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CGC

Daily Chart on $MJ Breakout or Fakout?The MJ Sector has been down-trending since March of 2019, still has yet to see a real bounce with a solid continuation. As of May 2020 it looks like we are ready to bounce but still, I am weary that they will do another fakeout breakout. Anyhow, I am expecting MJ's price to eventually break above these down-trending lines. They are still rejecting the price down, so we could see a pullback or a breakout above the down-trending lines as it looks like we are squeezing once again. Anyhow GLTA & Collect those sweet dividends.
AMEX:MJLong
by AaronX
CGC New Range| Structural Support/Resistance| S/R Flip Evening Traders, Today’s Technical Analysis – CGC - impulse move into resistance where CGC is likely to range trade. Points to consider, - Macro trend bearish - Resistance confluence - S/R Flip retest - RSI above 50 - Volume climax CGC’s macro trend has been putting in consecutive lower highs with a recent sell of ending with an oversold bounce. Currently testing structural resistance which is in confluence with the 200 MA, a rejection is probable. This will likely lead to a retest of support, confirming the S/R Flip RSI is above 50, cooling off from oversold conditions whilst the stochastics is trading in the upper regions with a sell cross coming to fruition. Volume climax is evident, indicating temporary bottom may be in as CGC finds its equilibrium Overall, in my opinion, CGC is likely to trade in this range before another impulse move. CGC’s general immediate trend can be determined by the break of either of the key support and or resistance level. What are your thoughts? Please leave a like and comment, And remember, “In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee
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by AzizKhanZamani
4
CGC Breaks Above 38.2% Fibonacci Resistance Canopy Growth Corp(CGC) closed at $17.53 gaining $1.94(+12.44%) on the trading session today. Price closed above the 38.2% Fibonacci retracement level which had been acting as resistance for the past month and is bullish move considering how long it was pegged below the 38.2% level. While this is a bullish move, we need to see price close above the 50% Fibonacci retracement level which is where price hit resistance on todays move. The 50% Fibonacci level is the midpoint between the total Fibonacci range from the January high of $25.97 to the March low of $9.00. Price trending above the 50% level indicates a bullish trend while price trending below the 50% level indicates a bearish trend. Should price see more gains tomorrow that would be a bullish sign, but a move above the 61.8% Fib level is needed to signal uptrend continuation. Worth noting is that todays price candle closed green after nearly a month of gray price candles. Green indicates that price momentum is now bullish according to my candle color algorithm. The Relative Strength Index(RSI) shows the green RSI line rising above the 50 level which is the midpoint of the total RSI range. An RSI reading above 50 indicates short-term bullish momentum while a reading below 50 indicates short-term bearish momentum. The RSI crossed above the 60 level today which indicates that there is strong momentum behind price right now. The purple RSI signal line is also rising which indicates intermediate-term momentum is bullish as well. In general, you want to see the green RSI line rising above the purple signal line, and for both lines to be above the 50 level as a sign of bullish momentum. The Price Percent Oscillator(PPO) shows the green PPO line rising above the purple signal line, both lines trending up and both lines crossing above the 0 level. This indicates bullish momentum in the short-term as a PPO reading above 0 is considered bullish while a PPO reading below 0 is considered bearish. The Average Directional Index(ADX) show the green +DI line rising above the purple -DI line which indicates positive direction behind price when comparing recent highs to recent lows in price. The histogram behind the DI lines is still low which indicates relatively weak strength behind price. In general during a price move higher, you want to see the green +DI line above the purple -DI line and the histogram bars rising above the white dotted line at the 25 level as an indication of bullish strength behind price. The volume indicator shows that volume today was at its highest level since March 26th, and also in a recent trend of increasing volume. Rising volume as price moves higher is a bullish sign. Today’s volume bar is bright green and indicates that volume and price are both higher than they were 10 days ago and is considered a bullish price/volume day. Overall, the move today is bullish as price broke above 38.2% resistance, the lower momentum and trend indicators are all bullish, and volume is increasing over the past few days and broke to a new 1-month high today. The tentative stop-loss level for long trades is shown in blue and is just below the most recent consolidation lows prior to the breakout today.
CLong
by PrepForProfit
Consolidation Period Like how CGC is Reacting to Markets Crazy violent moves it is doing fine consolidating holding support of 20 ema while it hasn't found the volume to breakthrough the shorter resistance and hold there is strong support and no one bailing no mater what traders are doing i feel it should do well into earnings. as far as earnings they will not be looking so much at numbers as to forecast and i think Klien is making all the smart moves this is not being ran by stoners there is a serious numbers man in charge but i don't bet solely on numbers and balance sheets i was a fan of Blackstone in the low 20's several years ago when know one was interested Steve has Proven everyone wrong and so will Dave. watch the BBTighten if i where to trade Bollinger Band line, in the past upon heavy volume the 15min chart showed great entry right before it crossed on heavy volume usually made tremendous move...
CLong
by Cbnyc
1
CGC - Continued Cash Burn and Downsizing...With a market cap of over $5B, Canopy Growth is still considered the market leader by many. However, current downsizing activity and write-offs confirm a smaller than anticipated international market, still no sight of profitability, and thus, continued cash burn. We may see the current triangle break upward, and test resistance once more, but I strongly believe that those of us that currently don't have a position, will see better entry points. Hold your breath for a couple of months, and CGC will be below $10. I know I sound like a shorter, but I'm not. I want to get in on this for the long haul. That means I need to have an entry point when the market cap is more in line with the company's fundamentals.
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by Barkworth
CGC EquilibriaThe market leader by market cap. Earnings expected at the end of may, and estimates will have us expect another heavy loss. APHA surprised, however, and we can't ignore the fact that CGC too, reported an impressive increase of revenue with its most recent call. Still, I think that CGC, like CRON is a long term game. Volatility offers day and swing traders tremendous opportunities, but long term value investors such as myself, depend on finding the right time and valuation to get in. I want in on CGC, even though I don't really think that drinks are a thing, Constellation Brands is a lot smarter than me. I'm sure they have some sort of plan, but again, for the long term. CGC has been trying to break key resistance, but lacks underlying strength. The chart looks quite choppy, in my opinion. But if the top is in, there is some minor confluence on the down side. Going there wold create a reasonable M pattern and a confirmation. We'll see... Trade safe.
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by Barkworth
ACB - I've deleted it from my daily watch listThey expect their new shelf prospectus and reverse split to be completed on May 11. Based on last week's market cap, we would be looking at 35% dilution, but after yesterday's sell off, it is getting closer to 50%. I had a buy box for a bounce play, but for the time being, I will be avoiding ACB like the plague. ACB and CGC, they once were kings of a promised land, and then, it all went bust. My money is safe with APHA, XLY, LABS, VLNS, and the USA based MSO's. Not with Acreage though. Perhaps I sound cynical, but this is a tough time for cannabis investors, and it requires a tough attitude and strong opinion. I act on what I see, not on what analysts tell me. One even suggests ACB is still a buy. Fundamentals and business strategy are key, and both CGC and ACB are lacking, for the time being.
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by Barkworth
2
ACB UpsideAs shown on the chart since erly October,ACB has been traded below the green trend line on the daily. It finally broke above it this week,but follow through is yet tobe confirmed. On the macd side, divergence has been building up since early October too as shown by the green trend line. It is important to note that since the middle of May 2019, MACD has always been below the zero line and the upcoming blowout earnings could be the perfect spark to push it upwards finally after a whole year. RSI has also been moderately trending upwards too. Although it broke the upwards trendline for a couple of days during early March, it still has potential to be a viable signal to the upside. Also just like the MACD, since the middle of May 2019, RSI has been traded below the 50th mark except for a few head fakes. All in all I believe the longs will finally be rewarded and if Aurora comes clutch with a equity based partnership deal we will definetely be seeing a 10-15bil market within this year.
ALong
by fernandochristopher
9
CGC - I'm still not buyingI don't think drinks are where the money is. I also don't think CGC's footprint in the USA is all that impressive at the moment. The MSO's are making a killer with expansion and execution. CGC did manage to capture more market share in Canada, but looking at their revenue, cash burn, restructuring efforts, I think the market cap is still way too high to justify a position. I have a buy order at $8. If it doesn't get filled, then there are far better plays out there. My humble opinion.
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by Barkworth
TLRY 50? ESCAPING THE INELASTIC CHOKE FUTURE OF CANNABISGood evening Trading viewers, I present to you my second analysis on weed stocks. Is it a voodoo or a complex set of modelers in background or a mystic play of my mind. The infinity governance of time and space has played in part lower single digits. The axiom quantification of price says tlry $50, is it possible?!!! Stop loss 1$. We will see, maybe i am right or maybe i am wrong. Three years from now we will see and ponder about magnification of the ideas. Let the game begin
TLong
by Wallstmessiah
1
The Difference Between A Death Cross And A Golden Cross?What Does The Death Cross Tell You? The death cross occurs when a short-term moving average (typically 50-day SMA) crosses over a major long-term moving average (typically 200-day SMA) to the downside and is interpreted by analysts and traders as signaling a definitive bear turn in a market. The opposite of the death cross occurs with the appearance of the golden cross, when the short-term moving average of a stock or index moves above the long-term moving average. Many investors view this pattern as a bullish indicator. The golden cross pattern typically shows up after a prolonged downtrend has run out of momentum. As is true with the death cross, investors should confirm the trend reversal after several days or weeks of price movement in the new direction. Much of the process of investing by following patterns is self-fulfilling behavior, as trading volumes increase with the attention of more investors who are driven in part by an increase in financial news stories abut a particular stock or the movement of an index. Limitations Of Using The Death Cross All indicators are “lagging,” and no indicator can truly predict the future. Once & while a death cross can produce a false signal, and a trader placing a short at that time would be in some near-term trouble. Despite its apparent predictive power in forecasting prior large bear markets, death crosses also do regularly produce false signals. Therefore, a death cross should always be confirmed with other signals and indicators before putting on a trade.
TSX:WEED
by ScotianBot
CGC Key Levels| Weekly Support| Lower High| Low Volume Evening Traders, Today’s Technical Analysis will be on CGC, bouncing of its all-important weekly support, currently facing resistance from the 21 EMA. It must break daily support, or this is simply another lower high. Points to consider, - Macro trend bearish - Weekly support respected - Daily resistance is a key level - RSI coming of oversold - Stochastics projected up - Volume below average - VPVR Flat CGC has been putting in consecutive lower highs on its macro time frame, a strong established bear trend. Weekly support held promptly, a sign of being a true trade location. Daily resistance needs to break for a confirmed trend change, failure will simply mean a lower high. The RSI is coming of oversold conditions, will most probably return to its neutral zone. Stochastics on the other hand still has momentum stored to the upside. The current volume is below average, CGC needs an increase in bull volume to test daily resistance- it is looking quite weak at current given time. VPVR is currently flat, means low volume of transactions at current range, CGC could trade in this region for a while. Overall, in my opinion, CGC needs to break daily resistance, failure will simple mean yet another lower high, thus lower price levels likely. What are your thoughts? Please leave a like and comment, And remember, “Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” ― Yvan Byeajee
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by AzizKhanZamani
1
CGC getting slaughtered...and it was about time. This is the last one of the bubble to come down to Earth, even if retail investors insist on continuously losing money. Fundamentals don't support the valuation, drinks are a disaster and so is the Canadian market. Footprint is the USA is none. Acreage in shambles. It isn't hard to see that this is a crappy investment. It may take a long time still, but a gap down today is a good start. I will be a buyer at around $5. As long as it trades above $5, there are better plays out there.
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by Barkworth
2