CGC After retracing .5 of the move up from the low of consolidation before the constellation news to recent all time high, I'm now watching for a lower high to be set somewhere between $49-50 range. If we get a quick push up Monday to that area I would expect enough profit taking to have us looking back down to find a new base of support above Friday's low $40.68
I'm pretty new to trading but if we see CGC break through the 0.65 (51.05) on Tuesday, do you think that will be the new support line or do you still see this going down closer to Friday's low? Guess we still have to test $50 first though. Thanks!
RobinTwist77
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@RobinTwist77, Oh sorry, just saw these responses below. You may have already answered it
ericwdean94
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So what you are saying if we get a push to 49-50 you expect the price to fall back to around $40? New to this just trying to understand thank you
McGuireTO
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@ericwdean94, not TO $40 but TOWARDS $40. I'd be looking for a higher low above $40, say in the 44-45 range to remain healthy for the bulls
ericwdean94
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@McGuireTO, okay that makes sense, that you for the clarification!