Canopy Growth Corp tanks beautifully within its recently developed down channel.
Based on this rather arbitrary channel, the short term move might be stopped in the $24-$23 range.
Mid term this whole setup continues to look beautifully bearish.
We again saw lower highs and now for sure lower lows.
Next Midterm-Support could be around $21.
After losing both 200 and 500 MA (red and orange), this is clearly long-term bearish.
Even though pump continuation is possible, all potential upside is capped, most likely by 50 MA (pink), until formation of long-term structural bottom.
The absolute bottom is indicated.
There is a critical support range from $20-25
Risk-Reward-Ratio above > 5:1 .
Shares now trade nearly 50% below our fair value estimate, as the lack of profitability continues to weigh
on the market price. However, we think focusing on profitability this early in the company’s and industry’s
evolution is misguided.
No tardo mucho, parece que llevaba prisa en llegar, y ahi esta, ahora es probable que vayamos a la alza. al menos para llenar ese gap. pero puede ser un excellente trade a largo plazo. los mercados estan dificiles, pero el precio, nosotros seguimos al precio,
linea de tendencia, aunque los indicadores todavia marcan bajada, estoy dentro con un 30% de una normal...
De sobra decir el crecimiento de la industria del cannabis en los ultimos años, y precisamente ahora esta a mi forma de ver cerca de una entrada de compra posible.
Puede que llegue a la linea de soporte, sin embargo es cuidar cuando cruce la linea cero en el macd, y por supuesto que se ponga en pendiente positiva en adx.
Oh well, were definitely expecting more energy from around here but now it seems to be that the support that has been holding the price on right course since December '17, is lost. This channel where the price bounced a tiny bit right now has also been tested few times earlier. Not looking that impressive here, for me at least. If this channel is lost, we may see...
Well, there was the bounce. Filled with hopium I was imagining couple of lines higher move from here. We'll see if there's energy for that as we get closer to this crucial trend line, elseway we could see much cheaper stocks to buy soon.
July 15, 2019 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage”) (OTCQX: ACRGF) today announced Kevin Murphy, Chairman, and Chief Executive Officer of Acreage Holdings, executed an open market stock purchase for 154,000 shares through the OTCQX on July 12th.
The transaction, valued at more than US $2,000,000, was executed on the OTCQX open market on Friday,...
Very bearish chart - no reason to catch the falling knife and buy until something confirms. Weekly MACD turning negative and already below the signal is confirming this down move.
No catalyst yet - I'll need at least a break of the recent weekly downtrend.
Meanwhile, negative divergence on the MACD and DMI will weigh on it.
Some months ago I spoke about a possible bubble on Canopy.
Actually we are near a break out situation.
50 dollars is acting since end of august as resistance. 3 attempt and no success. Price is since 5 months contracting in a range of less than 15 dollars and the trendline of the...
CGC had a good spring I am shorting it until $40 as bearish divergence printed on RSI and SPY is potentially going to move slightly lower.
IT may weigh upon canopy. I am in the trade as of $45.39. I may have jumped the gun as I could have waiting for a false breakout at $47. However the movement today was a little bit weak. $47.10 will be my stop.
This is a...
Canopy growth had a great spring and it seems to be fading toward a new move as bearish divergence prints on the daily RSI while the weekly also looks to be turning bearish.
I want to short 100 shares heading toward 40 which was last support and adding more if it breaks past it.
Previous resistance will be my stop which was $47.
This is a journal entry and...