odeaolay
Long

CGC: Canopy Growth Corporation Wedge Breakout 10%+

NYSE:CGC   CANOPY GROWTH CORPORATION
Moving Averages: There was a 20/50 sma cross back on May 21, 2018 signaling bullish momentum, this has been continued with the stock currently bouncing off the 20 day moving average.

Trendlines: CGC is currently breaking out of a wedge formation with more than 2x its average daily volume , on an incredibly red day across the markets, showing a great amount of strength.

MACD (12, 26, close): Currently crossing bullish on daily charts as well as on the weekly.

RSI (14): Currently sitting at around 61, above the bullish 50 mark, signaling a healthy amount of buying after a healthy consolidation.

Currently looking to swing, first target at 34 the next at 39, stop at 28 as the stock is volatile.

Got in last week at the first attempted breakout, 50 shares at 31.24
Comment: Canada Senate for legalizing marijuana, up on news
Comment: Testing ATH, tons of volume
Comment: Sold 25% @34.90
Sold all of my shares yesterday in pre-market trading @ $35.25, I'll keep it on my watch list and see what happens as we approach October and the legalization in Canada..
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As of today I'm holding 250 shares at a per/share cost of $29.08, I'm not sure if I should dump it or just hold on since it's a very small portion of my portfolio. It's been sloping down for the last week or so and yesterday Tilray ($TLRY) had their IPO and I'm thinking maybe that had something to do with some investors allocating funds toward that company. What say you?
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odeaolay STOCKJUICE
@STOCKJUICE, I got stopped out earlier this week, weekly chart for this stocks starting to look really bad, $TLRY definitely took some attention. I'm going to stay away from this space maybe make a derivative trade with $STZ.
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odeaolay STOCKJUICE
@STOCKJUICE, Might look into namaste aswell. Strong Balance sheet and less exposure to the volatility in the Marijuana market as its just devices currently
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sold 25% @ 34.95
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