cgc possibly found a bottom
As much as I hate the pot stocks. as much as i have lost in the past, i have learned a lot since then and I cant ignore this setup. With that being said it seems logical to me to respect the fact that the sector is beat down and hurting that got some decent news recently that may or may not come to fruition. However most of the other bigger name pot stocks seem to be resuming their downward trend but cgc is showing relative strength in this area. worth keeping an eye on.
If it gets out of this little congested area theres a good possibility that this shows some sings of recovery. It may fall down to the previous trendline resistance. the pattern would be invalidated if it were to fall through that trendline. i will take a half position if it breaks out here and add upon trend confirmation. If the past is any indication of the future I feel like theres a good possibility that it could run up like it did in the trendline on the left side of the chart as in the mid term. this is just for educational purposes this is not investment advice. do your own DD.
If it gets out of this little congested area theres a good possibility that this shows some sings of recovery. It may fall down to the previous trendline resistance. the pattern would be invalidated if it were to fall through that trendline. i will take a half position if it breaks out here and add upon trend confirmation. If the past is any indication of the future I feel like theres a good possibility that it could run up like it did in the trendline on the left side of the chart as in the mid term. this is just for educational purposes this is not investment advice. do your own DD.
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.