A lot of big money and buying volume behind this surge. The short float was very small meaning this was not due to a short squeeze but rather a reversal due to the stock being heavily undervalued. Trade with caution, personnally i am holding a good position and will be holding this until a potential recovery to 4-5 $ which would be a fair value given their current...
Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC) today announced that it has ceased funding BioSteel Sports Nutrition Inc. ("BioSteel") and that BioSteel has commenced proceedings under the Companies' Creditors Arrangement Act (the "CCAA") in the Ontario Superior Court of Justice (Commercial List) ("CCAA Court") and will seek...
NASDAQ:CGC - REKKKT
This is not supposed to happen before factor X (luck?).
IMO I think I did with the analyzing solid job. Please, no matter how small thing it might be. Let me know in the comments to improve
I'll walk you through my thoughts:
The Canopy Growth Corporation hit it's bottom on Fri 07/14/23. It fired up those Dank fueled rockets to head outer...
CGC chart literally looked like a waterfall since it broke $1 support back in February. But, since Aug 29 after the US health department recommendation the stock along with all MJ tickers just shot up to the moon. But, here is my issue with the chart pattern: the move up from July 17 to July 30 is 3 waves. That makes me think this current price action is a...
3.618 in log scale, not every day that we see these.
If retracement levels of wave 4 are respected and we form another impulsive wave (5)...
Retrace should be bought to long this one because we might be seeing a potential reversal on a macro scale.
Perhaps the most dangerous market other than crypto has seen some roaring moves with the leader CGC up an enormous 82% today.
The herd will be FOMOing and will likely get trapped but we're going to wait and see if a tidy pull back at a significant liquidity landmark will come to us.
RSI up to 90 and hitting the 200 day MA it is unlikely this trend will have much...
Cannabis stocks are smoking hot right now with CGC clocking up almost +400% in a matter of days ... This comes after a long protracted "downer" from all-time highs in the 50's
Price has now hit up against the down sloping 200dma, perhaps some consolidation before breaking through to new highs?
$2.13 is next major resistance which if broken could see the stock...
Trade open with a stop loss to the downside in case it does not pan out. Not wanting to hold while this goes sideways. Even given its past track record, it is very undervalued and primed for a short squeeze that would boost it to $1.00+
Cannabis stocks are rallying on news that the HHS has recommended the DEA reschedule cannabis to schedule 3. This would significantly improve financials for cannabis companies because it will allow them to begin deducting business expenses from their taxes, which has been a major hurdle for cannabis companies to reach profitability. It would also encourage more...
Breakthrough confirmation on insane volume. Looking to pump well beyond the 1$ region. Despite cray money mismanagement, CGC is definitely undervalued currently and in the short term there could be some strong volatility upwards.
The price of Canopy Growth is currently relatively flat. However, we believe a significant setback is needed to complete the white wave II in the turquoise target zone between CAD 0.430 and CAD 0.265, as expected. Only then should a significant move higher occur in the form of the turquoise wave 1, which should extend to around CAD 1.20. Alternatively, we see a...
Relentless selling for months. Price has now started levelling off and forming a bottom. RSI off the floor and hovering nicely. Room to run from here. Lots of shorts for rocket fuel. BBs narrowing so a good squeeze is due.
Price has collapse in a unusually orderly manner; staying within a six month long channel. A Bull AB=CD has printed. A more conservative stop can be used. I chose a 5:1 to compensate for the risk of this pig going under. If speculators lose their minds over this sector again, a move to target 1 may occur.
DYDD
From a Technical standpoint, there looks to be a significant traceback now. Large volume signaling short covering and a renewed interest in this stock now that it has reached somewhat fair value.
Of course, be weary trading this stock as it is possible it is also worth nothing. But considering STZ still has its sizeable share, i see this stock bouncing up a bit...
