Did Canopy create a double top, or is the stock going to create a Macro higher low & stick in a bottom tmrw or sometime right away next week?? If Canopy doesn't take control of the market tmrw with some big news to offset the market sentiment than don't look down, in my humble opinion which is only worth a grain of sea salt from...…. Time will tell per usual.
Oh well, were definitely expecting more energy from around here but now it seems to be that the support that has been holding the price on right course since December '17, is lost. This channel where the price bounced a tiny bit right now has also been tested few times earlier. Not looking that impressive here, for me at least. If this channel is lost, we may see...
After charting $CGC I think I'm going to place a couple of LEAPS
CGC is currently within a very clean bull-flag pattern. We also have the 100/200 day moving averages right around the bottom of the bull-flag. I will be looking for a break-out above the descending line of resistance, and if we get that with some conviction, we could see CGC run back to previous highs around $55-60. Moving average guide (All daily for this post):...
weak at least levels suggest price will come towards 50$ range - it just can't above 65$ not enough buyers showing up..market profile suggest 50$ at a naked VPOC to come test and find buyers 15-20% drop very possible here will probably affect whole cannabis sector which is pretty much overbought anyway
Canopy Growth Corporation is on strong long term bullish price action both on 1W (RSI = 58.856, MACD = 4.873, Highs/Lows = 2.6189) and 1M (RSI = 66.122, MACD = 12.099, Highs/Lows = 7.3414). Since mid 2017 in particular, it has been trading on Higher Lows reaching +1000% in growth. Using the Pitchfork to identify the pressure zone, we estimate that the asset is...
Update of previous chart on Canopy. MACD, Parabolic Sar, RSI all looking pretty bearish and reminding me of previous chart action in the aftermath of the late 2018 price run-up. However.. the EMAs (10 and 30) haven't crossed over, and to me that would need to happen to confirm a steep downtrend. For now things are leaning bearish, if we see further...
Bought last year, way too high, down 60% in my position Realize I suck at holding 3-5 years long term Realize I don't like to bet on biotech/pharma companies who are constantly in development stage with no sales I find these companies sketchy with changes in management, awaiting FDA approvals, cash burn, lack of transparency on development of new drugs/trials,...