TICKER: $CGC Will history repeat itself? Just like last time, CGC is again a daily inside bar with resistance of $20.28 and support of $19.65. I do expect high volume on Monday, but the break is uncertain until it happens. Don't be bias and watch the charts because price action is KING. I will be watching CGC closely next week and again, will either go long or...
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...
... for a .92 ($92) credit. Notes: A high rank/implied (76/78) underlying with earnings in the rear view mirror, excellent liquidity, and that's been beaten down on "weed sector weakness." Cost basis of 14.08 if assigned. Go 7.5/15 and you'll get some buying power relief in a cash secured environment, while only giving up .12 in credit to do so (it's currently...
This is a very apparent inverse head and shoulders on the 4hr time frame. The stock has been butchered in the last few months. Seems like since the new CEO announcement, the stock developed this inverse head and shoulder bottom. It's currently sitting right on the neckline. Watch for a breakout on the neckline.
While we are not seeing divergence on RSI, recent bullish news in cannabis industry are gearing up buyers for 2020. Current resistance is a good confirmation level for a buy. Targeting 30, stop below the recent swing with a buffer of your choice. Good Luck!
Hello Traders! Today’s chart update will be on CGC – Canopy Growth Corporation, a potential inverse head and shoulders could be at play in this strong downtrend… Points to consider, - Bearish trend with consecutive lower highs - Neckline as major resistance - Support provided by the EMA - Stochastics in upper region - RSI in rising wedge - Volume increasing...
Have a great day all
Have a great day all
Mr. Pips says you can long CGC with very little risk here. Mr. Pips' proprietary indicator shows you that the price was strongly rejected at the Main Trendline. This is a clear indication that the price is going to go up! There is no other indicator available that will show you these important price zones. This is NOT Murrey Math Lines. These are NOT auto Fib...
Ticker: $CGC Daily inside bar with very low trading volume on Friday 12/7/2019. This is because CGC is announcing a new CEO on Wednesday 12/11/2019 and both bulls and bears are uncertain about who it's going to be. None the less, I expect a volume spike tomorrow as the range is so tight. The break is inevitable and potential leaks or inside information could be...
On a daily basis, CGC shows a clear downtrend. The downtrend was recently broken, but volume is really thin, so it can not be interpreted as a trend shift. Stochastics in clear sell condition as well. All signals show either sell or hands-off. WNZ Get live updates and analysis: t.me
Since my post several days ago linked to this chart, you'll notice $WEED is holding the neckline area of the inverse H&S, forming two additional patterns known as a bull flag & descending triangle. Seeing how the sector has thrown under the bus for the better part of 1 year, I'm expecting to see the Bull Flag play out.. Simply to go against the bearish narrative...
Should we expect any less at this point. The federal reserve has pumped $3 Trillion dollars into the financial system on a cumulative basis since they announced they were essentially going to nationalize the repo market; we have have a President that goes on Twitter and 'Tweets' with the sole purpose of manipulating the stock market; we have Artificial...
One of the best choices for long term investment. However, in my opinion, the exchange rate may fall further. Its level can be around 7.68usd. From that level, I expect a long-term rise. The analysis shows that a second fractal is being constructed. The shape of this can be determined by the first fractal. However, its size may be 1: 3. It follows that the...
It appears as though the Inverse H&S may be negated. Where I've placed another arrow pointing down may become another lower high, and it may act as the left shoulder of a H&S.
Or was the recent move simply another lower high where i have the red arrow pointing down? It appears as though Canopy may be ready to break the neckline of this inverse H&S. The RSI may have double topped though, only time will tell.