CGC
Uptrend support line is being tested as we speak. If it does not hold, there is a secondary trend line of a former resistance that may turn support right at 24 area. If looking to get in long for CGC, this is a good spot simply because you can cut losses quickly if support breaks and not lose your a**. I do like the longer term prospects of this company once R&D costs and expansion costs start to wane. For now, entry at this level with a stop loss at 23.98 gives about 10:1 risk/reward ratio in favor of reward. Cut loss at 23.98 is less than 6% off current price. I bought a few more shares here, but still saving my biggest buys for either a further fall or a turnaround bounce. Happy hunting and glta!
CGC
Uptrend support line is being tested as we speak. If it does not hold, there is a secondary trend line of a former resistance that may turn support right at 24 area. If looking to get in long for CGC, this is a good spot simply because you can cut losses quickly if support breaks and not lose your a**. I do like the longer term prospects of this company once R&D costs and expansion costs start to wane. For now, entry at this level with a stop loss at 23.98 gives about 10:1 risk/reward ratio in favor of reward. Cut loss at 23.98 is less than 6% off current price. I bought a few more shares here, but still saving my biggest buys for either a further fall or a turnaround bounce. Happy hunting and glta!