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.
CGC trade ideas
CGC - bullish 5th wave?Posted a chart on this stock back in May this year suggesting that a turn might be coming. Is this it? Plenty of divergence on the RSI and a decent move up. Could be a 5th wave.....Other possibilities have to be considered though so I have included a much more bearish blue count.
LONG CGC- Watch EWO go above yellow (4 wave)
- Watch SPEED FIB RESISTANCE
- Stop 23
- Target 30
- Possible Entry 25.5+
$CGC - engulfing green candleGot in before the last gap up, may add more now. This looks strong. Weed stocks may be the obvious call for 2021, but damn it may be a great call. This green candle taking out the past two days. #BULLISH
$CGC Canopy Growth Chart Analysis
CGC - The professional gap up held last week, which is a bullish sign,
volume was low on down days,
If the gap gets tested again on a red open, I will be looking to catch reversal.
trendline break would be very significant and open up the
chart to a move towards $40.
CGC - January 10, 2021CGC - Canopy Growth Corp is the largest and leading cannabis producer in the space. Although they are not profitable nor expected to return a profit until 2024, the outlook for Cannabis companies are strong over the next 4 years as a Democratic house strongly supports the federal legalization of Cannabis. This catalyst will be huge for the marijuana industry and CGC is a leader who stands to benefit. It should be noted that significant risks with this investment include the dependency on legalization, elimination of black markets, as well as significant capital requirements for facility operations and maintenance. Looking for CGC to retest the 32.32 resistance and continue higher following this uptrend to 37.
$CGC - perfect bounce off new supportA little dip today. Unfortunately couldn't add, but I would have.
Future of WEEDLooking to see the downtrend get broken to confirm an accumulation phase.
If accumulation; expecting things to move quickly.
CGC potential break of 618CGC making another run at the longer term 618 at 30. If price can get and hold above 27.50 then a run to 29.50 is possible. A break of 30 opens up space to 40. Careful as run ups can be sold into sharply, but if it gets going massive upside in this market where understandable themes get bought up heavily.
$CGC Canopy Growth Bullish Targets
Sorry I can not go into to much depth for these posts but I have major time constraints .
I have included the targets/resistances I will be trading between today
Cup and Handle? CGC WEEDI'm not as experienced as some of you guys but does this look like a bullish cup and handle signal?
$CGC<>WeedStocks<>ElliotWaveGrandSuperCycle<>WaveOne>LONGAs title suggests this is the longterm elliotwave on CGC to take us to $1300 per share by ~2028.
We are currently commencing the wave 3 of the 3 of 3 of 3 of the long term Grand Super Cycle wave 1.
We can expect the most impulsive move in the history of CGC, weedstocks, and therefore the World over the next few weeks.
Possible CGC shortCGC may be breaking out to the downside of this precious upwards channel. It could test 23-24 price range before a possible bounce back up. Long term fundamentally bullish but short term bearish on this one.
>ElliotWave<>3degreeComplexWXY<>COMPLETE<>ImmediateUpside<>LONGAS the title suggests, we have completed wave 2 of greater wave 3. Expect immediate upside, major impulsive move incoming as wave 3 commences.
This correction was 3rd degree (in orange) complex WXY with 2 5 wave moves enclosing another complex WXY (yellow) flat, which itself is another 2, 5 wave moves enclosing another complex WXY (green) flat which itself is made up of a simple ABC zig-zag and a simple ABC flat with a 5 wave down move move to complete.
Here is a zoomed out snapshot of the interior wave 3 of the greater wave 1 we are currently in.
Possible consolidation for WEEDI think we could see more consolidation for the next day after christmas.
However, I made a forecast of two scenarios. However I think we have more chance to see more bearish move.
CGcKeep a close eye on 25.77 level. We could get a bounce here, a small run up and a second retest. If we do get a nice double bottom on this area, it could be creating a nice inverse head and shoulders
CgCCGc got a perfect bounce off of old pattern breakout! This should be pretty damn bullish!! Wow glad I saw this! Could still retest it once more around 25.03 so keep your eyes on this!!!
