Stock(ing) Stuffers to Love the Best of 2024 | Mish’s Market Hours

Just for fun and since I didn’t include it in Outlook 2024, I decided to take a look at what the experts are saying about mushrooms, cannabis, and hemp. In the end, recreational and medical alternatives as investments didn’t pay off tremendously and were little legends in their own minds.

As I looked around, I saw predictions of increased sales of pre-rolls, lower THC percentages in products to encourage more sales, improved medical benefits, and the continued rise of mushrooms as a competitor. But here’s what caught my eye:

“By 2024, cannabis beverages will do more to normalize cannabis in the minds of consumers than any other form factor.” — kenny Morrison, Founder, CQ

CQ is a beverage company that makes cannabis-infused juices and sodas.

Cans are fun. The message is, “Made with the highest quality ingredients, expect a refreshing infusion of real fruit and terpene-rich cannabis for a delicious, juicy buzz.” However, it is not publicly traded.

We’ve found four stocks in cannabis, that is, that are technically amazing and probably good to add to your portfolio in the new year.

While searching for companies that sell cannabis and other infusion companies, Altria (MO) came up. The fact that SPY is underperforming but experiencing an improving transition towards a recovery tells us this is something worth noting.

MO spent all of 2023 below its 23-month moving average. Watch for movement above 46.00.

Anheuser-Busch InBev (BUD) looks better. Also, check out the Golden Cross if SPY is underperforming. Momentum is also interesting, so watch above 65.00 at the weekly close.

Molson Coors Beverage (TAP) is down significantly from last week’s highs. But the long term chart looks good. Some volume and a pullback above 64.00 looks interesting.

AbbVie Inc (ABBV) looks the best right now. It outperforms SPY and the momentum is very strong. Why ABBV? Marinol, a compound known as dronabinol, is a synthetic form of THC that shows promise as a therapeutic agent in cannabis. More importantly, it is a direct signal that traditional pharmaceutical companies are exploring the alternative treatment space. If you’re above 155, you can easily go up to 175 or above.

This is for educational purposes only. Trading involves risk.

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Mish appears on Business First AM on November 29th to make the case for Vaxcyte (PCVX) and makes the bullish case for gold.

Mish joins Nicole Petallides on the Schwab Network to talk about money supply, debt, consumers, inflation, and trends that could drive 2024.

Tuesday, November 28th on StockCharts TV Your Daily 5Mish offers six stock recommendations with specific, actionable plans.

Mish explains how Palo Alto’s technical setup and MarketGauge’s quantitative models found this winner in Business First AM.

Mish and Maggie Lake cover inflation, technology, commodities and stock picks in an interview with Real Vision.

Mish currently talks to Yahoo! about trading scope, fundamentals, and how to think about commodities. Jae Won.

Appearing on BNN Bloomberg, Mish covers the emotional state of oil and gold and explains why small-cap stocks are key right now. She also offers some recommendations!

Find out how to trade commodities more effectively with Mish in this interview with CNBC Asia!

Mish and Charles Payne appear on Fox Business to discuss why small-cap stocks currently in the mid-market still have a chance to bounce back. How to Make Money with Charles Payne.

Mish talks about Tencent Music Entertainment on Business First AM.

Coming soon:

December 20th: Outlook 2024 with StockCharts

December 22nd: Yahoo! Jae Won

December 28: singapore morning radio

January 2nd: Last Bar with David KellerStock Chart TV

January 5: Daily briefing, Real Vision

weekly: Business-first AM, CMC market

• S&P 500 (Spy): Resistance is at 475 and basic support is at 465.
• Russell 2000 (IWM): Resistance is 200 and support is 194.
• Dow (HE): It is the strongest index and should remain at 370.
• NASDAQ (QQQ): Resistance at 410 with support at 395.
• Local Bank (KRE): Support is 47 and resistance is 55.
• Semiconductor (SMH): There are 174 pivotal applications underway this month.
• Transportation (IYT): You need to clear this high and stay at 250.
• Biotechnology (IBB): 130 Pivotal support.
• Sleeve (XRT): There is now a huge gap in the last two days of the week that needs to be maintained.

Misch Schneider

MarketGauge.com

Director of Trading Research and Education