CGC: Bullish Pennant, confirmed Long

Canopy Growth CorporationNASDAQ

Description

⋅ Feb 11, 2021 2:30 PM

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

psbassin

⋅ Feb 14, 2021 4:16 PM

Is this trade still valid since it's below the pink area? thanks

LeLaf

⋅ Feb 14, 2021 4:18 PM

@psbassin, We'll see next trading if it gets back into the red zone. If it continues down, trade could be dead.

psbassin

⋅ Feb 14, 2021 5:30 PM

@LeLaf, it could briefly dip to $37 then bounce...fingers crossed

MGNCAPITALMARKETS

⋅ Feb 12, 2021 5:58 AM

Very similar to the trend/ positioning of other cannabis companies. US cannabis earnings in the near horizon, should take us to the next level