Antonio_trader

Canopy Growth Corporation trade plan

NYSE:CGC   CANOPY GROWTH CORPORATION
As we see the end of wave C, looking for the buy on the break of the trend line . Multiple confirmations on it so a break is a good trigger.
Company has $7.01B market cap, industry is on the rise.

Good Luck!
Comment: A break on Friday was the first spike and now we have a trend line retest. Great risk-reward here for a long if you haven't gone long already. Earnings in 3 days could make or break this.
Comment: It is an aggressive entry, but good risk-reward.

Comments

Earnings 14th before the bell.
+1 Reply
Again, well done, how far do you think it goes?
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@monsefr, If the earnings do not mess everything up, then back to $30 for starters.
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More importantly, look at ACB monthly chart. On a larger scale, ACB is doing the ABCDE consolidation over the past 2 years. It looks like wave C uptrend is due for ACB. Something great to boiling for the Cannabis industry.
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Antonio_trader justinl619
@justinl619, perfection would be a retest close to 18 level again before the spike
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justinl619 Antonio_trader
@Antonio_trader, Well, we have 2 catalysts for the last 2 months of the year. One being earnings on 18th and the other is the new CEO announcement. There needs to be bad news for the stock to get back to $18. Maybe bad earnings. BTW, GWPH reports earnings after close today.
+2 Reply
Barkworth justinl619
@justinl619, earnings was estimated 18th, but Canopy confirmed yesterday that it will be post market on the 15th.
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@Barkworth, I found on other websites that it is 14th after the close
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justinl619 Antonio_trader
@Antonio_trader, I thought ACB is 14th, no?
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Barkworth justinl619
@justinl619, on ACB's website you can find publications of the latest news letters. One of the last ones announces the earnings call.
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