If we break these 3 levels, we should see new all time highs.
Canopy had a masSive sell of in the recent weeks and its time for a bounce. RSI is oversold and pointing up. Not a trading advice! Looking for a short-term bounce from these levels #cgc #canopygrowth #weed #weedstocks HAPPY TRADING!
Update....believe the bottom support level is here and we will see the end to the consolidation with new ATHs in the coming months.
Watching CGC first thing Monday to see if the high of Friday or the low of Friday breaks to signal sort term direction
Clear bear breaks today keep the bulls in full control of CGC and WEED in every timeframe. Currently in an area with a lack of support. A weak afternoon bounce leaves us in an hourly bear flag setup heading into tomorrow morning, bulls must hold the low of today tomorrow as a first step in negating that flag.
Here's what I'm watching for CGC and WEED. Bears are in control as key support is likely to be tested first thing. There's a lack of support for 25% in the event of a bear break.
Watching CGC tightening pattern break for a solid dump or bounce. R: 34.85 S: 33.08
Green Gold vs Yellow Gold. A reversal here is predicted and the upside still has massive potential.
Like many stocks on the TSX, Canopy Growth Corporation has had a choppy November. The wild swings make for some very fun trading, but quite a bit of risk if you're not interested in holding bags. Here are four trades picked up by our AllTradeSignals Volume Pressure Gauge over the past couple of weeks: Trade #1 - 40% gain in 8 days Trade #2 - 2.5% gain...
CGC is up against a significant area of support including three price levels and the 200 day MA. Watching tomorrow for how this plays out. Key resistance for bounce continuation & bear flag negation is 32.99 Key support is 31.85
WEED (CANOPY GROWTH CORP) Trading Bias: Long Technical Strategy: Double bottom / break of neckline *waiting for strong bull candle next session*
CGC had a nice little move after breaking the daily inside bar today. I'm looking for some profit taking tomorrow as the hourly chart needs a new support above 36.67 S: 36.37 R: 41.06, 42.43
Decided to try something a little different today because I don't want to type up a bunch of analysis. I'm watching the range of Thursday to break to tell me if we're going to see bounce continuation of a healthy pullback to form a daily higher low, and then try to change the daily trend with a higher high. Key levels: S: 35.85 R: 38.28
The oversold bounce is starting to feel toppy with a bearish reversal candle on the daily and declining volume. The high of the day rejected from the 100MA and we're in an hourly equilibrium now to determine if we're going to see bounce continuation or set a higher low on the daily chart. Although we have some new levels from after hours, there was minimal...
Quick updates tonight. CGC saw a 10% bounce from the low of the day today and after the first 30 minutes, gave a whole lot of nothing. We spent the rest of the day inside an hourly equilibrium that we're waiting on the break of for either bounce continuation or on another leg down to potentially lower lows. The end of the day saw SPY with big bull move...
CGC today broke its 4hr equilibrium bearish, and shortly later confirmed the daily bear flag, dumping the rest of the day closing down almost 15% in one of the most stand-out bearish days this sector has seen. There is no doubt in my mind this weakness is in large part to the overall stock market dumping for the past four weeks, so be sure to keep an eye on the...
Heading into next week I'm still watching CGC in a 4hr equilibrium. Our key support is a double bottom of 37.32 and 37.35. Canopy finished the day with some weakness looking down towards that level after setting a lower high of 40.37, our new key resistance to break. We can see the 12EMA on the 4hr driving the price down continually since the all time high on...
The post-legalization sell-off may or may not be over, and I'm watching CGC 4 hour chart for clues. We're in a 4hr equilibrium and the support to hold is 37.32 and resistance is 41.06. A break of 37.32 and we're looking down towards 36.62 low of the dump and then 30.20. A break of 41.06 resistance and we're looking to set a daily lower high, compared to the all...