Weekly Charts with Rhum (TSLA, WEED, ACB, VO)

We’re starting a new chart-based weekly with our FinTwit friend Rhum.

Every week he will break down the weekly charts from some of the hottest tickers out there. These charts will show you some of the most hyped-up names of the week, and maybe even a few that might be good buying opportunities.

If you like the charts, don’t forget to support Rhum and his blog for his hard work and don’t hesitate to send in any chart requests either.

Beyond A Great Call

Last Friday morning Rhum broke down a chart of Beyond Meat [stock_market_widget type="inline" template="generic" color="default" assets="BYND" markup="(NASDAQ: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] with serious bullish signs. This morning, Beyond Meat is breaking $100 in pre-market trading. Long story short, Rhum knows how to chart ’em.

Cannabis “Kings” Facing Serious Headwinds

After Grizzle’s Head of Research Scott Willis laid down the hammer last week by highlighting Aurora’s [stock_market_widget type="inline" template="generic" color="default" assets="ACB.TO" markup="(TSX: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] potential technical default, Rhum has showed why the chart supports this grim outlook. Investors should look at any ACB entry with caution.

Looking at the PotStocks bellwether, Canopy Growth’s [stock_market_widget type="inline" template="generic" color="default" assets="WEED.TO" markup="(TSX: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] chart is looking more positive, with the potential for a repeat of previous bullish recoveries. However, we want to warn investors that this week Scott opened things up with a piece highlighting why Constellation is NOT going to be buying out Canopy. Once again, enter this trade cautiously.

The Little Electric Car That Could?

In the never-ending saga that is Tesla [stock_market_widget type="inline" template="generic" color="default" assets="TESLA" markup="(NASDAQ: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"], the car company that once secured funding at “420” is now flirting with $500. While we think the fundamentals are laughable, traders could play off the hype if they have the risk appetite.

ValOre Driven By More Than Gold

Palladium and Platinum producer ValOre [stock_market_widget type="inline" template="generic" color="default" assets="VO.V" markup="(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] showing bullish signs as 2020 continues to look like a solid year for miners.

If you appreciated the chart commentary by Rhum, keep in mind this isn’t his day job and he’s doing this to help investors. If you’ve made money based on his charting, don’t be afraid to give a little back.

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The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Evan Veryard
Evan Veryard has a Bachelor's of Chemical Engineering from McGill University and a MaSc. of Chemical Engineering from RMC. He has over 6 years of research experience focusing on industrial materials. Address: 682 Indian Road, Toronto, Ontario, M6P 2C9. Phone: 416-721-8257.
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