CGC trade ideas
CGCMID-TERM: Scuffed Bullish gartley with a double bottom at the PCZ , 4hr hidden bullish divergence , right above historical support. (not financial advice)
CGC Weekly PlayPlease excuse the very rough drawing of the Cup and Handle pattern. I used the drawing tool so the candles didn't all fit.
Crossed up on the top half of the Handle, bullish signal.
The daily shows good RSI, with another bullish signal in the future for more buyers whenever it crosses the 200MA.
Been bouncing around this 24.00 support line (noticeable on 1hr chart) for awhile now as well.
I will enter a small swing position (anticipating it to cross up on the 200MA) for the short term while watching for a long term hold confirmation.
CGC Long Looking UpCGC has been expanding like crazy this last year and rode the cannabis sector wave, now trying to decide its FMV. Been on an uptrend but looking out for resistance around 29.5, hoping it holds support at 24.2 if it retraces, and I'll be moving my SL to profit after support is proven.
CGC wants to be king. This weekly chart looks amazing. Hidden bullish divergence with an ascending triangle pattern. We are going to the moon.
Canopy Growth CGC broke the trendline and is now consolidating in a range. Also, the increase in volume and the fact that the MACD is in a positive territory again support the long scenario. The trade can be entered immediately and the stop should be placed under the 50MA at 23$ which also should function as a guideline for the stopmanagement.
But be aware that the CPI data from May will be released on the 10th of June: if they are higher than expected the US10Y will rise which can cause trouble for the growth stocks (no pun intended).
CGC getting hot to $30+Cannibis Sector now getting hot after ahead of some key legalization moves. This stock can hit $30 in the near term
Target-1 $30
Target-2 $36
Stop Loss $22-21
$CGC - Channel- Major - Falling WedgeShort term trade to ATH falling wedge!!
Push Play -- Join the STP community!! Link in description!
$CGC Canopy Growth Potential Trade setup
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$CGC 2021-APR-28Has $CGC found its new floor, around $25? The last few quarters have had extreme upsides in the month leading into an earnings report. It will be interesting to see if history repeats, as next week marks 1 month until earnings.
$CGC 2021-APR-23It's interesting that the 50th anniversary for 420 day coincided with a retouch - and bounce - on the support zone for Canopy. There has been a fair bit of good news coming out for CGC recently, but some of it's shine looks to have come off as the WSB get-rich-or-get-homeless crowd has moved to the next big thing. Where will it go from here...
Breakout could be immanent Cup and handle forming on the weekly, heading up towards the pivot point for a breakout.
WEED - Quick HighMJ stocks has been hit hard and it's killing the high of cannabis investors.
However it is due for a pullback on the upside.
We have a falling wedge and the price has dropped down to a major support.
WEED - Long + 40% Second share of the week: Canopy Growth
Right now, the cannabis industry is under extreme pressure. Firstly, due to the Corona-related closures, which have further reduced revenues. In addition, legalization is moving forward, but not as quickly as investors would like. WEED has lost almost 50% of the yearly high and shows a bearish tendency. Should investors therefore keep their hands off it? I say no! Especially in the longer term (1-3 years +), an ideal entry point is emerging. Even though the share could lose further ground in the short term, I would use this moment to buy a first tranche and buy more if the loss continues.
CGC at 200 day EMACGC is at 200 day EMA. If it breaks below, it could see $24. I don't have much faith in dems right now to push reform so this rally could turn ugly very quick
cgc back to all time high?This could bounce from 21W moving average. Lets see. Not financial advice. DYOR.
CGC - Long Term ShortCGC - Long Term Short
CGC Daily:
- Cup n handle failed, handle should not retrace
further than 50% of bottom of cup.
- double bottom with 2nd touch trending lower
makes a double bottom with less integrity.
- RSI trending lower.
- possibly will continue further to the .618 Fib, but most likely lower.
- playing the bounce back up to $31,
- looking to enter short if resistance is broken at $27.85
