Get started
CANOPY GROWTH CORPORATIONCANOPY GROWTH CORPORATIONCANOPY GROWTH CORPORATION

CANOPY GROWTH CORPORATION

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Bonds

WEED trade ideas

WEED - Bearish DivergenceDear Traders, As we can see WEED managed to make a nice run, but as I said yesterday, better not enter because this is a time bomb. And guess what happened. It dropped, and in my opinion it's not ready to go up for some time. This bearish divergence happens when we have a new high, but RSI shows us a lower high. It's time for a big retracement people. Any thoughts ? Feel free to join my new Discord Channel if you interested in talking to me and others about stocks, info and of course opportunities! discord.gg
TSX:WEEDShort
by Raw_Blitz
2
WEED - How High Can It Go ?Dear Traders, Like ACB, WEED had a great run yesterday and a lot of traders have been able to make good gains! The question everyone is asking now is, how far will this go ??? Well that's a pretty difficult question o answer because this stock could retrace any time, but it could also pop up another 5% before starting a retracement. My trading strategy here will be to wait out the sprint, it's too late to enter again in my opinion. I don't want to be left with a huge bag bought way too high. One the Cannabis stock have retraced i'll load up my bags with a lot of shares. Any Thoughts ?
TSX:WEED
by Raw_Blitz
3
WEED looking for blue sky breakout tomorrow!WEED had a gap-up and run open this morning on massive volume, breaking our daily equilibrium bullish and finishing the day up 13%. WEED rejected from all time high today although the American ticker certainly smashed that level, but we still closed pennies off the high of the day. After hours trading saw CGC hit as high as 58.44. We're riding well above the daily Upper Bollinger Band as support. We also see the hidden bullish divergence on the RSI and MACD having finally played out. RSI has broke out of its descending wedge pattern, and the MACD has started to curl up. We're looking for a higher MACD spike tomorrow. When stocks are at all time highs there is a lack of resistance, so we look for psychological round numbers. $75, $76, $77, etc. $80 especially should be tricky. We also look at the American tickers to correlate the highs of pre and after market with the Canadian levels. For CGC the high of after hours trading is 58.44. Our key support is 70.16 on the hourly. Keep walking your stop losses up. We're in a euphoric bull run and we want to protect our profits from any sudden sell-off. Also keep in mind the correlation to the overall market. SPY has its second daily inside bar to watch the range of tomorrow, and while a bearish end of day didn't affect the mj sector today, we have seen countless times where it has. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:WEED
by McGuireTO
WEED - Only two levels matterIn the past few ideas I've been pointing viewers to the intraday charts on WEED and I'm no longer doing that. The price action remains so choppy within this range I've become convinced there's no use for it for the pattern. We now have two green days in a row, but because Oct 11th had a much lower open, we still don't have two "real" green days in a row - where the close is higher than the previous day. Our high of day also rejected from the uptrend line we lost on Wednesday. We have a descending wedge pattern on our RSI, showing hidden bullish divergence. We see the same type of divergence on the MACD as well. Part of the unclarity lies in that we don't have a clear level of resistance, but rather we have bands of resistance, so I default to using the outermost extremities of the pattern. Support: 60.14 Resistance: 66.19 These are the only numbers that matter to me for CGC. From Friday's close we're only 14% away from all time high; If we break bullish out of our current equilibrium we will test that level, so I'm more than happy to sit back and wait for the clear direction. That said, bottom-fishing bear breaks of $61 have been profitable over the past week but I would keep a very tight stop on any such attempt. It's also worth noting that I do not chart or play WEED. I chart CGC only - it has significantly more dollar volume so I believe the signals on that chart are more important; but both are worth keeping an eye on - I've seen instances where CGC struggled at a seemingly random price, and it was because WEED was up against a psychological resistance. With that in mind, I see WEED has broke bullish out of the RSI descending wedge but CGC has yet to do so. I also note this RSI pattern on WEED is actually more of a parallel channel. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:WEED
by McGuireTO
WEED - Technical AnalysisDear Traders, Let's have a look at WEED (Canopy), since it reached it's new ATH, WEED has been retracing back to the 55 ema (Which is a common thing). But the question was, will that 55 ema hold, well for now it does, but this week has been very volatile. As long as we stay above that 55 ema, we are in a bullish mood/trend. If we succeed in staying above the 55 ema, our next target will be the 0.5 fib level that serves as a huge resistance for WEED. Bulls have tried multiple times to breach it but without success. And until that 0.5 fib level hasn't fallen, we won't see any run soon. Any thoughts ?
TSX:WEED
by Raw_Blitz
WEED clearest on the 4hrWEED has an inside bar on the daily and the daily chart is a little clearer here than it is for CGC but I still prefer the 4hr chart for the big picture. Our key support is 60.55 and key resistance is 64.99. I'm very impressed how well the entire mj sector is holding up in the face of market weakness. That said... For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:WEED
by McGuireTO
WEED is indecision defined WEED wasn't trading yesterday so I'm looking to CGC for much of my information. CGC today printed a daily inside bar and intraday we saw very choppy action. I definitely did not expect this after such a strong day Monday that broke daily resistance. Today's volume is in line with yesterday's volume , which is also unusual for an inside bar day. RSI is back within the descending wedge pattern after rejecting from the attempted breakout yesterday, so the hidden bullish divergence on the MACD and RSI hasn't yet, in fact, played out. The key daily support to keep the bulls in control is 60.14. The key daily resistance to break to see continuation is 66.19. The gap-up bull break with no followthrough is concerning and had me looking for a wedge , but I find it difficult to draw a wedge pattern. While the American ticker has more of a parallel channel, the Canadian ticker definitely has an ascending wedge to watch for. We are now a full month without seeing two green days in a row. Every red day we see between now and legalization is a significant strike against the possibility of seeing all time highs into Oct 17th. By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
TSX:WEED
by McGuireTO
3