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Market Oracle FREE Newsletter

FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

2021 May Be A Good Year For The Cannabis / Marijuana Sector

Companies / Cannabis Jan 05, 2021 - 03:03 PM GMT

By: Chris_Vermeulen

Companies

Great progress in terms of legalization was made for the Cannabis/Marijuana sector in 2020 that will.  The 2020 elections resulted in a number of US states engaging in new Cannabis friendly policies and laws being approved by voters. This suggests a new rally in the Cannabis sector may be setting up in 2021 and beyond for traders. Our BAN – Best Asset Now – trading strategy is always looking out for the next sector to make a trade, and the Cannabis sector is certainly one we are keeping our eyes on! Make sure you sign up for my FREE webinar to find and trade the Best Assets Now just like me.


Weekly MJ Price Flag Setup

My research and I team believe the recent longer-term bottom in the MJ ETF, the Alternative Harvest ETF, suggests a broad bottom is setting up in the Cannabis/Marijuana sector.  If this bottom in the Cannabis sector continues to profit support for the entire sector, then we may see price appreciation across many individual Cannabis stocks over the next 12+ months.  Additionally, this price appreciation may prompt quite a bit of consolidation across the entire Cannabis/Marijuana sector.

The global use and demand for CBD & THC related products may continue to expand as medical and personal use expands across the US and into other nations.  We are still near the infancy of understanding the true medicinal benefits of this all-natural product.  A new upward price trend in this sector may prompt a global expansion/consolidation event where the Cannabis/Marijuana industry attempts to restructure into true global power companies.

Our research team is focused on the possibility that an early 2021 price decline in this sector may setup a broad sector bullish trend near March/April 2021 (or earlier).  We believe the process of this longer-term bottom setup will still require another attempt to consolidate near the MAGENTA support channel before a more substantial breakout will take place.  The current bottom setup is very similar to a Bullish Price Flag setup and we believe the next price low may be an area where real opportunity exists for a final bottom in price.

Monthly MJ Bottom Setup

The following Monthly MJ chart highlights the same bottom setup on a longer-term chart basis.  Pay very close attention to how much volume has poured into this sector in October and November 2020.  It is very likely that a new price low, below $11.90~$12.00, will setup within 4 to 8+ weeks that will represent the final downside price move before the Price Flag pattern attempts an upside breakout.  We expect to see stronger volume surge into this final bottom as traders load up before the breakout move begins.

As we’ve been suggesting for a number of months, the broader, longer-term market cycles and trends suggest the next 3 to 5+ years are going to be very dynamic for various market sectors.  Our research team believes the US and global markets have just recently started a broad depreciation phase which may last another 5 to 7+ years.  Typically, within these phases, commodities and other sectors rotate in and out of favor as capital is forced to seek out undervalued and potentially explosive sector trends.

This bottom setup in MJ may prompt a number of individual Cannabis and CBD suppliers, processors, end-user manufacturers, and technology providers to engage in a series of acquisition and consolidation steps over the next few years if this sector becomes hot fairly quickly.  Rising prices and expectations may prompt this industry into a consolidation and technology/distribution expansion over the next 4 to 5+ years.  Very similar to the DOT COM/Technology bubbles recently, when a sector gets hot, it tends to prompt quite a bit of investment and activity surrounding the growth and consolidation of industrial components and technology.

Do you want to stay ahead of these sector trends and learn which sectors are the best opportunities for your trades?  Our BAN Trader trades the Best Asset Now using to consistently earn better-than-market returns.  Learn how our BAN Trader solution can help you keep focused on the best trading opportunities in 2021 and beyond while helping you protect and grow your wealth.  Go to www.TheTechnicalTraders.com to learn more about BAN Trader, or let me teach you how to trade this strategy yourself by watching my FREE webinar! Scroll below to register for your seat now and make 2021 your year to PROFIT!!

Chris Vermeulen
www.TheTechnicalTraders.com

Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic

Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better.

His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility.

He is a regular speaker on HoweStreet.com, and the FinancialSurvivorNetwork radio shows. Chris was also featured on the cover of AmalgaTrader Magazine, and contributes articles to several leading financial hubs like MarketOracle.co.uk

Disclaimer: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Technical Traders Ltd., its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including this report, especially if the investment involves a small, thinly-traded company that isn’t well known. Technical Traders Ltd. and the author of this report has been paid by Cardiff Energy Corp. In addition, the author owns shares of Cardiff Energy Corp. and would also benefit from volume and price appreciation of its stock. The information provided here within should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Technical Traders Ltd. and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect.

Chris Vermeulen Archive

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