Will Canopy Growth (TSX:WEED) Give Us an Early Christmas Gift?

Like many stocks on the TSX, Canopy Growth Corporation has had a choppy November. The wild swings make for some very fun trading, but quite a bit of risk if you're not interested in holding bags.

Here are four trades picked up by our AllTradeSignals Volume Pressure Gauge over the past couple of weeks:

Trade #1 - 40% gain in 8 days
Trade #2 - 2.5% gain in 30 minutes (!)
Trade #3 - 8.5% gain in 20 hours (!)
Trade #4 - ... where will we end up?

Although 50% in gains in 3 trades is already a solid November... where will trade #4 take us?

For me, I'm all for setting a tight stop loss on this one . No looser than -5% should keep us safe for any immediate swings.

What do you think?

Interested in the AllTradeSignals Volume Pressure Gauge? Get in touch with us here on TradingView!


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