CGC Technical Summary –
CGC took a heavy beating in 2019 due to unfavourable market and weather conditions. Given the challenges the Stock is being viewed as a higher risk exposure at the same time deemed as an essential service. The stock went from the heights of $8.70 in later part of 2018 to $2.31 in December 2019. Since then the stock has entered in a visible recovery mode to peak at $3.35 but still weak. ATM Stock Research initiates a Buy recommendation at $2.87 for its investors as the chart shows it will try to test the resistance again. Chart shows the stock has a support at the $2.70 mark and from the current BUY price the stock should quickly move to test the levels of $3.20. As shown earlier, there is a short-term resistance at $3.35. Once this resistance is broken the stock should further propel in strong reversal phase to test the $3.80 mark. After this is achieved, the next resistance should be at $5.40 in the longer run.
CGC took a heavy beating in 2019 due to unfavourable market and weather conditions. Given the challenges the Stock is being viewed as a higher risk exposure at the same time deemed as an essential service. The stock went from the heights of $8.70 in later part of 2018 to $2.31 in December 2019. Since then the stock has entered in a visible recovery mode to peak at $3.35 but still weak. ATM Stock Research initiates a Buy recommendation at $2.87 for its investors as the chart shows it will try to test the resistance again. Chart shows the stock has a support at the $2.70 mark and from the current BUY price the stock should quickly move to test the levels of $3.20. As shown earlier, there is a short-term resistance at $3.35. Once this resistance is broken the stock should further propel in strong reversal phase to test the $3.80 mark. After this is achieved, the next resistance should be at $5.40 in the longer run.