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CGC

WEED weekly analysisWEED WEED is in a broad bull channel with good buying pressure and no strong reversal yet. The bears recently attempted to form a lower high, but prices are stalled at the EMA and set up a nested high 2 /wedge bull flag. The bulls have a breakout gap below around $47.50. If it remains open, prices will likely test the all time high. A new all time high could form a wedge reversal down, at which point bulls will likely take profits and wait for two legs sideways to down before buying again, unless the reversal is strong.
TSX:WEED
by tradersmentality
TLRY Weekly AnalysisTLRY TLRY had a strong bull rally soon after it went public but formed a buy climax (tail). Since it has been correcting down to test the bull breakout. The selling pressure is not great and is accelerating, possibly setting up a wedge bull flag soon. If the bull gap from around $35 stays open it will increase the chances of bull trend continuation. If it is is filled, prices will likely test the tight trading range below and is more likely to enter a trading range.
NASDAQ:TLRY
by tradersmentality
WEED/CGC breakout BullflagCGC/WEED is moving toward previous resistance, $64-65 has been the territory of many false breakouts. This recent catalyst that reversed the downtrend may allow it to move past previous resistance, Merill Lynch initiated coverage of CGC/CRON/ACB, also at the same time CGC bought Acreage Holdings which was 3.4 billion dollar acquisition. This was a big catalyst but more so was the Merill Lynch coverage it spawned a huge interest from new investors. Big volume event with 4x normal volume. I will purchase options if it beats $65 and sticks. Target is $74 for me. Probably going to play this with a Debit Spread $5 apart. 6 weeks out. Lets see how it plays out. Paper trading this event. This isn't trading advice just a journal on tradingview.
TSX:WEEDLong
by Synaptic724
2
Bull flag pattern on CGC. Could look to move higher.CGC is currently within a very clean bull-flag pattern. We also have the 100/200 day moving averages right around the bottom of the bull-flag. I will be looking for a break-out above the descending line of resistance, and if we get that with some conviction, we could see CGC run back to previous highs around $55-60. Moving average guide (All daily for this post): 50 day moving average in Green. 100 day moving average in Yellow. 200 day moving average in Red. Entry: $40.00-$45.00. Target 1: $51.00 (top of the flag-pole.) Target 2: $56.60 (prior resistance level.) Target 3: $59.25 (previous peak.) --Not looking for any further targets after target 3, as a break above $59.25 would take CGC into a new price discovery phase. SL: $38.25-$39.25 depending on risk level. (Below the 100 and 200 day moving averages. Just be aware of wicks.) -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
CLong
by Deftsuo
1
$CGC: Good buy entry here$CGC has reached support at the bottom of the 'Jeff Sessions resignation' key level. There's an active monthly uptrend, daily is oversold and making a higher high above a previous day high, whilst RgMov shows an active daily uptrend, so this would qualify as a valid long entry. You can risk either 3 daily ATR down, a drop under this last daily lowest low, use a monthly mode stop loss @ 25.28 for sizing, or size it for a long term position with 1-10% exposure and no stop. Best of luck, Ivan Labrie.
CLong
by IvanLabrie
ACB & CGC: Trending?Both these stocks have massively bullish monthly charts, and are probably reaching the euphoria phase where investors pile into them like crazy, forming a blow off top, followed by a lengthy consolidation after the bubble peaks...Daily charts give excellent trading setups using 'Key Hidden Levels' and 'Time@Mode' Techniques, created by my mentor, @timwest. I'm long from this zone, was long from 6.26 on $ACB, and sold at 8.08: Was long $CGC from 47.4, and sold at 49.33, then bought back recently near support, selling in profit on Friday once again. We reentered today, and looking to profit from the next uptrend, that might confirm if $ACB earnings make the stocks gap up tomorrow. Tread carefully, this trend might be similar to jumping into crypto by the time $BTCUSD shot from 10k to almost 20k in late 2017. Retail traders starting to get involved, institutional investors getting more confident and adding. Best of luck, Ivan Labrie.
ALong
by IvanLabrie
CGC looking goodWith all the hype behind us, we're back to normal. Still a lot of room for consolidation. Looking at the long term, we're back inside the organic growth channel, which has provided support for as long as Cramer was pumping, but is now likely to provide resistance again, as CGC is trying to make sense of what they are doing. FIB levels on watch, long term wedge still in place, while we wait for significant news or results that will justify a sustainable break out toward analyst targets.
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by Barkworth
6
CGC continues to tighten in Equilibrium PatternCGC is currently in a very tight equilibrium pattern. Although these conditions are not ideal for active trades or anyone looking to trade short term, they are ideal for those of you whom are patient and are willing to wait for a break to enter a short/long position. Equilibrium patterns are my favourite pattern to trade from upon breaking as there is generally very significant movement to whichever direction it breaks. Please note, although not textbook due to amount of time, some may argue that this is a bull flag scenario. I will keep everyone updated as to what positions I open for CGC.
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by CryptOReilly