[CGC] Breaking through Resistance... Be Patient and Buy Cheaper?
CGC made some nice moves and unfortunately didn't stick to the downward trend I was hoping for.
Added in some new resistance lines here.
The timing here is crazy, trying to thread a damn needle through this craziness haha.
As much as I wanted to get in before it broke the $17.50 resistance, I held off because I expect the overall market to collapse down next week just in time for earnings.
It's gonna be close and I might end up having to load up at like $21 (not ideal but it's still gonna be a smart play but if we luck out here, it'll crash back to around $15-$17 at least next week and create a perfect buying opp right before earnings.
This is likely gonna pop above $28 resistance (assuming there is something decent coming out of earnings like with ACB).
Targeting a 50-100% ROI on 40-60% of my CGC holding this swing.
Added in some new resistance lines here.
The timing here is crazy, trying to thread a damn needle through this craziness haha.
As much as I wanted to get in before it broke the $17.50 resistance, I held off because I expect the overall market to collapse down next week just in time for earnings.
It's gonna be close and I might end up having to load up at like $21 (not ideal but it's still gonna be a smart play but if we luck out here, it'll crash back to around $15-$17 at least next week and create a perfect buying opp right before earnings.
This is likely gonna pop above $28 resistance (assuming there is something decent coming out of earnings like with ACB).
Targeting a 50-100% ROI on 40-60% of my CGC holding this swing.
Comment:
Clarified my question mark a bit:
![[CGC] Peak - Short Term Short Setup.. Hold for Pre-Earnings Buy](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
![[CGC] Peak - Short Term Short Setup.. Hold for Pre-Earnings Buy](https://s3.tradingview.com/d/dPS47htm_big.png)
Data analyst with a passion for best fit lines B)
