LeLaf

CGC: Bullish Pennant, confirmed

Long
NASDAQ:CGC   CANOPY GROWTH CORPORATION
Bullish Pennant , confirmed.
Pros:
Descending volume during formation
Volume increase at break out
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 10, high
200MA ascending
250RSI above 50

PT = 66.58$

Comments

Is this trade still valid since it's below the pink area? thanks
Reply
LeLaf psbassin
@psbassin, We'll see next trading if it gets back into the red zone. If it continues down, trade could be dead.
Reply
@LeLaf, it could briefly dip to $37 then bounce...fingers crossed
Reply
Very similar to the trend/ positioning of other cannabis companies. US cannabis earnings in the near horizon, should take us to the next level
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