Strong bounce from here or price target as shown in chart $CGCThis is the place to bounce for $CGC or else a drop lower where there is very tempting area waiting for loading up the $WEED bagsby paskalien112
Support at long term trendline at 49.66fib wedge work great on canopy. 49.85 would be a great entry point to add shares this week. long term support at 36 n change. lets hope this trend line doesn't break. cannabis sector looking week. follow hmmj. Longby derekh42333
Applying EW to recent WEED price actionDisclaimer - first time applying EW and I barely know what I'm doing.by dencor2
Bad News for CannabisCanadian cannabis market is still in the process of sorting itself out between Legal and Blackmarket cannabis. New challenges ahead if the Cannabis sector do decided to produce products such as edibles and beverages which will also incur additional cost to process. Given the circumstance that Cannabis industry is in, many recreational smoker now have the ability to grow their Cannabis at home (my friends included :P), we can expect further struggles with these companies since casual grower have also the ability to cook up their own consumable and often more creative. Let's wait for Monday and see how the market will respond. Also check out “HMMJ - Canadian Cannabis ETF” if you haven’t which will give you some insight of the overall cannabis condition. Shortby TradingCow4
Weed - Looking bearishAfter recent press, looking bearish and needs to hold the level and range or it could be ugly. Interesting to see how it reacts here. by dafster17112
WEED Nothing BullishVery bearish chart - no reason to catch the falling knife and buy until something confirms. Weekly MACD turning negative and already below the signal is confirming this down move. No catalyst yet - I'll need at least a break of the recent weekly downtrend. Meanwhile, negative divergence on the MACD and DMI will weigh on it. Shortby marketmind31
Weekly WEED Still Looking BearishNegative divergence on the MACD and DMI dating back a few months. Weekly still looks bearish & Waiting to see if we can get daily charts and technicals to turn back up. Shortby J3rk1e0
Canopy growth corp is looking good for shortcanopy growth corp is looking good for short Shortby Dimissimo2
WEED - Waiting for a Buy Set-Up After a few days of weaknessWEED - Don't like the negative divergence on the MACD and DMI dating back a few months. But, will be eyeing how it trades on the retest of the Bull Flag. Weekly still looks bullish if we can get daily charts and technicals to turn back up. Right now a hold, with no bias.by marketmind31
WEED weekly analysisWEED WEED is in a broad bull channel with good buying pressure and no strong reversal yet. The bears recently attempted to form a lower high, but prices are stalled at the EMA and set up a nested high 2 /wedge bull flag. The bulls have a breakout gap below around $47.50. If it remains open, prices will likely test the all time high. A new all time high could form a wedge reversal down, at which point bulls will likely take profits and wait for two legs sideways to down before buying again, unless the reversal is strong.by tradersmentality0
WEED/CGC breakout BullflagCGC/WEED is moving toward previous resistance, $64-65 has been the territory of many false breakouts. This recent catalyst that reversed the downtrend may allow it to move past previous resistance, Merill Lynch initiated coverage of CGC/CRON/ACB, also at the same time CGC bought Acreage Holdings which was 3.4 billion dollar acquisition. This was a big catalyst but more so was the Merill Lynch coverage it spawned a huge interest from new investors. Big volume event with 4x normal volume. I will purchase options if it beats $65 and sticks. Target is $74 for me. Probably going to play this with a Debit Spread $5 apart. 6 weeks out. Lets see how it plays out. Paper trading this event. This isn't trading advice just a journal on tradingview.Longby Synaptic724222
Selling the cannabis bubble Here we can see the beginning of a large sequence to the downside in many cannabis stocks. I am going short across the board here as the sector looks very soft and recommending all to write upside volatility or simply short the common stock for infinity. From a technical perspective we are struggling at heavy resistance and beginning a new sequence to the downside. Sit tight, the global downturn is coming. Shortby ridethepigUpdated 4417
My Idea on Pot StocksEverybody and their brother has already bought pot stocks. Theres thousands of companies out there that were founded in much earlier, and still have the same or fewer amount of employees and growth. Sure, If you got in at $25/share, that's somewhat more reasonable, but In my opinion its overpriced and overbought for a small company. When you start seeing such advertisements online, "BUY THIS MARIJUANA STOCK FOR CHEAP! BE A MILLIONAIRE!." It's too good to be true. Don't waste your money. Good luck.Shortby BlueMilkRun0
CANOPY - Possible BULLISH Pennant breakout to new highs of $80Trying my beginners luck on my first post on stocks. I've been watching price action for Canadian weed stocks the past few months and it is now finally breaking out of bearish bias, especially Canopy. BEFORE entry, please look for confirmation on candlestick patterns or price action at important S/R lines. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!Longby pjgonzalesUpdated 2
Canopy Growth BreakoutAscending Triangle. I drew a symmetrical triangle here a month ago didn't work out. Seems like there wasn't enough power to push it up. The recent FED meeting pushed the SPY to new limits. Everyone is very bullish now. Canopy may push through to new highs within the next week. Buying a few calls to go for it.Longby Synaptic724Updated 112
Weed looking weak on daily, broke down pennant Weed looking weak on daily, broke down pennant. Waiting for USA banking vote, moved down on CRON earnings past 2 days, CTST had bad earnings too. Will wait for 50% Fib retrace and see if markets roll over. Good luck!by hockeysniper4
WEED STOCK Il y a plusieurs signaux d'achats et de ventes. Apprenez a les repérer pour gagner à la hausse et à la baisse.by DrissDrissiKaitouni0
weedweak at least levels suggest price will come towards 50$ 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 anywayLongby EminiOs4
CANOPY GROWTH CORPORATION - CANADA STOCKWe are in wave 5 of Elliot theory. Wait for dropping and buy in lower point (Buy zone 1 and 2) All another analysis in the chart, good luck guys! Longby xuanhaimmoerUpdated 5534