CGcKeep a close eye on 25.77 level. We could get a bounce here, a small run up and a second retest. If we do get a nice double bottom on this area, it could be creating a nice inverse head and shoulders
CGC trade ideas
CgCCGc got a perfect bounce off of old pattern breakout! This should be pretty damn bullish!! Wow glad I saw this! Could still retest it once more around 25.03 so keep your eyes on this!!!
CgcIf this 100EMA weekly support can’t good 21.57, the old channel support could be the most bullish buying opportunity. Overall CGC long term looks phenominal
CgcHad a week td9 red flash and has been correcting hard. I’m watching the RSi for a bounce at 24.03 but overall this could come down to 22$ level. I see an overall inverse head and shoulders forming on the longer time frame and feel this right shoulder is forming Keep a close eye on the 24.03 level which is the 100 weekly EMA support. This could b the slow down point for cgc. I plan to load bags at 21.50$ level, but if we are seeing a round off on weekly rsi on this 24$ level I will change my target
CGC Lost Daily MA21Lost the degree. Looking for a correction. Possible bounce at $23.50-$24 zone, then up for a lower high.
Retracement for WEED ?I think this stock could retrace more before looking for a next up side move... However, if price continue to fall I think the stock could find resistance at my 61% fib retracement and will have trouble to fall lower due to the upside momemtum that we see for this stock and for the majority of the weed sector. If we see price moving in the up to my «green zone» i will look to find a entry for a up side move (Retest /breakout) of the zone.
But again, for now, I expected a further down side move.
CGC - Never Looked Macro BullishThose of you that have followed me for a while, know that I am long term bearish CGC for two simple reasons: overvalued and corrective structure.
CGC made an ABC off the March lows, which suggests that we should expect at least one more low before a sustainable break higher.
We lost the degree for the impulse wave up. We were anticipating a move to the $32-$35 range, but bulls are running out of time and support. We lost the hourly MA50, price action moved outside the bullish channel. There is a chance that wave 5 truncated at $29 resistance.
Daily charts show a bounce on MA21. The way I see it, is that losing Friday's low next week (losing the daily MA21) would see continuation to the downside.
Either way, as I have clearly shown in previous charts, when this current move reaches its top, I am expecting a retest of at least the $18-$20 range. This assessment is valid for ALL Canadian assets that made an ABC bounce off of March lows.
$CGC $WEED Marijuana Just Federally Legalized!!!!! With the federal legalization, Canopy will be on it's way to become a behemoth in the industry, buy on any weakness. They will have a bright future with Constellation Brands backing them. Watch for these resistance areas to be broken in the future. We are on the way back to the top. Get in while you still can.
CGC SWING!! - CGC looks to be a nice bullish swing
- It has wicked resistance and gapped trends, breaking trends left and right
- Strong key levels
- MACD shows a bullish indicator
- Stoch RSI displays a neutral position, stock is not overbought or oversold at the moment
SWINGS ATM or SLIGHTLY OTM!! GOOD LUCK TRADERS!
$CGC Canopy Growth Corp Gap fill Trade Monday
CGC is the among the outperformers and fundamentally strong Canadian companies within the sector.
That is reflected in the stocks performance since the Oct lows.
Its USA exposure through $STZ makes it a very good way to gain exposure from USA legalization.
Potential trade for Monday is the Gap fill to $31.29 and if the Market is ultra bullish $34.15 is the next major target .
Care needed as the stock is overbought.
BREAKOUT CUP AND HIGH VOLUM BUY CGC ABOUT 29.40$Canopy Growth Corp. (NYSE:CGC), the Canadian cannabis and CBD products company, seems to be experiencing a turnaround. It wasn’t that long ago that CGC stock was in the doldrums and its outlook was quite dark.
But now it looks like the company’s prospects are much brighter at least for the near term.
Moreover, in the past year CGC stock has risen over 34% as of Friday, Nov. 20. And year-to-date it is up 12.5%, most of which happened in the past month where it rose 25.6%.
1% CAPITAL
$WEED $CGC Stocks is picking up momentum agian!$WEED $CGC Canopy Growth is picking up steam today and is heading towards first level of resistance around the $39-$40 CAD Level. The next two major resistance levels are around $50 CAD and $70 CAD. The resistance lines are on the charts, it would be same on the CGC charts. The best way to play this is if you are already in it, take some off at each resistance level and let the rest ride with a tight stop. I am currently selling puts slightly OTM to try get some shares back cheaper for the longer term. Vote is next week, should see some volatility.
Long-term bearish + short-term bullish = sell!Ever since CGC’s massive over performance in mid-2018, caused by Constellation Brand’s huge buyout, giving Constellation a 37% equity stake, Canopy’s stock has been falling. In 2020, the stock has hit a pretty bad low, taking a big blow in 2019 and falling even further from the shutdowns. Now, all of the sudden, starting around October, it began a bullish trend; however, I believe people will began to think that it’s overvalued soon. So, sell while you can!
CGC - Look for a break out or a fake outCGC isn't the only cannabis asset with a weird looking impulse wave. At this point, I am considering if perhaps we're looking at 1-2-i-ii setups or something different entirely. Will have to reassess when more data is available.
Regardless, traders understand that we're looking for a break above local resistance, with volume. Next resistance around $26. Breaking out of this zone would be extremely bullish in the short term.
Those of you that follow me, know that I don't like CGC's valuation. It is much more overvalued than its peers. For some reason, still today, American news outlets reference CGC each and every time there is news on cannabis. MSO's are completely ignored. Is this the power of Constellation Brands? Based on this assessment, my game will remain to just trade this one. I won't stay long at tops and I won't be afraid to miss out. CGC is a cash burner, but also a revenue monster. Losing money with close to $100M per quarter. I strongly believe that CGC is not in the clear, and should not be considered an investment. Look for improved fundamentals, or one final low, before going intra year long.
My 2 cents. Given free.
Cannabis CGC - where will it go This is just to keep track on my investment
Not a buy or sell recommendation
Disclaimer : have this stock
CGC ConfluenceShort term bullish, long term bearish? Rarely seen such exact confluence. $30? $35? Ridiculous valuation for this cash burner. Trade, don't invest.
