CGC
CGC Why NotOvervalued as can be, but brilliant marketing will always pump this one with the broader industry. I was looking for a pull back to go long, as I didn't have a position from before, apart from some gains from individual trades. I bought into weakness today, lets see what she can do for me.
CGC retest of downtrendWonderful retest at panic selling yesterday. Found demand exactly at the diagonal.
That said, who remembers my bearish stance on $CGC, just 6 months ago, I predicted that we should wait for $CGC to dilute their float to raise cash. Yesterday announced issues of common shares to raise $2B.
How will investors react? Their market cap is ridiculous, don't think they are raising cash to buy assets. They need this money to survive.
Cgc down till earnings My observation of $cgc
All the news of pot stocks is only good news for who ever comes out with the next approved medical use.
It's great news but companies are not close to getting fda approved let's say this month so that is why I'm calling short. I bought 3/05/21 43 puts
And bought 2/12/21 43 puts
If it does breakout tomorrow I will sell all.
Futures are looking bad for the night so looking for a sell off tomorrow.
Timing Exit of $CGC Dip: Profit-taking on PutsThe entire corporate cannibus industry has really crapped the bed, along with most other sectors, over the last two-wks.
Those with long puts could have already successfully taken profit, as it could find support at the bottom of the highlighted (maroon) target range.
Those with puts should be plenty green, but there likely will be some support near the bottom of the target range due to the long-term potential of the industry and CGC itself.
-BDR
Lotto Ticket Play, Highly ManipulatedJust something I remembered from a few years back. Love that tradingview play button, so figured I'd post the look just to see what will happen. Noticed it was moving.
Back in 2018, for awhile it was the darling of speculatives in the weed stock sector, rising from sub $1.00 to $15.00. That was back when TLRY blew up the stock market.
They recently entered into a deal with Benchmark for a $75,000,000 ATM offering. Again, there's probably much better plays out there; just posting the view -- not really bullish or bearish..
Cheers and good luck.
CGC Starting a count here.Broke out from a large base, should still have some juice in it. Target around $75.
[TLRY] 2021 Cannabis Market Roundup: TLRY and APHA Lead the Way!Cannabis feels so meta sometimes.
TLRY leads a 10x market run and then collapses to the worst performing Cannabis company in 2021 lol.
Man APHA definitely getting the short end of the stick here haha but they'll all make plenty of money slangin drugs together.
Wish I had done a mashup like this a long time ago, lots of fun data.
Here's how I've been betting it:
1. APHA/TLRY (TLRY was my #3 before the merger)
2. CGC
3. ACB
4. OGI
I threw in GRWG and CLVR here too.
GRWG is the shovels and pickaxes of this Green Gold Rush.
CLVR a new entrant that looks promising.
I have some other minor stakes but these are the Gems.
TLRY/APHA leading the pack with OGI coming out of left field recently to supplant ACB and CGC.
With OGI finally blowing up, that makes CGC the best value play right now. At similar value, CGC much better company than ACB.
Lookin to pick up another load around $23-$26 and we're back on the hunt for that double top ;).
APHA and TLRY are priced pretty well here, OGI lookin pretty overpriced. Rest are underpriced.
CGC: How to trade it!We are still in an uptrend. However, if we fall below the first support line then we could see it fall to $37.35 then bounce off the strong trend line for another try up.
Plan A: I chose to use a Pennant style pattern here(Cyan Color) So if the stock moves above the top of the pennant then we should see a breakout. The top of the channel is $48.00 so it is possible to see it go there.
Plan B: If we fall below the bottom support I see us slowly going down to the $37.35 mark. (See the orange line on the graph.) Once we hit this mark this would be a good buy in point as this is a strong support trend.
CGC - money really does grow in the canopy!Buy the dip.
Just wait for that buy signal to fire and go long. Additional confirmation is the macd cross while stock stays above 200ema. Cheers! Grow!
“In forest ecology, canopy also refers to the upper layer or habitat zone, formed by mature tree crowns.”
Cannabis Sector Short Atack A short video on what happened todayin the cannabis sector and how to read it on level 2.
Enjoy!
Which Cannabis Stocks make you more High..?It is obvious in the last 6 months a new trend started in most cannabis related stocks and most of them rewarded Theron shareholders with decent rewards..!
The front runner so far was sundial grower with +440% gain in last 6 months followed by Tilray, CNN, and Canopy.
In my view sundial and CANN can reward their shareholders with higher profits not because they are fundamentally better companies, but because of their lower market cap..!
The question is what kind of experience are you looking for???
This is just my technical view, and I wrote this because I see these stocks gaining momentum..!
I don’t promote any cannabis consumption by any means..!
Moshkelgosha
CGC the money burner
The leader by market cap and by quarterly losses broke out from downtrend. We should expect a retest at some point. Current price action looks corrective.
[CGC] Will be Loadin up Before Next Uptrend CrossThis is now my number two long term growth pick, recently supplanted by the winning APHA/TLRY combo. Still a better company than ACB by a good margin. OGI best value and ACB next best value though, these two been in the trenches for most of 2019 relative to the overall industry.
HEXO and SNDL still strugglin but holdin up OK, also great value there but much riskier. CRON has been very quiet but holding at a steady level at least.
I'm really loving my IIPR, YCBD and VFF pickups from a few months back too.
Kickin myself for missing GRWG, waiting for better value now.
OGI (OrganiGram Holdings Inc)OGI is a Canadian Cannabis company. Covid slow down has obviously hurt the business for OGI . Ontario and other major provinces are now getting licenses out faster to people so this could provide a catalyst. In addition to this the blue wave, and NYC's Cuomo's positive comments about cannabis have me willing to take a shot on this. Monthly levels of interest are marked with green lines. Falling wedge in the process of playing out I am aiming for somewhere $3+ longer term.
Tlry 4hr chart Possible formation of an uptrend channel as the price moves to test the ipo price with surging volume, and possibly move higher as weed legislation becomes imminent.
TLRY close above 50smma on the weekly TLRY has closed above the 50smma with surging volume this could mean the start of a new uptrend as marijuana legislation becomes imminent.
