Canopy Growth Price Action - Is the Bottom in for Potstocks?

We are now near the bottom of the previous wave 4 of one lesser degree, and IMO it's about time for shorts that have rode this down to take their profits and flip long.

I've updated my count and I now have A as a leading diagonal , and I have this whole correction as a standard ZigZag . Whatever we have here is in 3 waves, and this count seems to work, especially the fib relationships when I did a deep dive.
Wave C looks pretty straight forward with 5 waves in a channel. The extended wave 3 hit the 1.618 x A target right on the nose; It'd be hard to argue that that 5 wave move is not an impulse. Question is, where are we in the final 5th wave? I can't get a great count on this one, and see two possibilities:

1. Wave 5 is some sort of diagonal, and has completed. What I like about this is the wave A and C equality of the the large red ZigZag . What I don't like is the ending diagonal is messy.

2. We are still in wave 3 of 5. My target for this case is $14.5. Here's why:
a. It's the target for wave 1 and 5 equality. (Last blue wave 5 would be equalt to wave 1)
b. $14.5 is a level of interest as it was the top in November 2016.
c. It could satisfy the wave C target using the channeling guidelines (pink channel)
d. I also noticed that price is reacting to the slope of a channel using the top of blue (A) of the larger red B wave. Check out the fib channel and how price has reacted to it. Even the overshoot hit the .236. Not sure why, but seems as though algos are reacting to
something here. Take a look at where this channel intersects with the pink channel. You guessed it, the golden ratio .618.

My plan is to wait for it to play out, and will be watching my indicators closely at the $14.5 area. If instead we break out of the C wave channel (specifically the TL joining the top of waves 2 and 4), I will also go long. This change in price behavior would let me know that wave C has completed.

GL All!

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