Technical Analysis for MJ - ETFMG Alternative Harvest ETF
| Grade | Last Price | % Change | Price Change |
|---|---|---|---|
| D | 3.20 | 2.24% | 0.07 |
MJ closed up 2.24 percent on Friday, November 1, 2024, on 65 percent of normal volume. The stock exhibited some range contraction during this trading session as price made an NR7 -- narrowest range of the last seven sessions. Note that the stock is in oversold territory based on its Slow Stochastic indicator (14, 3, 3) -- so don't be surprised if it goes sideways or bounces.
| ADX | Long Term | Intermediate Term | Short Term |
|---|---|---|---|
| Weak or Absent | Down | Down | Down |
| Date | Alert Name | Type | % Chg |
|---|---|---|---|
| MACD Bearish Centerline Cross | Bearish | 0.00% | |
| NR7 | Range Contraction | 0.00% | |
| Stochastic Reached Oversold | Weakness | 0.00% | |
| Gapped Up | Strength | 0.00% | |
| Oversold Stochastic | Weakness | 0.00% | |
| MACD Bearish Signal Line Cross | Bearish | 2.24% | |
| Down 3 Days in a Row | Weakness | 2.24% | |
| Down 4 Days in a Row | Weakness | 2.24% | |
| Fell Below 20 DMA | Bearish | 0.00% | |
| Fell Below 50 DMA | Bearish | 0.00% |
| Alert | Time |
|---|---|
| Possible NR7 | about 23 hours ago |
| 60 Minute Opening Range Breakout | 1 day ago |
| Rose Above Previous Day's High | 1 day ago |
| Up 3% | 1 day ago |
| Up 1 ATR | 1 day ago |
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Basic chart:
MJ tracks the Prime Alternative Harvest Index, designed to measure the performance of companies within the cannabis ecosystem benefitting from global medicinal and recreational cannabis legalization initiatives.
First U.S. and world’s largest ETF to target the global cannabis industry.
Many other significant applications for cannabis and THC based medicines and treatments ranging from epilepsy to cancer treatment to non-opioid pain management.
The global cannabis market is expected to grow at a CAGR of around 17% and reach $55.8 billion by 2025.¹
Keywords: Medicine Cancer Pain Cancer Treatment Cannabis Euphoriants Opioids Entheogens Pain Management Medicinal Plants Epilepsy Herbalism Medical Cannabis
Classification
Keywords: Medicine Cancer Pain Cancer Treatment Cannabis Euphoriants Opioids Entheogens Pain Management Medicinal Plants Epilepsy Herbalism Medical Cannabis
| Indicator | Bull Case | Neutral / Hold | Bear Case |
|---|---|---|---|
| 50 DMA | |||
| 200 DMA | |||
| ADX Trend | |||
| Oversold / Overbought | |||
| Relative Strength |
| Indicator | Value |
|---|---|
| 52 Week High | 4.5199 |
| 52 Week Low | 2.6559 |
| Average Volume | 729,415 |
| 200-Day Moving Average | 3.41 |
| 50-Day Moving Average | 3.23 |
| 20-Day Moving Average | 3.25 |
| 10-Day Moving Average | 3.31 |
| Average True Range | 0.10 |
| RSI (14) | 46.24 |
| ADX | 15.19 |
| +DI | 17.86 |
| -DI | 23.09 |
| Chandelier Exit (Long, 3 ATRs) | 3.20 |
| Chandelier Exit (Short, 3 ATRs) | 3.40 |
| Upper Bollinger Bands | 3.45 |
| Lower Bollinger Band | 3.04 |
| Percent B (%b) | 0.39 |
| BandWidth | 12.68 |
| MACD Line | 0.00 |
| MACD Signal Line | 0.01 |
| MACD Histogram | -0.0127 |
| Pivot Point Level | Traditional / Classic | Fibonacci | Demark | Woodie | Camarilla |
|---|---|---|---|---|---|
| Resistance 4 (R4) | 3.31 | ||||
| Resistance 3 (R3) | 3.31 | 3.27 | 3.29 | ||
| Resistance 2 (R2) | 3.27 | 3.24 | 3.27 | 3.29 | |
| Resistance 1 (R1) | 3.24 | 3.22 | 3.25 | 3.24 | 3.28 |
| Pivot Point | 3.20 | 3.20 | 3.20 | 3.20 | 3.20 |
| Support 1 (S1) | 3.16 | 3.17 | 3.18 | 3.16 | 3.12 |
| Support 2 (S2) | 3.12 | 3.15 | 3.12 | 3.11 | |
| Support 3 (S3) | 3.09 | 3.12 | 3.11 | ||
| Support 4 (S4) | 3.09 |
