Here are your trades on $ULTA $TLRY $CGC and $IIPR – December 5, 2022


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I want to set you up for some ideas for Christmas shopping. It starts here with Ulta Beauty ( NASDAQ: ULTA ). You can see the kind of move that this stock is in, it is just drifting out of a prolonged base. It has essentially been, for most of this year, continuing a more prevailing uptrend.

Think about it, if you are a guy, these days that’s a fluid situation, I know. If you identify as a guy and you are married to somebody who identifies as a woman. Check out Ulta ( NASDAQ: ULTA ), because there are a lot of beauty products there for anybody who wants to dress that way. And so my sense is, we’re probably getting a few more people that are doing this than they were last year or the year before.

So I would pay attention to this, this is the 8-day exponential moving average here. Don’t be buying it here. Buy it when the stock comes back and tests this 8-day EMA, that’s really what you want to be looking for. So that could work really well. Hopefully, it will put a few bucks in your Christmas stocking.

Now, what about this, what about the pot industry ( NASDAQ: TLRY )? We’ve got a lot of stuff coming up here, these things are all acting pretty well. My compadre, Scott McGregor, told me the reasons why, as far as, credit card companies are allowing this and all that. It’s a little bit tough to do it in the US, but I guess it’s really easy in Canada. They are taking your guns but they are letting you have pot really easily.

So if you are a gun-toting guy that likes to get high, maybe you straddle the border. I don’t know, but I know this, these guys are all moving up, you can’t buy this here. You can’t buy it here. You wanted to buy it. I didn’t buy it, I don’t own it. I haven’t traded this and I missed it.

So I am just telling you, you want to be buying something like this when it breaks out to a new high. This was like a 14 or 15 percent gain. If you were watching it, and admittedly I was not, when a stock like this breaks out above a down-trending 200-day moving average, this is a nice move.

Now, I am saying, you can’t buy it here, this is when you can buy it; when the stock pulls back. When the stock pulls back on this profit-taking, and it was here today, early and then boom, it slammed down at the end. You will get a better chance to buy this stock tomorrow.

You can look at Innovative Industrial ( NYSE: IIPR ). They do the picks and shovels, so to speak. They pay a 6 percent yield, look to buy this. Again, you can’t buy it here, it is so close to the 200-day moving average, which is an ideal time to look for profit taking.

It’s got kind of a low ceiling here but it is definitely something you should be watching. You want to be looking at it in 2 time frames. You can see it does have some pretty momentum, we just need to see it test this 200-day before we really feel good about that.

And then finally, we’ve got Canopy Growth ( NASDAQ: CGC ). It looks pretty similar to Tilray ( NASDAQ: TLRY ), the same kind of thing. This thing just popped out above the 200-day today, and you can see what happens. It failed here, and then it failed here again.

So 2-days in a row it blew through the 200 and then came back. It blew through the 200 and then came back, which is why if you are watching this stock, you want to be looking at it below $4.00, closer to 3.50, not below 3.50. If it falls below 3.50 it is probably a busted trade.

These are stocks that you can be, whether it’s Ulta ( NASDAQ: ULTA ), Tilray ( NASDAQ: TLRY ), CGC ( NASDAQ: CGC ), Innovative Properties ( NYSE: IIPR ). These are stocks that you can be trading, you can be owning. The question is, just where are you going to be buying these?

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