CGC trade ideas
WEED - Another bite at the apple, not that kind of apple.....PRZA new PRZ gives another chance to enter this trade. Still targeting long term target 58.
Canopy growth getting toppish hereCanopy growth has reached the top of its channel and fibo projection. It is also completely overbought all time frame. We are expecting a pullback over the coming days and weeks.
Previous support now resistancePrevious support trendline from low of the February dump on WEED that formed the base of the ascending wedge in March 2018 became a new resistance at last all time high in June 2018. That trendline is being approached again on this current blue-sky breakout, and will be one I'll be watching as the days go on. This trendline looks even better on the weekly chart
TSX:WEED Bulltrap?Cormark Securities raised its target price for Canopy Growth ( TSX:WEED ) to 40 Canadian dollars from 33 Canadian dollars on August 16 while Cowen & Company raised its target price to 56 Canadian dollars from 48 Canadian dollars. Based on the last several months, I wouldn't be surprised to see a short climb before heading back down. Would consider a 40-42$ setup in the next few weeks before heading into October.
WORLD LOVES WEED SO WHY NOT INVEST IN IT?Hey guys,
Weed is the next pharma and Canada is taking over the space!
We see nice move on weed stocks recently - expecting further action $$$
Entering long here and will add up more - watching closely
Don't trade high but trade the high & Keep it REAL!
WEED Canopy GrowthI'm just starting to learn about trend lines and analysis, i was looking for some feedback on this, i think there is a strong support line, multiple hits on it and the bulls haven't broken through, the resistance line i was a bit unsure with as i believe the two big breakouts are fakes and could lead to misinformation about the direction of the market. Thanks for reading any and all feedback would be really appreciated!
Disclaimer: I'm new to this..
WEED RallyI am expecting WEED to break out above the line of Resistance at 44.00 break and retest of the all time highs is expected. The 50 day should be the support here and I would be comfortable buying around the 50. Rumor around town is canopy will be taken over by constellation brands. I think about of people will be buying the rumor and selling the news. my target price is $56 and change like always this stuff changes daily with this sector what I think today may not be what I think next week. happy trading
Corona owner pumps $4 billion more into $WEEDTechnical Analysis is great! But never forget about fundamentals.
We are searching for a new support now, lots of new money moving into $WEED as we speak - lets wait for EOD market to get a better idea on the rest of the week.
Troubling signs for WEED continueFake out Breakout has reversed and rising wedge pattern has failed as well. This should negatively impact the whole space until investors get some fresh new reason to get excited. legalization in Canada and other countries has shown slowed progress and buyers don't really seem to excited to pile in a these elevated prices.
WEED stock and Bitcoin price has inverse relation. Hello traders,
This is just a interesting findings. It seems like someone is moving their asset between Bitcoin and WEED stock in past half a year. When ever bitcoin goes up, WEED price does down, and vise versa.
WEED just broke key resistance and looking for trend reversal. Because money are flowing into WEED, 6K Bitcoin is now on the table again.
Bullish Bounce Off SupportText book H&S formation followed by a Bear Flag
Bear Flag Bounced off BB
Acknowledging and understanding the bear flag, the indicator states that in one scenario we could see another leg down.
Givin the current support line holds, the bellow indicators show a possible area where shorts need to cover coming up to a short squeeze.
RSI is showing a over sold as well
Volume Has been decreasing, Looking for some action
WEED / CGC - Short opportunity before voteChart selfexplain my TA.
SL: 36 (Weed)
please leave your comments / thoughts
Happy trading
2025 LONG TERM Buy and holThis is your time to get into this new industry, Medical Cannibis has been a major player in the health industry over the past few years. this has allowed big companies like Canopy, Aurora and Aphria to get situatied perfectly to take over once recreational cannibis is legalized in Canada on October 17th 2018. Canopy is projected to control almost 40% of the market come october 17th. With there recent Stock split approval this is going to bring the share price down and make it more affordable for the smaller traders. This will create more volume and allow this the stock price to increase at a faster pace.
As multiple states in the US are starting to legalize recreational cannibis this company is perfeclty situated to supply all the demand world wide.
this will be a 75 Billion dollar industry by year 2025.
Aurora is going to be there biggest competition as they both continue to grow and try to take the biggest market share. They are both good buys
I think WEED will contiune in an upwared wedge pattern for many years to come. I plan on buying the dips and increaseing my postion size for the next few years to come.
WEED, Canopy Growth Corp, TSX. The Big 100 Idea!?Keeping it simple.
I personally am a bounce chaser, but occasionally like to post these long term goal charts.
I drew a long term 2 year wedge, that leads right into 2021. This is a long time to draw a wedge for waiting for it to play out, as there will be many factors contributing to the ups and downs of this one.
We have some sell signals on the weekly, which could destroy this wedge really fast, which may seem more practical.
The momentum is still bullish but starting to taper off into a possible couple month sell off to the bottom of the wedge.
This chart is for fun and perspective.
Happy trading, debating and speculating!
WEED at channel bottom. Watch for the bounce. Weed is at the trend/value channel bottom.
I will be watching for a strong rejection and trend pivot this week.
And then a signal to start building my position again.
My thoughts:
This week may be the beginning of the climb to Nov Sell off. (November is typically profit-taking month).
Many investors and traders may agree that weed is on now sale, and buy buy buy.
These past few weeks surprised me how hard the sell-off was.
I was expecting something, but then it became a panic sell-off. Silly Market.
