It looks as though we may hit the 200 day MA at 23.30 this week before we see profit taking, and the shorts re-entering. It's also important to note that we're nearing major resistance with the top of the a stones throw away. I suspect we may see a reversal of the squeeze next week once the bulls have achieved these levels. If there's enough momentum to pierce the upper downtrend line, and the 200 day MA, the upside could be massive, particularly seeing as are not until early November.
We shouldn't rule out the possibility of a broad market sell off, given the high number of potential catalysts floating around at the moment. This could heavily affect Canopy's price action, and the positive sentiment around it's valuation.
I appreciate your time today guys. Thanks, Michael.
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The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.
Thanks for your time today guys, and enjoy your evening. Cheers, Michael.
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* The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.