Following this count from November twitter.com
#CGC #canopygrowthcorp – Canopy closed last week just above a support level(blue line) that stems back to the price peak of $14.39 seen in November 2016. The most recent test of this level prior to Friday’s close was in November of 2019 which came after CGC lost -73% from a high of $52.74 in April 2019. Price bounced 80% off of support in November 2019 to a high...
#CGC -#CGC Canopy Growth Corp has created a bearish reversal pattern on the monthly chart that is similar to an Evening Star Reversal pattern. The current reversal pattern doesn’t fulfill the requirements to be a true Evening Star Reversal due to it not occurring at the top of an uptrend in price, but it could be a signal of downtrend continuation, especially...
Canopy Growth Corp is down roughly -15% on the trading week as global fears over Covid19 have finally gripped markets after a month of essentially dismissing the potential negative economic impacts. CGC is currently trading within a parallel channel which began forming in late 2019, with an upper resistance level of $22.50 and a lower support level of $17.80. ...
Canpoy Growth Corp's price filled the gap(blue dashed lines) that was created on February 13th -14th with a close today of $20.30, a gap fill that was anticipated after price failed to move higher last week and back into the rising trend channel(orange lines). Today's price move can mostly be attributed to the overall selloff in global equities last night into...
CGC has fallen out of its uptrend channel(orange lines) and has returned to a previous consolidation range(blue lines). The trend for now has shifted back to neutral as long as price is within the blue lines; a break back above the blue channel would be bullish, a break below bearish. The PPO is indicating a negative short-term trend with the green PPO line...
CGC is back to testing an uptrend support line after a recent channel breakout that had looked promising until pandemic fears shook the market today. Currently watching this uptrend line to see whether or not it is able continue propping up price. A bounce here would be bullish for CGC, a break below the uptrend line would put price back to neutral, or no trend...
CGC is holding its own after a rough 2019. The recent sideways action within the parallel channel was an accumulation phase and now that we've had a successful breakout of the parallel channel the next move should be an upside continuation move, with or without a re-est of $20 first. A successful re-test and hold at $20 would help solidify the current uptrend...
Good evening traders. I thought I would share another stock I really like for a couple of reasons. CGC is at a great entry price, even if we fall lower good dollar cost averaging will leave you in a good place when we return to the upside. So my first reason, so called pot stocks have been getting a bashing by the media the past 6 months(just like crypto)...
looks like a good setup for a swing up towards 40s - Market sentiment seems to be slowly changing. Farm payroll on watch w/ fed still dovish. Pot industry still a few years ahead of itself - so trade wisely. I see this as a win/win, if the market turns - it's a solid spot for a beginning entry position and I'll plot out a long hold - IMO. Been riding the...
Welcome to Fxtrading services, we provide Forex mentorship to our costumers. We are watching this stock very closely as potential long.
After setback in the cannabis industry and lack of liquidity, we had a slump in stocks. Now it seems 22 is a strong resistance level. Earlier entry is possible on the close of the recent gap. Good Luck!
As we see the end of wave C, looking for the buy on the break of the trend line. Multiple confirmations on it so a break is a good trigger. Company has $7.01B market cap, industry is on the rise. Good Luck!
Hello Traders! Update on CGC – Canopy Growth Corporation, testing critical support in a potential falling wedge pattern that has a bullish divergence coming to fruition, will CGC have a relief rally from here? Points to consider - Trend Bearish with consecutive lower highs - Major structural support being tested - Resistance at .50 Fibonacci - EMA’s giving...
Finding support here on a large scale, First Target at weekly resistance, I think they will take it off schedule one or something will be the catalyst to get them flying again.
just like with chart similarities with Lyft and Uber. $TLRY tends to pave the way for $CGC.
Looks like trend has completely reversed after another harsh rejection at the $50 level. Could the tide be changing?
Did Canopy create a double top, or is the stock going to create a Macro higher low & stick in a bottom tmrw or sometime right away next week?? If Canopy doesn't take control of the market tmrw with some big news to offset the market sentiment than don't look down, in my humble opinion which is only worth a grain of sea salt from...…. Time will tell per usual.