Jerdy
Long

My Elliott Wave Count for WEED.TO

TSX:WEED   CANOPY GROWTH CORPORATION
I have labeled my Elliott Wave Count for WEED.TO as 3 waves in and possibly 4 waves in.

We will see a bounce very soon today or Friday . I think a 10%move up,once pivot low is reached.

Initial Target zone once we reach the pivot low is between $56 and $60 assuming there is no extension for wave 5.

There were sub 5th wave extensions for greater wave 1 and wave 3 so it should not surprise me if there is a sub 5th wave extension for greater wave 5.

If 4 is still not in then I see the next landing zone as the (.618/$31.5) and (.65/30.60) Fib Golden zone region.

This is not financial advice, just my view on what I perceive from my limited knowledge of Elliott Waves .


If we are going to go to the golden zone then in my opinion we will have to bounce somewhat to reset some RSI’s.

The 15,30 and 60 minute RSI’s are all over sold and the 4 hour RSI is approaching oversold.


Comments

Not sure if you have taken a look at this again but based on recent price action, it appears the 5 waves were done and we are just about finished with the ABC correction. Though we will need to see if the ABC was just a larger A wave or the full correction already in place.
Reply
Thank you for this. it was a bit scare for 2 days but i managed to buy more shares yesterday at opening. it will not be a smooth ride, but i believe it's a winned, at least till MJ prices will see a drop by the end of 2020
+1 Reply
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