CGC trade ideas
WEED.CA: Bullish Pennant, awaiting confirmationBullish Pennant, awaiting confirmation
Pros:
Descending volume during formation
Volume at break out
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 10
200MA ascending
250RSI above 50
PT = 83.74$
[CGC] Will be Loadin up Before Next Uptrend CrossThis is now my number two long term growth pick, recently supplanted by the winning APHA/TLRY combo. Still a better company than ACB by a good margin. OGI best value and ACB next best value though, these two been in the trenches for most of 2019 relative to the overall industry.
HEXO and SNDL still strugglin but holdin up OK, also great value there but much riskier. CRON has been very quiet but holding at a steady level at least.
I'm really loving my IIPR, YCBD and VFF pickups from a few months back too.
Kickin myself for missing GRWG, waiting for better value now.
CGC 1D possibilityNASDAQ:CGC
Looks like CGC will have a pull back to 0.5 fib level $34.75.
Stochastics overbought.
CGC SHORTDrugs are bad
Huge Put volume at 35
Call wall at 45
Way over extended
Huge and growing short interest
Canopy WeedCanopy is retracing downward to find support.
This is too textbook not to hypothesize about. I just had to do it, too many things are aligned.
1. We can see the market structure (and respect) in the demand zone. (i.e. arrows)
Support & Resistance.
2. There is also alignment with 1.0 and 1.618 Fibonacci extensions.
3. This is all respected with a bullish and bearish trend line.
I know a lot of people would buy the demand zone but I like to take the low-risk approach and buy the breakout instead,
thereby I will also verify my hypothesis, though only after waiting to verify that the breakout level is respected.
Thereafter I would probably hold, only to sell at 63-64 CAD (where there is a 1.618 Fibonacci extension of the greater trend)
Happy trading.
In case you haven't realized, CGC is going to the freaking moon.First, break resistance around $55- 60. Then to the moon.
See my previous CGC idea, if you have any doubt.
Short CGCCGC has hit the 62% retracement of the downmove. Cyclically we have also hit a turning point which indicates a high. The stock should fall to about $25 by March
CGC Continuation Idea BUY SIGNAL I have previously called a buy on this stock at $24.30. It is up 53% from our first call on Nov. 6,2020. I am still looking for more buying power to come with this stock in the future. We will be holding our positions long term for this one.
CGC - Trade Reversal and Bull Flag (Etoro Portfolio)Price cross above MA200 (black line) and formed a uptrend till 29.50 price.
Typical bull flag (or the power flag), build up approx. 18 trading days.
The 18th day's volume (6.744m) slightly increased and higher than previous days.
The price rejection : one white soldier breakout the trendline draw from top, MACD and RSI also appeared buy signal.
I have a position @CGC with 2R taking profit.
IBD's RS (Relative Strength) = 88, Industry Group Rank = 21 / 197
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Can CGC get here?Looks like the beginning of consolidation. We may be stalling for a bit. Can it break through?
CGC TAAsset broke year long down trend. Now bull flagging above two obvious resistances (horizontal and diagonal). RSI above 5 and trending higher on the daily. Probability of more buy pressure in the mid term.
CGCSame story here. Weed in general looks good. I don't think $100 by the end of the year is too much of a stretch personally.
