CGC's short term direction will be decided on the ongoing equilibrium on its 4hr chart. The key levels are 46.63 support to 50.99 resistance. Our lower high may be 49.88 if looking at the details of the 1hr chart.
Expect choppy action in this right range. 46.42 is the must hold level to maintain the daily uptrend the bulls just took back.
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.
Expect choppy action in this right range. 46.42 is the must hold level to maintain the daily uptrend the bulls just took back.
For anybody looking at any stock keep an eye on the market. The correlation of every individual name and sector to the overrall market is real and the market saw an all-out dump today, having now given back over 3 months of gains in the past week.
By the way, I do analysis on the entire sector across all the mj charts I publish. If you're not looking at all the names I talk about, you're not getting the full sector-wide analysis. Follow me to get updates when I publish ideas and pay attention to the mj names you typically don't look at too, so you can stay in the know and get the full picture.