CGC wants to be king. This weekly chart looks amazing. Hidden bullish divergence with an ascending triangle pattern. We are going to the moon.
CGC trade ideas
Canopy Growth CGC broke the trendline and is now consolidating in a range. Also, the increase in volume and the fact that the MACD is in a positive territory again support the long scenario. The trade can be entered immediately and the stop should be placed under the 50MA at 23$ which also should function as a guideline for the stopmanagement.
But be aware that the CPI data from May will be released on the 10th of June: if they are higher than expected the US10Y will rise which can cause trouble for the growth stocks (no pun intended).
CGC getting hot to $30+Cannibis Sector now getting hot after ahead of some key legalization moves. This stock can hit $30 in the near term
Target-1 $30
Target-2 $36
Stop Loss $22-21
$CGC - Channel- Major - Falling WedgeShort term trade to ATH falling wedge!!
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$CGC Canopy Growth Potential Trade setup
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$CGC 2021-APR-28Has $CGC found its new floor, around $25? The last few quarters have had extreme upsides in the month leading into an earnings report. It will be interesting to see if history repeats, as next week marks 1 month until earnings.
$CGC 2021-APR-23It's interesting that the 50th anniversary for 420 day coincided with a retouch - and bounce - on the support zone for Canopy. There has been a fair bit of good news coming out for CGC recently, but some of it's shine looks to have come off as the WSB get-rich-or-get-homeless crowd has moved to the next big thing. Where will it go from here...
Breakout could be immanent Cup and handle forming on the weekly, heading up towards the pivot point for a breakout.
WEED - Quick HighMJ stocks has been hit hard and it's killing the high of cannabis investors.
However it is due for a pullback on the upside.
We have a falling wedge and the price has dropped down to a major support.
WEED - Long + 40% Second share of the week: Canopy Growth
Right now, the cannabis industry is under extreme pressure. Firstly, due to the Corona-related closures, which have further reduced revenues. In addition, legalization is moving forward, but not as quickly as investors would like. WEED has lost almost 50% of the yearly high and shows a bearish tendency. Should investors therefore keep their hands off it? I say no! Especially in the longer term (1-3 years +), an ideal entry point is emerging. Even though the share could lose further ground in the short term, I would use this moment to buy a first tranche and buy more if the loss continues.
CGC at 200 day EMACGC is at 200 day EMA. If it breaks below, it could see $24. I don't have much faith in dems right now to push reform so this rally could turn ugly very quick
cgc back to all time high?This could bounce from 21W moving average. Lets see. Not financial advice. DYOR.
CGC - Long Term ShortCGC - Long Term Short
CGC Daily:
- Cup n handle failed, handle should not retrace
further than 50% of bottom of cup.
- double bottom with 2nd touch trending lower
makes a double bottom with less integrity.
- RSI trending lower.
- possibly will continue further to the .618 Fib, but most likely lower.
- playing the bounce back up to $31,
- looking to enter short if resistance is broken at $27.85
CGC - Short Term LongCGC - LONG
- Looking for a bounce back up to the upper trend line ($31)
- Double Bottom
- RSI Trending Up
- Stop loss: $28.90
- Profit Target: $31
- Entered long @28.80
- FYI, this stock is BEARISH long term, this trade should only be held if it can break 29.43 Monday morning.
Cup and handleI expect a ton of good news around in April which can move this higher.
Not the financial advice.
