Canopy Growth corporation is planning a $300m acquisition of Acreage Holdings in what is the biggest Marijuana acquisition of all time. The potential acquisition dependent on U.S. Congress changing laws to legalize the sale of marijuana across the US presents large long term upside potential for the stock. However, as with our analysis on Aurora Cannabis we advise...
We are currently in a falling wedge; watch price action at the bottom of the wedge for best entry point.
CGC looking very promising. If we can continue from here target will be $122 for wave 3.
weak at least levels suggest price will come towards 50$ range - it just can't above 65$ not enough buyers showing up..market profile suggest 50$ at a naked VPOC to come test and find buyers 15-20% drop very possible here will probably affect whole cannabis sector which is pretty much overbought anyway
When this thing breaks, I would expect a massive move either way. What's it going to be heading towards summer ? Is Canopy primed for another leg up after this gigantic bull flag ? Or is it going back down ......what do you think ?
We are currently in a bullish pennant and I believe we are going to breakout to the upside. With the hype around the cannabis sector, it's not likely we will see a major correction before hitting all time high. Weekly Ichimoku cloud also indicates that we are in bullish trend for weeks and month to come. Be patient and manage wisely :) This is an analysis, not...
Topside resistance: 48 psychological, break could lead to previous highs 50-55 range, up to 15% profit potential, if not ATH. Bottom support: 45 psychological & 43,71 previous Higher Low/trendline coming in. Break could lead to HL compared to 25.15, => further tightening EQ range on the Weekly. Watch for volume when break occurs, in order to avoid...
I think Canopy Growth will retest its support in the coming weeks. Much based around the accounting error and no short term catalyst to move the SP higher from a already high SP, price near ATH. I think Canopy Growth will find support around $48-55 Cad or as low as $40 Cad, depending on more factors then only Canopy. And with positive news around the Cannabis...
Burst through H&S and previous resistance, forming bull flag. WEED closed +1.5% today, with WMD closing -0.5%. Divergence between these two never last. Likely pullback to 200D SMA (last support), before breaking through bull flag.
Good luck with this parabola, what goes up must get back down. Hysterical movements are not organic, you wont be advised, ultimately there will be an 80% circa retracement move.
Canopy Growth Company just gave us a buy signal on the Megalodon indicator, and with Marijuana on the rise in America with continuous legalizations, it could be a great buy! If you'd like to try the Megalodon indicator for yourself, send me a message!
CGC has been stuck in a short term descending triangle. By the end of the month i'm looking to see a breakout.
WEED.TO has been running on positive sentiments and news of hemp production in New York. They are currently holding strong in a consolidation pattern. A bull flag will be completed if it runs passed 60 with any amount of decent volume. Buyers are not letting up and they're not letting go of any shares. If 60 doesn't break it will retrace and retest 54-55...
Canopy Growth Corp. has been ascending on descending volume . That is a bearish sentiment. This bull run will come to an end shortly and a more bearish sentiment will take form. The chart follows the bearish sentiment that is seen across the market.
m Honestly ot sure i sold at 64 last run when i said load up in my post nad made bak then i had a huge position again at 39 when it comes down and sold at 46.... m thinking maybe 48 because of constellation brands price purchasing it at $48
Canopy Growth Corp. has been ascending on descending volume. That is a bearish sentiment. This bull run will come to an end shortly and a more bearish sentiment will take form. The chart follows the bearish sentiment that is seen across the market.