NYSE:CGC   CANOPY GROWTH CORPORATION
CGC has fallen out of its uptrend channel (orange lines) and has returned to a previous consolidation range(blue lines). The trend for now has shifted back to neutral as long as price is within the blue lines; a break back above the blue channel would be bullish , a break below bearish . The PPO is indicating a negative short-term trend with the green PPO line declining below its purple signal line. Worth noting is that the green PPO line is close to crossing below the centerline which would indicate a more substantial downtrend should the PPO continue to fall below the centerline. For now, the lower blue line near $17.50 is the level to watch for support, a move below that line would shift the trend to bearish .

Comments

The way how the weed stocks have been doing lately i have a feeling that it will go below the bottom line and becoming bearinsh especially that earnings are this week.
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Earnings due, this week. It'll be another disaster, I'm sure. Careful trades now!
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