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Top Cannabis Stock Picks! GRWG APHA GWPH. So I have a Solid pick in $GRWG $APHA is a great buy right now at the price and with the potential $GWPH is a LONG hold. And strictly equity. I will be adding at key levels. I Dont disregard the favorites like $ACB $CGC and others but I think that these offer potential as well. GWPH perhaps I am biased on because ive been watching this company for a while, but I think this goes higher based off potential and foothold All in all federal legalization will send us flying. Id rather be in position.
GLong
by SimpleStacks
Massive Short Squeeze in CanopyCanopy is on fire today, and is up 20% plus on the week, off the back of optimism over the possible decriminalization of Marijuana in the United States. Last night at the Vice Presidential Debate, Kamala Harris made mention of the dems plan to bring this to fruition, should they win the election in November. This has the entire sector hot today, without exception, as one can expect. It looks as though we may hit the 200 day MA at 23.30 this week before we see profit taking, and the shorts re-entering. It's also important to note that we're nearing major resistance with the top of the downward channel a stones throw away. I suspect we may see a reversal of the squeeze next week once the bulls have achieved these levels. If there's enough momentum to pierce the upper downtrend line, and the 200 day MA, the upside could be massive, particularly seeing as earnings are not until early November. We shouldn't rule out the possibility of a broad market sell off, given the high number of potential catalysts floating around at the moment. This could heavily affect Canopy's price action, and the positive sentiment around it's valuation. I appreciate your time today guys. Thanks, Michael. If you like our analysis, please hit the Like button and subscribe to our profile so you don't miss our new analysis and updates. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.
TSX:WEEDShort
by Hedge_Of_The_World
2
Canopy Looking Particularly WeakCanopy is in a defined downtrend, and has been trading below it's 21 day EMA since mid August with diminishing volume. Note: earnings release is early November, and the stock has consistently sold off heavily on recent earnings reports off the back of low demand, high supply, and the natural constraints of scaling the edibles/drinks business, among other constraints. The industry has taken a beating with favorites like Aphria down 90% plus from past highs. Aphria's recent earnings report was a monster disappointment, and sent the stock tumbling 20% plus in a single day. I've seen moves of similar magnitude to the downside in Canopy off the back of recent, and similarly disappointing earnings reports. I suspect just as we've witnessed before, the stock will be pumped into earnings, only to be hammered lower once again. Stay tuned. Michael If you like our analysis, please hit the Like button and subscribe to our profile so you don't miss our new analysis and updates. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.
TSX:WEEDShort
by Hedge_Of_The_World
Is Canopy trading in a bullish flag?It's very likely this plays out bearishly as a descending triangle, Canopy recently released earnings & the price continued to sell off immediately in the days following, despite the financials improving from previous quarters, and despite strong beverage sales the market seems to favor the U.S focused MSO's at the moment. Canopy will need some compelling news to break this pattern to the upside. Canopy is displaying a Symmetrical Triangle pattern as well, notice the green upward sloping line of support, Symmetrical triangles differ from ascending triangles and descending triangles in that the upper and lower trendlines are both sloping towards a center point. In contrast, ascending triangles have a horizontal upper trendline, predicting a potential breakout higher, and descending triangles have a horizontal lower trendline, predicting a potential breakdown lower. Symmetrical triangles are also similar to pennants and flags in some ways, but pennants have upward sloping trendlines rather than converging trendlines.
TSX:WEED
by ScotianBot
Potential Massive Double Bottom. (CANN)Looking at major s&r levels on general cannabis Corp otc pennystock. I will throw a couple of shares in the portfolio on a potential support play. Just a buy and hold small diversification and I'll forget about it. If respects levels we could probably get a pop up towards $1 - $1.25 My indicators are not providing a buy signal, just a potential support play. Sometimes you just feel like rolling the dice 🎲🎲 Longterm hold. Diversify! Never go all in, especially OTC Markets!
OTC:CANN
by UnknownUnicorn2319099
1
Fake out on the Ascending Triangle to the downside?It appears as though Canopy may have pulled a fake out to the downside on an ascending triangle I have outlined in dark blue. In my previous post I mentioned how the RSI has seen bullish support when approaching the green arrows pointing side ways to the right, where I had a question mark in my previous post is now a green arrow coinciding with the others. Possibly a bullish flag outlined in green, the downward sloping resistance keeps getting breached to the upside negating a descending triangle / bear flag.
TSX:WEED
by ScotianBot