brunskovic

Bullish wedge pitchfork combo on Canopy Growth

Long
TSX:WEED   CANOPY GROWTH CORPORATION
Canopy's chart shows a symmetrical wedge that I expect will have a bullish breakout right into the pitchfork . Before that happens it might face some resistance a couple of times and eventually find support either in the pitchfork or wedge line. Price target 39?

Comments

brunskovic, you predicted this nicely, can you explain or draw on the chart how you recognise the pitchfork or wedge ?
Reply
TrackNorris TrackNorris
Reply
brunskovic TrackNorris
@TrackNorris, Hey man. Thanks for your comment. First of all.. I'm a novice technical analyst who is still learning by trial and error.
I recommend reading these two articles first.
https://www.investopedia.com/terms/w/wedge.asp
https://www.investopedia.com/terms/a/andrewspitchfork.asp

The wedge is fairly easy and basic. The pitchfork however is considered more difficult and not recommended for beginners. From my experience it depends on the chart if the pitchfork is applicable or not. I just try things.
Reply
TrackNorris brunskovic
@brunskovic, right on, very cool
+1 Reply
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