ruebennase

Canopy Growth...Working lower to the 14.86 range!

NYSE:CGC   CANOPY GROWTH CORPORATION
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Hello Traders,
CGC is declining still to lower targets within a wave „C“ of (2)!
At 14.55 area wave „5“=“1“! This is my primary target area.
Note how price is moving lower within a trend channel. The low @ 18.04 was a 2.414 muötiple of wave „1“ of lesser degree. The countertrend since a „three-up“ indicating more weakness in the coming hours ahead. One more argument for a wave „4“ move is the behavior of price, as it moves out of the channel, often indicate this!
So a close of the open gap from 18.86-19.09 will be a first hint, that the final move is underway. Expect bad news and a possible gap to the downside with a huge volume .
If this behavior occurs, it could be a first hint for the end of this horrific decline in CGC!

Have a great day...
ruebennase

Feel free to ask or comment.
Trading this analyze is at your own risk!
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