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CGC

Beautiful Bullish Pennant EQ -Break coming!Topside resistance: 48 psychological, break could lead to previous highs 50-55 range, up to 15% profit potential, if not ATH. Bottom support: 45 psychological & 43,71 previous Higher Low/trendline coming in. Break could lead to HL compared to 25.15, => further tightening EQ range on the Weekly. Watch for volume when break occurs, in order to avoid fake-outs. Good luck! ;) If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
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by Edgy_
CGC $50-$60 Cup & Handy, You Get Me? NYSE:CGC Very nice bullish signals here, especially with that flag formation, quasi Cup and Handle. I’m all about Cannabis stocks in 2019 for obvious reasons, considering the more liberal evolving regulatory environment paving the way. It’s all the Benjamins baby. I wonder if B. Franklin smoked cannabis.. Hmmmm. Options i got my eyes on: - July 19, 2019 $50, $52, $55, calls - October 19, 2019 $55, $60, $65 calls. Stop loss = $35. So think; If CGC < $35 = BAD. and cut your losses and bail.
CLong
by jgeno
TLRY Bear Break -10% Profits already!Dear Cannabis Sector friends! In our previous TLRY idea we had asked ourselves: Can TLRY repeat what EOS from crypto space did already? (See the link below) The answer is: Yes . And this is the beauty of Technical Analysis: No matter where you go, which market you wanna play, human psychology never changes. A beautiful descending triangle gets broken bearish, which was the most likely scenario -with 10% profits already. We have now reached the previous lows at 70 psychological and could definitely see some bounce going from here, since Hourly RSI is completely oversold. Also, always check correlation to sector leaders like CGC, CRON, etc. But should we keep going lower: You should be very comfortable with your trigger under 75,25 at the latest. Also key takeaway from here: We had broken the ascending bearish trendline earlier, and only after the price level break, we saw the flush incoming. While trendlines work good in the stock market esp. on bigger names, in crypto/cannabis space & with lower volume names, you always wanna see the Price Action & S/R level breaks. If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
NASDAQ:TLRYShort
by Edgy_
2
SHORT CGC RUN!!!Run for your life... JK In all seriousness this stock is and has been overvalued for a very long time. Charts starting to reflect this. With the failure to break ATH weekly close its starting to form a double top formation. Especially with this weeks candle opening below last weeks red candle it is adding to my confidence on the short. Ultimately the target is as highlighted in the chart but it is reasonable to take profits along the way. I will update the chart throughout the weeks.
TSX:WEEDShort
by andzd
The Cannabis Sector is coming!Hello my dear Cannabis sector fans, but also to my usual Crypto friends: Pay attention now! The legalization of Cannabis is coming from left an right, and obviously, what had started in Canada, will not just stay there. The US is the next huge market, and after that comes Europe. Some of the Canadian Cannabis companies have seen huge run-ups already, but this isn't the end. We are currently far from normal legalized consuming. So: Once my course comes out, I intend to do much more analyses to the Marijuana sector! Stay tuned :) Give it a thumbs up so other traders will see this important information! :) Comment it if you have another info or just want to tell your opinion! Make also sure to follow me so you get notified on my Crypto & Cannabis Analyses! I wish you a good trading! :) Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
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by Edgy_
WEED Symmetrical Triangle BreakoutAfter a few weeks of watching canopy and trying to short it. I've become convinced its going to produce a similar breakout from the previous rally. Jan 9th > The first breakout started. Support began then the crowd started to rally and it produced substantial gains for longs leading into the next congestion phase. Jan 14 - Jan 24 > The Bull flag congestion print which held selling volume and built up buying pressure to move it to a higher point. Jan 28 - March 7th > Symmetrical Triangle Breakout - Jan 28 hit a top then 67.99 Feb 4th. Earnings were on Feb 13 which showed poor EPS however revenue was stronger than last year which is what captivated the crowd. The continued support is due to the sentiment of the overall market. Participants believe its going to the moon. April 1st stores open. There is a good reason to be optimistic about WEED/CGC and the market in general. (Fluff) Feb 15 was light due to ER mixed feelings of poor EPS and high revenue from prior earnings. Hit a support level of $56.49 on Feb 25th. My target is within a few weeks for this to breakout like it did in October. Similar formation has formed. There seems to be strength behind canopy still. I plan to make this a mechanical trade and stick to what I've listed below. This is my analysis I think there will be a breakout happening shortly which will push it into the 70 levels in the next few weeks. This isn't trading advice just my idea. Call Contract expiring March 22nd Cost $3.45 Per contract. Target is $74 3 contracts Stop price is $2.2 Delta is 0.53 Full sell of all contracts at $56.50 as this is support if it breaks then my trade is wrong.
TSX:WEEDLong
by Synaptic724
3
CGC : Market Open TuesdayGoing out on a limb here, let me know what you think. I'm expecting to see a gap up in pre-market and continuation into the open. Especially since the price was pinned down at the previous close to burn the premium. Once we get past the initial 15 min algos going at it, I think retail will buy heavy sending the price upward through the remaining resistance levels and hopefully past the ATH. If we get to there we will break through the ATH as the RSI moves high into the oversold range and at this point retail will start to get skittish, volume will start to dry up, then most will sell for profit and we will retrace back down to around 51.98 towards the close. Otherwise it may go down a little. Disclosure: Don't follow anyone into a trade, especially me as I do not normally know what the hell I'm doing.
CLong
by DannyJack
5
Canopy (CGC) update: 30-60 days downtrend?Update of previous chart on Canopy. MACD, Parabolic Sar, RSI all looking pretty bearish and reminding me of previous chart action in the aftermath of the late 2018 price run-up. However.. the EMAs (10 and 30) haven't crossed over, and to me that would need to happen to confirm a steep downtrend. For now things are leaning bearish, if we see further confirmation in that direction, I'd be looking at 30 to 60 days of downtrend based on past price action. So targeting a buy in March or April - but where would I place my buys? + Diagonal trendline + Horizontal support Both of these seem like nice areas to put in some bids. Let's come back and see what happens.
CShort
by emotionallydetached
3