Tuesday, 4 December 2018
ETFMG Alternative Harvest ETF (NYSE: MJ): 4 December 2018, Tuesday, 5.25pm Singapore Time
4 December 2018, Tuesday, 5.25pm Singapore Time
(Click on Technical Chart above to Expand)
Attached is the Technicals for ETFMG Alternative Harvest ETF that is listed in the NYSE. The ETF is correlated to the Prime Alternative Harvest Index that tracks companies which are Marijuana related. In essence, it is a Marijuana industry-related ETF, and is almost totally independent of any trade war effect (more risk-free but very high beta industry). The Marijuana industry is on both the powerful black up-channel and the more accelerated orange up-channel. The uptrend is strong. The volume flow as circled in blue (Blue Circled Region) shows that small retailers are the ones selling and big players and smart monies are the ones persistently buying. This means the uptrend has strong legs. Expect the Marijuana stocks to be in play again soon.
The Donovan Norfolk Technical Rating:Bullish