CGC trade ideas
Potential Buying Opportunity in WEED.TOPrice has fallen to a rising trendline and is consolidating after a false drop below a prior low.
IF (and only IF) it breaks higher out of the consolidation is this a potential long trade.
I like the consolidation because it allows for well-defined risk control, with a stop loss placed below the consolidation or recent low.
I also like that the Nov 20 low just barely eclipsed the Oct 30 low, and then quickly rebounded. In a long-term uptrend I like to that start of action in pullbacks, as it indicates the pullback may be near completion.
Still need to wait for a pop higher before I consider entering, though.
Disclosure: no position yet, but a potential setup.
Weed, is currently at a fair value priceMy Fair Value Theory;
My theory is that the blue channel is the "fair price channel" what the company should be worth, according to the market and price action. Anything outside of the channel is fair price plus speculation. The green line represents the average fair value as per how the market views the company at any given time.
My opinion (not that it means anything)
That's not to say I suggest it time to buy, we may continue to see some bearish movement until spring. The Cannabis industry now has a lot of supply chain issues to iron out. If they can Amazon the crap out of the supply chain, then we will see another bullish year, however, I see a lot of money leaving the sector, so now these companies will have to figure it out using profits. Now its time for Real business models to take action, not crazy people throwing money around like drunken sailors.
CGC Canopy Growth - Green Gold follows in Precious Gold pathGreen Gold vs Yellow Gold. A reversal here is predicted and the upside still has massive potential.
Will Canopy Growth (TSX:WEED) Give Us an Early Christmas Gift?Like many stocks on the TSX, Canopy Growth Corporation has had a choppy November. The wild swings make for some very fun trading, but quite a bit of risk if you're not interested in holding bags.
Here are four trades picked up by our AllTradeSignals Volume Pressure Gauge over the past couple of weeks:
Trade #1 - 40% gain in 8 days
Trade #2 - 2.5% gain in 30 minutes (!)
Trade #3 - 8.5% gain in 20 hours (!)
Trade #4 - ... where will we end up?
Although 50% in gains in 3 trades is already a solid November... where will trade #4 take us?
For me, I'm all for setting a tight stop loss on this one. No looser than -5% should keep us safe for any immediate swings.
What do you think?
Interested in the AllTradeSignals Volume Pressure Gauge ? Get in touch with us here on TradingView!
WEED / LONG OPPORTUNITY / H1WEED (CANOPY GROWTH CORP)
Trading Bias: Long
Technical Strategy: Double bottom / break of neckline
*waiting for strong bull candle next session*
FIB Channel watch for large support tomorrow AM. guessing the end of the decline today/tomorrow be may see 40 to 41 and change.
LONG ACB.TO, CRON.TO, WEED.TO
Looks like a good week ahead for some of the cannabis Stocks. Stochastic breakout, ADX crossovers, SMA crossovers, and previously counter-attack candlestick pattern.
ACB , CRON , WEED
Weed: potential 2 swing trading opportunitiesHello traders,
If you remember my previous analysis for WEED, I mentioned there were two sell zones before the legalization of WEED in Canada, I am hoping that everyone made sizable profit :)
Looking at daily chart, we see that WEED found support around $41.77 and currently hovering around 23.6% fibonacci level. Usually with 46% drop like this, we should see at least 38.2% -61.8% retracement.
Therefore, if I see WEED goes above $50.11, I am looking to short at $55.28 , $59.45 , and $63.62 depending on your swing trade strategy.
However, in case WEED reject %50.11 next support is $33.89 and this will attract a lot of buyer.
Happy trading!
another bear flag possiblyfor reference. If there is hesitation in breakout or near top trendline, could be good short opportunity. A strong breakout might go and test 60$ but momentum still favors downside.
