much effect on the positive side of things.