Big level of interest for Canopy Growth 
CGC trying to fill the July 25, 2016 gap from 2.15 to 2.20—post-bull pennant.
Pot stocks have taken a beating since the 2021 highs (pun intended). They're clearly oversold BUT they're sitting without a catalyst from the Biden administration toward marijuana legalization efforts.
If you're into dumpster diving, Canopy Growth could be a good dumpster to choose. They have exposure in the United States and don't forget, Constellation Brands
STZ has a large stake in the company. 🧐
For a trading strategy, look for momentum into the end of the week after the gap is filled. Otherwise, buckle up and settle in, as it is likely to continue breaking down out of the falling wedge into Tuesday, August 9, 2022 earnings.
CGC trying to fill the July 25, 2016 gap from 2.15 to 2.20—post-bull pennant. Pot stocks have taken a beating since the 2021 highs (pun intended). They're clearly oversold BUT they're sitting without a catalyst from the Biden administration toward marijuana legalization efforts.
If you're into dumpster diving, Canopy Growth could be a good dumpster to choose. They have exposure in the United States and don't forget, Constellation Brands
STZ has a large stake in the company. 🧐 For a trading strategy, look for momentum into the end of the week after the gap is filled. Otherwise, buckle up and settle in, as it is likely to continue breaking down out of the falling wedge into Tuesday, August 9, 2022 earnings.
Note
Putting in a higher low. 💨
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.