Triple Bottom & Inverse Head & Shoulders. Has Aleafia stuck in a bottom recently, it appears as though on the RSI there is a staircase creation of higher lows & higher highs, and now a Inverse Head & Shoulders is forming & may break-out bullishly to the upside in the near term.
It also seems like a bull flag is breaking out to the upside right now.
ALEF
ELF Ascending ScallopELF has produced an ascending scallop, if handle forms this is a great buy zone for a second possible ascending scallop, in market conditions such as these.
Possible scenario for ALEFThis is roughly what I am looking at right now. A lower low would invalidate this.
Time for an Aleafia bounce?Aleafia looks like it is ready for a bounce at the very least.
The RSI is also forming an ascending triangle.
Easy risk to reward on this one. Either it breaks out from a $1 entry with a target around $1.50 or it breaks down from the $1 level, invalidating this trade idea.
ALEF, my darling, where are you headed?Gann helps identify patterns early on. Before the end of this week, we'll have short term direction. Buy the dip, or sell the rally? 1.760% revenue increase, and not a single penny up? Ridiculous! This is a stock that is getting way to little attention. Wait until it gets the two licenses granted, later this year! ALEF has more capacity than CRON, just a little less than HEXO. Aleafia is the seventh largest producer, and with medical focus and client base, they don't care about the Canadian recreational market. Supply deal with CannTrust, good international footprint. Find your entries now, and enjoy the returns when the rest of the world wakes up the ALEF's potential.
Double Bottom?The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend.
Time will tell per usual.
Is the bottom in for Fire & Flower? Looking at the chart for V.FAF it appears as though things can only go up from here?
There's some speculation around Fire & Flower being acquired by Aleafia.
Interesting enough, Certain directors and officers of Emblem have interests in Fire & Flower. In particular, Harvey Shapiro, a director and the Chairman of the Company, is also a director of Fire & Flower. In addition, Mr. Shapiro owned approximately 19.5% of the Fire & Flower Shares outstanding and controls and directs approximately an additional 65% of the Fire & Flower Shares through a voting trust. Further, prior to giving effect to the offering, Maxim Zavet, a director of the Company, owned approximately 4.2% of the Fire & Flower Shares outstanding and Nick Dean, the President and Chief Executive Officer of Emblem which was acquired "Aleafia" owned approximately 0.3% of the Fire & Flower Shares outstanding.
Time will tell per usual.
Has Aleafia found a bottom?Aleafia is looking to retest a recent support that was made May 3rd.
If it holds then we will see a double bottom & possibly a reverse in the trend after the break through the descending triangle I spoke about in my previous post.
ALEF - lower high or lower lowWhere is she headed? This has to the be THE single most undervalued pot stock at this time. With a capacity that is greater than Cronos, this #6 biggest player by production capacity is long overdue for some attention. Strong fundamentals, presenting earning next week. A beat would have this stock search for a weekly lower high, then hopefully a higher low, followed by a higher high.
Looking historically, it would seem that $1.50 is about as low as it gets, though an earnings miss may have her search a deeper bottom.
Fingers crossed, those with a position, I'm sure we're all somewhat it the reds at this time. I strongly believe that ALEF should be trading at a valuation of around CAD$ 6 at this point, judging from it's peers' valuations and ALEF's potential forward revenue. Maybe, once the trend turns and Aleafia gathers the momentum it is working for, we'll see a better valuation in the second half of this year.
#Long ALEF
ALEF crossed 12EMA with hidden bullish divergenceConfirmed when it bounced today. Every time ALEF has presented the current set up, it was prior to a bull run. The next few days will be crucial. If bulls manage to keep her on top of the 12 EMA, we'll soon have enough volume to turn this ride around.
Aleafia uplisted to the TSX, merged with Emblem and is currently waiting for Health Canada to license their latest facility. Aleafia is a player to take serious, and with an enterprise value of 344M, should be trading with a market cap of at least 2.1 Billion $, according to market averages, which translates to a stock price of $7.80.
I'm in on ALEF. I think this is a fantastic and rare opportunity.
