Lets have a look at CGC - Canopy Growth Corporation
Points to consider
- A clear Triple Top
- Overall trend putting in higher highs
- Stoch in lower regions
- RSI coming into a tighter pattern
- Volume declining rapidly
- VPVR showing low volume of transactions after this support
- EMA's giving price resistance
CGC has had a strong bull...
From the point of view of technical analysis on the daily time frame,
there is a continuation triangle moving up indicated by an arrow.
Something strong in the range of $ 180-177
when you exit the descending channel and fixing above it, you can say that the trend has reversed.
But against the background of the trade war between the States and China, they can spoil...
seems that for almost a month sellers love that purple resistance
we then have 3 more res. if we break it as it once did around 31jan it will need more buyers to withstand the sellers pressure and even go beyond the dump treshold.
but also the white line acts as a dynamic support and doesn't let it fall below, so we see our buyers loving it and dearly defending...