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CGC

CGC Long - Easy Bounce Back Reversal From Pre Earning FOMO $17+Previous bear resistance is now bull support. Marijuana stocks are just too strong. Ignore the noise and play the charts. Anyone that bought marijuana stocks in the 2018 hype phase post Bitcoin and the crypto boom knows that Tilray was the hype and CGC was the anchor. Retailers don't care about market cap; they only look at price. Tilray is now past $10 and CGC is back to $16. It wasn't long ago that Tilray was just $2.50 and ACB was $0.75 pre reverse stock split. The ACB rampage made us all lot of gains as we bought up call options for every other marijuana stock. In this pullback, we are just putting some of those profits to buy the stock. Aphria is now on NASDAQ to lift all boats.
CLong
by FleurdelisFX
1
[CGC] Indicators Were Correct... Fell Right Back to Down TrendNo trend updates, here, original idea holding up pretty good. Lets see how it plays out. Bit surprised CGC couldn't bring anything to the game for earnings, they really are a fundamentally strong company, but here's what happened if you're curious. The ACB earnings FOMO pop pushed the entire market from great value to poor value in one week. Every buy above $17 seems to have been a small pre-earnings FOMO. Can't feel too bad, it was a smart hedge just in case of a pop and the long term value here is still solid. Whole segment still overvalued will continue slide not really worth updating any of my ideas at this point. Maybe looking to load up around $12. Will come back around once we get mid-way through June when we get back into good value range. Stay tuned and happy harvesting!
C
by ProfitHarvest
ACB Supply and Demand issues in weed 17 states allow for a small personal grow while 11 states allow for recreational use. Currently states favor you minding your own business and growing your own weed over you going out and buying weed in the public's eye. 21 more states allow for medicinal. 18 states are holding out. CBD is everywhere but it feels kind of in the trendy vitamin arena. Maybe that will change with Covid but I don't see a rush to market here by consumers. Weed would have to tap the medical profession outside of psychiatry and cancer. "Weed is for crazy people, dying people and hippies" Can Covid break this mindset? I don't see recreational weed breaking through into more states anytime soon. Weed stocks have a huge supply and demand issue and as long as states support grow over recreation, that's not changing. This industry continuously over throws their target. We'll see some nice pumps from Covid news though and may be worth swing trading. - Smoke a bowl and support your local farmers
AShort
by zephin
1
Bullish Weekly Chart - Earnings PlayBullish weekly chart... On March 16, 2020, the stock hit a low of around $9.00 and spiked up to where it trades today. As of today, the 5-Day MA crossed up and over the 20-Day MA - Bullish Volume is Bullish PMO is trending up, Bullish MACD is trending up, Bullish RSI is trending up and above the center line, Bullish Stochastic is trending up, Bullish Accumulation is trending up, Bullish If earnings are good tomorrow, the stock should continue its upward run. Please do your own research. This is not investment advice. I am simply looking at the weekly chart in which everyone has access to. Thank you and best of luck with your trades! DISCLAIMER The Content herein is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
CLong
by HotCharts
2
[CGC] 'Locally' Overpriced, 'Globally' Good Value + Earnings!Earnings is tomorrow and unfortunately the price didn't slide as much as I had hoped. It recently broke and held above it's current upward channel and overall the cannabis sector should continue it's long term slide trajectory into summer, very high sector gravity, which is why it's locally overpriced. Also all indicators are leaning toward sell right now so kinda weird time to buy. If CGC pops, expect others to follow to varying degrees and look for good sell opportunities sector wide. Likewise, if the news is particularly bad all around, the whole segment will drop but that seems unlikely tomorrow. CGC is a top three cannabis company next to OGI and APHA and is much bigger than those two. Local value isn't great right now but long term the price is still pretty good and upside potential on earnings tomorrow is huge if they beat any expectations at all. They will release their earnings data before market open tomorrow so get in today if you're expecting a FOMO bump and then will have a call mid day, both events tomorrow could rock the price up or down but given the sunk costs in this stock and never ending cannabis FOMO, it is most likely to spike up. Will probably try to sell off 40-60% of my stake tomorrow if it does spike and wait till mid-June to really load up the cannabis sector at better value. As an aside, I do expect the overall market to begin it's crash tomorrow, leading into first week June bloodbath, so I mostly likely will flip back to hold by market close Friday and wait for the next buy opp. Let's hope for a bountiful harvest tomorrow!
CLong
by ProfitHarvest
8
AHPA - All Eyes on CanopyFrom what it looks like to me, APHA needs an impulse to break key resistance around $4.30 and try for weekly resistance around $4.80. She is packing energy right now, and I am expecting $4.10 resistance-turned-support to hold. A break of this support may see a retest of $3.89. There is no telling if wave 3 is complete yet, though. CGC reporting earnings tomorrow. I expect this to be the catalyst to provide direction for the industry, just like ACB's beat pushed the market last week. Levels on watch :-)
A
by Barkworth
Is WEED trading in a Bullish Flag?Potentially a Ascending Triangle as well, but we haven't seen a retest of the blue upward sloping support, instead Canopy has created a series of higher lows forming an inverted head & shoulders, next week will confirm the trend. An inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs. An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends An inverse head and shoulders pattern, upon completion, signals a bull market Investors typically enter into a long position when the price rises above the resistance of the neckline. Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle, but is also often angled down away from the prevailing trend. Another variant is called a bullish pennant, in which the consolidation takes the form of a symmetrical triangle. The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole. It is important to note that these patterns work the same in reverse and are known as bear flags and pennants. An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming. The trendlines of a triangle need to run along at least two swing highs and two swing lows. Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. Although, this won't always occur. A breakout in any direction is noteworthy. Time will tell I suppose.
TSX:WEED
by ScotianBot
1
[CGC] Breaking through Resistance... Be Patient and Buy Cheaper?CGC made some nice moves and unfortunately didn't stick to the downward trend I was hoping for. Added in some new resistance lines here. The timing here is crazy, trying to thread a damn needle through this craziness haha. As much as I wanted to get in before it broke the $17.50 resistance, I held off because I expect the overall market to collapse down next week just in time for earnings. It's gonna be close and I might end up having to load up at like $21 (not ideal but it's still gonna be a smart play but if we luck out here, it'll crash back to around $15-$17 at least next week and create a perfect buying opp right before earnings. This is likely gonna pop above $28 resistance (assuming there is something decent coming out of earnings like with ACB). Targeting a 50-100% ROI on 40-60% of my CGC holding this swing.
CLong
by ProfitHarvest
[CGC] Peak - Short Term Short Setup.. Hold for Pre-Earnings BuyWent back to the drawing board a bit and I'm gonna call this as the rough CGC peak. The POC (white line) for the year is too far away, the RSI and VPT as RSI are both screaming sell, the MACD is near highs and seems to be running out of steam, the long sting of positive Volume bars can't maintain without more fuel. Despite all this I think we'll be lucky just to get back $17 before a FOMO pop on earnings so I'm kinda just splitting hair here haha.
CShort
by ProfitHarvest
2
[CGC] Get in Now to Ride the FOMO Earnings WaveCGC is a much higher quality company with much better fundamentals than ACB, which just popped 200% on earnings last week. CGC is better priced than ACB already though so if earnings show any life at all, I'm expecting more along the lines of a 50-100% increase maxing out around $26. Great sell starting at $22 for an earnings swing trade. If earnings are particularly bad we may retest lows before next earnings but probably won't ever get below $10 again. I suspect investors (i.e. the FOMO crowd) will take any shred of good news as a huge bull signal and pile in before overall market weakness collapses the stock, same like ACB. Industry gravity is high, market gravity is high. Anything around the POC (white line) is pretty solid value here and is where I'm looking to load up on more, expecting some retrace as the ACB cannabis industry bounce fades and the overall market slows heading toward earnings.
CLong
by ProfitHarvest