NYSE:CGC
Very nice bullish signals here, especially with that flag formation, quasi Cup and Handle. I’m all about Cannabis stocks in 2019 for obvious reasons, considering the more liberal evolving regulatory environment paving the way. It’s all the Benjamins baby. I wonder if B. Franklin smoked cannabis.. Hmmmm.
Options i got my eyes on:
- July 19, 2019 $50, $52, $55, calls
- October 19, 2019 $55, $60, $65 calls.
Stop loss = $35. So think;
If CGC < $35 = BAD. and cut your losses and bail.
Very nice bullish signals here, especially with that flag formation, quasi Cup and Handle. I’m all about Cannabis stocks in 2019 for obvious reasons, considering the more liberal evolving regulatory environment paving the way. It’s all the Benjamins baby. I wonder if B. Franklin smoked cannabis.. Hmmmm.
Options i got my eyes on:
- July 19, 2019 $50, $52, $55, calls
- October 19, 2019 $55, $60, $65 calls.
Stop loss = $35. So think;
If CGC < $35 = BAD. and cut your losses and bail.
Comment:
Trade active:
If CGC breaks thru $41.68, then a quick drop to $38 wouldn’t be crazy to see, however the stop loss at $34.25 would still be a good point to fold the hand, because at that point we would drop OUT of the bull trend pitchfork that keeps us on track with July and October option expirations (where a profit can still be made by then).
Comment:
If it drops to $38, i’d buy a few more July/Oct calls, only w a lower strike like $45.
Trade active:
A bit more of a dip than originally thought, I’d feel safer rolling out my calls to the Sept-Oct 2019 period.. Doubled down and increased all call positions by 50%, and absolutely Glad I did with that merger announcement..
Trade active:
In case you were asking yourself... Yes, I’m that good..