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Canopy Growth: Further UpwardThe WEED stock has already realized considerable increases during the current green wave B, which we credit with even more upward potential. However, we primarily expect the top of this movement to be marked below the resistance at C$3.11, and subsequently, the price should move deeper into our magenta Target Zone between C$2.96 and C$0.90 to complete the larger wave ii in orange. The following wave iii should then lead WEED out of the magenta zone and peak above the mentioned C$3.11 resistance. If the stock already rises above this mark during the current movement, we will have to assume that wave alt. ii in orange has already concluded (probability: 37%).
TSX:WEED
by MarketIntel
WM Technology | MAPS | Long at $1.00WM Technology NASDAQ:MAPS provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. After it's de-SPAC in 2020, it soared to $29.50 and now can be found for around $1.00. It's been consolidating at these lows for almost two years, and it may be gaining algorithmic traction for a move soon based on my selected simple moving average (SMA). Often (but not always), when this SMA gets close to the price, there is a pop to the historical SMA. Currently, it is in a personal buy zone at $1.00. Target #1 = $1.50 Target #2 = $2.00
NASDAQ:MAPSLong
by WorthlessViews
Canopy Growth: Some Room Left...WEED has continued to move downward within the magenta Target Zone between C$2.96 and C$0.90, and it is now trading in the lower quarter of this range. Currently, the stock should be working on a blue five-wave move and should soon reach the low of wave (v), thus completing this structure and also the large green wave . Primarily, we still grant the stock some more room to fully utilize the Target Zone, but a trend reversal should be initiated with the low. Afterward, the high from April 29, 2024, at C$20.50 should be exceeded during the turquoise wave 1.
TSX:WEED
by MarketIntel
3
GrowGeneration | GRWG | Long at $1.90GrowGeneration NASDAQ:GRWG is approaching one of my favorite technical analysis setups as it gets closer to my selected historical simple moving average (SMA: the white and teal lines). Often, but not always (i.e. public offering news...), the price will jump to the selected historical SMA after a long period of consolidation - which has been occurring for some time. Additionally, the President, CEO, and Director of NASDAQ:GRWG have been buying shares recently near $2 which is a bullish indicator. There are currently only 54.8 million floating shares and an 8%+ short interest, so this could get interesting if the election cycle whips up new interest/chatter about national decriminalization of marijuana. As a result, GrowGeneration is in a personal buy zone at $1.90. Target #1 = $2.20 Target #2 = $2.50 Target #3 = $3.00 Target #4 = $3.50
NASDAQ:GRWGLong
by WorthlessViews
1
CGC BULLISH EMA 20 CROSSOVER IMMINENT-Earnings next weed### Investment Thesis on Canopy Growth Corporation (CGC) This is not financial advice of any kind. Do your research! 1. Overview and Rationale Canopy Growth Corporation (CGC) is one of the leading players in the cannabis industry. With the potential reclassification of cannabis by the US Federal government, CGC stands to benefit significantly from increased market access, reduced regulatory burdens, and expanded business opportunities. 2. Fundamental Analysis - **Market Position**: CGC has a strong market presence in Canada and is strategically positioned to enter the US market upon federal legalization. - **Revenue Growth**: The company has been showing steady revenue growth with expanding product lines, including recreational and medicinal cannabis, CBD products, and partnerships with beverage companies. - **Strategic Partnerships**: Canopy Growth's partnership with Constellation Brands provides a robust financial backing and enhances its product portfolio with cannabis-infused beverages. - **Potential for US Market Entry**: Reclassification by the US Federal government could open a significant revenue stream for CGC, given the size and growth potential of the US cannabis market. 3. Technical Analysis **Exponential Moving Average (EMA) Analysis** - **EMA 20 Cross Over**: The EMA 20 is on the verge of crossing above the EMA 50. This crossover is typically seen as a bullish signal, indicating a potential upward trend in the stock price. - **Historical Performance**: Previous EMA 20 crossovers have been followed by significant price increases, suggesting a reliable pattern for future predictions. **Triple Dive Pattern** - **Formation**: CGC has recently formed a triple dive pattern, characterized by three successive lows followed by a reversal. - **Implications**: This pattern often indicates a strong support level, suggesting that the stock is unlikely to fall further and may be poised for a bullish reversal. **Keltner Channels** - **Current Position**: CGC's stock price is currently at the lower band of the Keltner Channel, which often indicates that the stock is oversold. - **Potential Movement**: A move back towards the middle or upper band of the Keltner Channel would signal a potential upside, aligning with other bullish indicators. 4. Risk Factors - **Regulatory Risk**: While reclassification is a significant catalyst, it remains uncertain and dependent on political processes. - **Market Volatility**: The cannabis industry is known for its volatility, and CGC is no exception. Investors should be prepared for potential fluctuations. - **Execution Risk**: The ability of CGC to capitalize on US market opportunities will depend on effective execution of its expansion strategy. 5. Investment Strategy Given the combination of fundamental strengths and positive technical indicators, CGC appears to be a compelling investment opportunity. The potential reclassification of cannabis by the US Federal government could serve as a significant catalyst for the stock. The imminent EMA 20 crossover, triple dive pattern, and current position within the Keltner Channels all support a bullish outlook. **Recommended Action**: Initiate a position in CGC stock, with a focus on medium to long-term gains. Monitor technical indicators closely for confirmation of trends and be prepared for potential volatility. --- ### Follow-up Question How would you assess the impact of the potential reclassification of cannabis by the US Federal government on CGC's market strategy and revenue projections? "The mind adapts and converts to its own purposes the obstacle to our acting. The impediment to action advances action. What stands in the way becomes the way." — Marcus Aurelius
NASDAQ:CGCLong
by Stranglemaniac
1
TLRY - 420 to the MOON or is CANNABIS FINISHED?This chart is pretty explanatory, and probably doesn't require much explanation. I'm bullish on this stock. I'm 90% sure Dems push cannabis legislation through as it's a bipartisan issue for the most part, and will look good for both parties pre election. Starts with credit cards and banks, imo. Don't follow green line path as gospel, it is often incorrect, but helps me plan a preliminary "ideal" path based on indicators. It helps with backtracking predictions, and keeping emotions in check, as you know what "past you" saw. I like 1.89 as a big time buy target, but it could easily go lower. Relevant trends and targets marked. Watch out, current trends are showing the run-up into earnings, which would allow for a drop. Does this mean anything? Not always, but it's good to note. current bullish price movement doesn't have to end if rejection trends and targets start to break and confirm. Good luck!
NASDAQ:TLRYLong
by nicktussing77
21
Bargain Hunting - OBV Divergence?This is just a thought here - although this appears to be a never-ending downtrend, I wonder if this on-balance volume divergence signals something. This shows that buyers are willing to step in here a bit more aggressively than the previous "bottom," as shown by higher OBV despite lower prices - even though OBV has declined overall since its peak. We're also seeing higher OBV in general since 2021, which could signify aggressive accumulation despite continued decline in value. This sort of behavior can be seen throughout the cannabis industry. ACB is roughly 98-99% down from its all-time high. Not that it could ever get back up there, but I think at least a return to the $6-7 range is possible over the coming months. However, since the downtrend has technically not ended, there is still significant risk of continuation to the downside. Seems worth a speculative gamble though, as per my last stock analysis and being "strategic." Overall, I'm only down 12% on stocks since I started investing slowly since last year. Not too bad, considering how far down big tech has tumbled. That's probably because I've stayed away from big tech, and been pretty careful about investing too much in weed stocks, at least until prices started to get obscenely low. I also managed to stabilize my portfolio by investing in Uranium ETF's, which helped a bit. -Victor Cobra
NASDAQ:ACBLong
by VictorCobra
Dumpster Diving into Speculative Weed Winners: Canopy GrowthBig level of interest for Canopy Growth NASDAQ:CGC trying to fill the July 25, 2016 gap from 2.15 to 2.20 —post-bull pennant. Pot stocks have taken a beating since the 2021 highs (pun intended). They're clearly oversold BUT they're sitting without a catalyst from the Biden administration toward marijuana legalization efforts. If you're into dumpster diving, Canopy Growth could be a good dumpster to choose. They have exposure in the United States and don't forget, Constellation Brands $STZ has a large stake in the company. 🧐 For a trading strategy, look for momentum into the end of the week after the gap is filled . Otherwise, buckle up and settle in, as it is likely to continue breaking down out of the falling wedge into Tuesday, August 9, 2022 earnings.
NASDAQ:CGC
by zwburger
1