VIDEO: Technical Analysis of Innovative Industrial Properties
Watch Stephen Goldman as he evaluates Innovative Industrial Properties (NYSE: IIPR) using the Williams Alligator, CCI, RSI, and MACD to evaluate if IIPR is ready for a buy. Additionally, Stephen looks at multiple time frames to back up our analysis. Lot’s to learn. Trading is easy. Trading is fun. Use this technical analysis to determine if IIPR pot stock has any chance of a buy in the coming days. See more our Technical Analysis page for more information on other great marijuana and hemp stock trading opportunities. Read on to see the technical indicators we use and what they mean.
Is IIPR a Strong Buy?
Why use Multiple Technical Indicators when Evaluating Stocks?
If you’re only using a single indicator to evaluate whether you should buy or sell marijuana and hemp stocks you may be missing important price trends. Any single trade made based on one indicator alone may have a higher likelihood of not performing as intended. At Cannin, we like to combine multiple technical indicators into a single strategy to help limit risk while still earning strong returns investing in marijuana stocks and hemp stocks. In fact, we’ve combined and packaged our machine learning software for this purpose. Get your free month now. New to cannabis stock investing? See our quick guide on opening your online stock brokerage account in 5 minutes.
Technical Analysis of IIPR: What is The Williams Alligator?
The Williams Alligator is a technical analysis tool that can be very helpful when evaluating cannabis and hemp stock investment opportunities. The Alligator uses smoothed moving averages (SMMA) calculated with a simple moving average (SMA) initially. From this, the Alligator uses three moving averages set at different periods – five, eight, and thirteen respectively. In the video, you’ll notice 3 lines – here’s what they mean:
- “Jaw” (blue line): Begins with the 13-bar SMMA and is smoothed by 8 bars on subsequent values.
- “Teeth” (red line): Begins with the 8-bar SMMA and is smoothed by 5 bars on subsequent values.
- “Lips” (green line): Begins with the 5-bar SMMA and smoothed by 3 bars on subsequent values.
Using convergence/divergence relationships, trading signals can be recognized with the “jaws” turning slowest and “lips” turning fastest.
Technical Analysis of IIPR: What is CCI?
Cannabis and hemp stock investors use the Commodity Channel Index (CCI) to help identify price reversals, price extremes, and trend strength. As with most technical indicators, the CCI should be used in conjunction with other technical analysis indicators to evaluate cannabis and hemp stocks. CCI fits into the momentum category of oscillators. In addition to momentum, volume indicators and the price chart may also influence a technical assessment of your select cannabis stock. CCI is often used for detecting divergences from price trends as an overbought/oversold indicator, and to draw patterns on it and trade according to those patterns. In this respect, it is similar to bollinger bands, but is presented as an indicator rather than as overbought/oversold levels.
Technical Analysis of IIPR: What is an RSI?
The Relative Strength Index (RSI) is intended to map out the current and historical strength or weakness of a marijuana stock based on the closing prices within a recent trading period. The RSI indicator should not be confused with relative strength. The RSI calculates momentum as the ratio of higher closes to lower closes and is most typically used on a 14-day timeframe, measured on a scale from 0 to 100. Scores of 70 and above are considered ‘high’ while scores of 30 and below are considered ‘low’. Scores approaching the “extremes” (80-90 or 20 to 0) occur less frequently but indicate stronger momentum.
Technical Analysis of IIPR: What is MACD?
The Moving Average Convergence/Divergence, or MACD, indicator is a combination series calculated from historical closing price data. These series include the “average” series and the “divergence” series. The divergence series is the difference between the two. The MACD series is the difference between a short-period exponential moving average (EMA), and a longer period EMA of the price series. The average series is a combination of the EMA of the MACD.
Before you buy or sell your next marijuana stock or hemp stock, make sure you are evaluating multiple indicators to see whether there is a solid BUY or SELL opportunity. Profit from trading cannabis stocks with cannin.com.
VIDEO: Technical Analysis of Innovative Industrial Properties
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