CGC (canabis) before 70% reduction.CGC (canabis) before 70% reduction. The exchange rate may be ahead of a fractal copy. Technically, this may mean that the percentage is the same, but due to logarithmic scaling, its amplitude will be half that of the original fractal. In the event that the assumption is correct, the exchange could build another declining wave structure with a target price of 5.78usd.
CGC
LONG ACB AURORA CANNABISBuy low sell high. Showing signs of a bottom. 2018 4.00 support level looks to be tested which computes a 50% upside from current levels. Could experience an echo bubble type move like other equities have in the past. Pot stocks starting to get a little more attention recently.
WATCH OUT FOR A BREAK ON MONDAY 12/23TICKER: $CGC
Will history repeat itself?
Just like last time, CGC is again a daily inside bar with resistance of $20.28 and support of $19.65. I do expect high volume on Monday, but the break is uncertain until it happens. Don't be bias and watch the charts because price action is KING.
I will be watching CGC closely next week and again, will either go long or short depending on how we break. Give me 15mil volume in whatever direction and I will be happy.
But looking longer term, this is a daily inside bar within a weekly inside bar. Depending on how we break on Monday, it would impact how we break on the weekly time frame.
No matter how we break on Monday, my next target will be the weekly resistance and support of $21.14 and $19.45.
Good luck next Monday, don't let your emotions get the best out of you, and remember PRICE ACTION IS KING.
CGC - Swing Idealooks like a good setup for a swing up towards 40s - Market sentiment seems to be slowly changing. Farm payroll on watch w/ fed still dovish.
Pot industry still a few years ahead of itself - so trade wisely. I see this as a win/win, if the market turns - it's a solid spot for a beginning entry position and I'll plot out a long hold - IMO.
Been riding the volatility but love when everything starts to turn - or appear to. It's buying time!
GLTA
OPENING: CGC JAN 17TH 15 SHORT PUT... for a .92 ($92) credit.
Notes: A high rank/implied (76/78) underlying with earnings in the rear view mirror, excellent liquidity, and that's been beaten down on "weed sector weakness." Cost basis of 14.08 if assigned. Go 7.5/15 and you'll get some buying power relief in a cash secured environment, while only giving up .12 in credit to do so (it's currently .80 at the mid).
Canopy Growth: inverse head and shoulders on the 4hrThis is a very apparent inverse head and shoulders on the 4hr time frame. The stock has been butchered in the last few months. Seems like since the new CEO announcement, the stock developed this inverse head and shoulder bottom. It's currently sitting right on the neckline. Watch for a breakout on the neckline.
Canopy Growth Corporation inverse head and shouldersWhile we are not seeing divergence on RSI, recent bullish news in cannabis industry are gearing up buyers for 2020. Current resistance is a good confirmation level for a buy. Targeting 30, stop below the recent swing with a buffer of your choice.
Good Luck!
CGC Inverse Head and Shoulders? Staunched Neckline!Hello Traders!
Today’s chart update will be on CGC – Canopy Growth Corporation, a potential inverse head and shoulders could be at play in this strong downtrend…
Points to consider,
- Bearish trend with consecutive lower highs
- Neckline as major resistance
- Support provided by the EMA
- Stochastics in upper region
- RSI in rising wedge
- Volume increasing
The overall trend of CGC has been putting in consecutive lower highs, if this inverse head and shoulders come to fruition, it will be the first sign of a trend change, a new higher low.
Major resistance is found at the neckline, tested multiple times, this is a clear level for the bulls to break. Support is being provided by the EMA’s, needs to hold as CGC tests neckline.
The stochastics is in upper region, can stay trading here for an extended period of time, however lots of stored momentum to the downside. RSI itself is coming close to its apex; a break down to its support (blue line) is probable. Volume overall itself is increasing, needs to sustain as this will help with follow through when and if bulls break the neckline.
Overall, in my opinion, the right shoulder will be valid as long as it trades in the orange highlighted zone. CGC needs a convincing break of the neckline that needs to be backed with follow through; this will then change the structure of the overall trend.
What are your thoughts?
Please leave a like and comment,
And remember,
“In trading, everything works sometimes and nothing works always.”
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CGC Long NOWMr. Pips says you can long CGC with very little risk here.
Mr. Pips' proprietary indicator shows you that the price was strongly rejected at the Main Trendline. This is a clear indication that the price is going to go up! There is no other indicator available that will show you these important price zones. This is NOT Murrey Math Lines. These are NOT auto Fib levels. There is no need to spend hours on end doing extensive research or trying to read news reports when you have the right tools at your disposal!
Mr. Pips Quote of the day:
"Man is a Tool-using Animal. Without tools he is nothing, with the right Tools he is all!!!"
Mr. Pips wants you to have a blessed and profitable day!
Disclaimer: All information provide by Mr. Pips and IgetPips.com is for educational purposes only and is not intended to be trading advice or trading consultation. You are responsible for your own personal finances and trades!
CGC getting very tight. Expect high volume tomorrow 12/9/2019Ticker: $CGC
Daily inside bar with very low trading volume on Friday 12/7/2019.
This is because CGC is announcing a new CEO on Wednesday 12/11/2019 and both bulls and bears are uncertain about who it's going to be.
None the less, I expect a volume spike tomorrow as the range is so tight. The break is inevitable and potential leaks or inside information could
be part of the volume tomorrow.
Depending how we break the range tomorrow, I will plan to take a trade; bullish or bearish (if shorts are available)
CANOPY GROWTH CORPORATIONOn a daily basis, CGC shows a clear downtrend.
The downtrend was recently broken, but volume is really thin, so it can not be interpreted as a trend shift.
Stochastics in clear sell condition as well.
All signals show either sell or hands-off.
WNZ
Get live updates and analysis: t.me
Bull Flag or Descending Triangle.Since my post several days ago linked to this chart, you'll notice $WEED is holding the neckline area of the inverse H&S, forming two additional patterns known as a bull flag & descending triangle.
Seeing how the sector has thrown under the bus for the better part of 1 year, I'm expecting to see the Bull Flag play out.. Simply to go against the bearish narrative that's becoming a bit more hysterical by the day..
Time will tell per usual.
The Casino Gulag ModelShould we expect any less at this point. The federal reserve has pumped $3 Trillion dollars into the financial system on a cumulative basis since they announced they were essentially going to nationalize the repo market; we have have a President that goes on Twitter and 'Tweets' with the sole purpose of manipulating the stock market; we have Artificial Intelligence that can block people from spreading divisive messages that are critical of the established mainstream media narrative; we have Bloomberg News, arguably a public utility in the world of finance, openly admitting that they are not going to do any investigative reporting on Democrats; we have prisoners convicted of not only molesting children, but also pimping them out, suddenly "committing suicide" while on suicide watch; and the big 4 banks, who control 39% of total banking deposits in America -- the largest most powerful military empire in human history -- are allowed to engage in speculative trading activity with the insurance of not only the FDIC, but the federal reserve, an institution controlled and majority owned by these very same banks
So why should we be surprised by this lol. This is what happens in Kleptocracy's; corruption so egregious that it almost seems absurd, just like that "chart pattern"
A further 56% reduction in CGC (cannabis)... One of the best choices for long term investment. However, in my opinion, the exchange rate may fall further. Its level can be around 7.68usd. From that level, I expect a long-term rise. The analysis shows that a second fractal is being constructed. The shape of this can be determined by the first fractal. However, its size may be 1: 3. It follows that the adjustment at this level has not yet been completed.
Lower High.It appears as though the Inverse H&S may be negated. Where I've placed another arrow pointing down may become another lower high, and it may act as the left shoulder of a H&S.
Is Canopy trading in a Inverse H&S?Or was the recent move simply another lower high where i have the red arrow pointing down?
It appears as though Canopy may be ready to break the neckline of this inverse H&S.
The RSI may have double topped though, only time will tell.
CGC/Cannibals Stocks CrashThis correction is not over yet.
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$ACB 76.8 fib retracement done, -0.27 fib target.$ACB $CGC $TLRYBought a lot of ACB around $3 last week. Went crazy the week, but then retraced to fib 78.6
Cannabis 2.0 - chance to growFundamentals are now better.
Prices are better.
Regulations & Govs are more ready for it.
Early bottom assumtion. Confirmation + Adding on growth.
