Long
$CGC Breaks Out As Expected, More Gains Ahead
We said last Thursday that 
CGC was on the verge of a breakout and we were right on the money. With 21% of the float short, we expect further short-covering as the shorts get squeezed. We believe the worst is over for CGC and 2020 is shaping up to be a much better year for cannabis stocks.
Also with the US Presidential election coming up, expect some campaign rhetoric about full marijuana legalization. This will further create optimism around the sector.
As always, use protective stops and trade with caution.
Good luck to all!
CGC was on the verge of a breakout and we were right on the money. With 21% of the float short, we expect further short-covering as the shorts get squeezed. We believe the worst is over for CGC and 2020 is shaping up to be a much better year for cannabis stocks.Also with the US Presidential election coming up, expect some campaign rhetoric about full marijuana legalization. This will further create optimism around the sector.
As always, use protective stops and trade with caution.
Good luck to all!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.