WEED. Ready to fill $25 gap.

CANOPY GROWTH CORPORATIONTSX

Description

⋅ Jun 8, 2020 9:33 PM

Hello Traders,

Weed is forming classic bull-flag setup ready to fill in $25 gap.
Hourly 100MA is around $24.80, which may act as resistance.
Weed is fundamentally very strong company with quick ratio over 5 and this stock will be a good long term hold.

Comment

⋅ Jun 11, 2020 2:07 AM

Weed is still respecting hourly 100MA. Bull flag play is still possible.
Ideally we want to go around $25.5 and find support on MA100.
$23 is still acting as a support for now.

Trend Analysis weed

Comments

Aroundthesun

⋅ Jun 10, 2020 8:23 PM

Hi,

I'm relatively new to this game.

Did you take the "negative free cash flow" into consideration when mentioning "good long term hold"?

x45lu

⋅ Jun 10, 2020 8:40 PM

@Aroundthesun, while they have negative cash flow due to the lack of revenue from selling, they have enough inventory to cover all those loss.