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CGC trade ideas

$CGC 2021-MAR-04๐‚๐Ž๐”๐‹๐ƒ ๐‚๐†๐‚ ๐๐„ ๐Œ๐Ž๐‘๐„ ๐’๐“๐ˆ๐‚๐Š๐’ ๐“๐‡๐€๐ ๐๐”๐ƒ๐’? The price as closed below the rising channel; however $30 horizontal support is yet to be touched. Given where the RSI is at the moment, and with that support - it should be reasonable to expect a recovery bounce is due. Alternatively, a close below that key support is going to create some selloff pressure.
NASDAQ:CGC
by Moon_Rocket_Capital
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
NASDAQ:CGC
by BDRTrigger33
1
Governments around the world will soon officially "sell" weeds notes from BOA Global Research before its earning on 02/09: " FY21 has been a transition year as it resets its strategic focus, rolls out a new organizational design and implements operational and supply chains productivity prgms. We look for a progress update on its reset, COVIDโ€™s impact on its business, strong growth in the value segment, along with a review of its cannabis 2.0 pipeline and thoughts on US legalization. On Nov 20, mgmt indicated its plan to provide medium-term targets in 3Q21 results in February."
NASDAQ:CGC
by KhanhC.Hoang
$CGC 2021-FEB-17๐ˆ๐ฌ ๐‚๐š๐ง๐จ๐ฉ๐ฒ ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐จ ๐ ๐จ ๐ฎ๐ฉ ๐ข๐ง ๐ฌ๐ฆ๐จ๐ค๐ž? The news last week was largely about the 'wallstbets effect' that was taking place in the weed stocks; and while a lot of that is true - it misses some underlying truths about what was happening in the sector last week. It's biggest other news event last week was the CGC earnings report. While the report was mostly similar to their previous earnings reports, it did point to a belief that many long term holders believed in. CGC is closer to profits than many people realise. Now those profits won't be next quarter. They probably won't even be next year. But they are trending in a direction that should confirm their standing as a powerhouse in this sector. From a technical standing, once the noise washed out, we saw a return to the middle of the rising channel. To keep the candles within the channel we are using an extended +/- 3 bound compared to the usual (and preferred +/- 2). This increase in the bounds suggests that this is more volatile than more mainstream stocks, which makes sense given it is an unprofitable company in a niche market sector. The pullback at the end of last week also saw a significant drop in the daily RSI. This has set up a hidden bullish divergence against the spot price - which has not fallen as far. Volume remains up, with on balance volume favouring the bulls right now. Overall, if you are an aggressive trader; this is a solid position to look for entries - if you are willing to absorb the potential ~15-20% downside. For the more cautious trader, prices around the $36 range (if that happens) are a bargain basement buy - but you may miss the boat and need to wait for the next trip.
NASDAQ:CGC
by Moon_Rocket_Capital
2
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.
NASDAQ:CGCLong
by UnitedTrading