Get started
McGuireTO

WEED back within an old narrowing ascending channel

Short
CANOPY GROWTH CORPORATION (TSX:WEED)  
McGuireTO  
TSX:WEED   CANOPY GROWTH CORPORATION
Trend Analysis Support and Resistance Trend Lines weed weedstocks canadianmj
3
0
trendanalysis supportandresistance trendline weed weedstocks canadianmj
WEED.TO finds itself back within an ascending channel, for the first time since losing it June 26th. Indicators on larger time frames are getting very extended as the price level tests the upper limit of the channel, and while the price is at all time highs and running on both hype and news, I do believe at least temporary consolidation is in the very near term future. That said, I expect this reentry to be rejected and for a new support level to be found.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.