Real title should be - "Bulls looking to base support after bull break fakeout
I still believe the bull break was real and until we break and will continue to believe so until we break daily levels. Here's what I'm watching heading into tomorrow
CGC is currently in a very tight equilibrium pattern. Although these conditions are not ideal for active trades or anyone looking to trade short term, they are ideal for those of you whom are patient and are willing to wait for a break to enter a short/long position.
Equilibrium patterns are my favourite pattern to trade from upon breaking as there is generally...
Topside resistance: 48 psychological, break could lead to previous highs 50-55 range, up to 15% profit potential, if not ATH.
Bottom support: 45 psychological & 43,71 previous Higher Low/trendline coming in. Break could lead to HL compared to 25.15, => further tightening EQ range on the Weekly.
Watch for volume when break occurs, in order to avoid...
In my opinion, the if the bulls had interest in breaking out to the upside, we would have already found our daily higher low by now. A counter argument is that we're basing support here, but the imminent break of our two key levels will give us the direction for the coming months
Very nice bullish signals here, especially with that flag formation, quasi Cup and Handle. I’m all about Cannabis stocks in 2019 for obvious reasons, considering the more liberal evolving regulatory environment paving the way. It’s all the Benjamins baby. I wonder if B. Franklin smoked cannabis.. Hmmmm.
Options i got my eyes on:
- July 19, 2019 $50,...
Drawn out a few outcomes on this chart sym triangles can break either way its at the top of a run so it looks bullish to me but it also is coming up on the resistance marker of the previous run in October and has yet to make a higher high from that run.... so TECHNICALLY is bearish. either way heres a few trend lines and support/resistance markers for you all....
Going to setup a trade using April $47.5 calls stop-limit $4.25 (tweezer top at $4.20 on the options) with a $1 stop. Risking $100 per contract.
Upper targets low to mid $50 range. Only concern is that the gap from the last two days has no been filled, but let's see if the sellers jumping on at this resistance get squeezed up.
Nice bull flag here on $CGC. While it is in the middle of a trading channel, I'm looking for this to break to the upside. I'm looking to go long on an open above the flag around $48.40ish. 1st target is just over $50 but if it can keep moving past $51 I'd look for a retest of the October highs.
The uptrending channel in CGC gives us a confidence band that the price action is likely to stay within until the trend eventually changes. So far, every test of trendline support on the way up has provided CGC bulls with a low-risk, high-reward buying opportunity for shares. In other words, it could be a "buy the dips” stock.
The current resistance level is ...
The tightening range we've been watching for 6 weeks is going to break this week, and I'm anticipating that break will either bring us back to test our all time highs or bring us lower to find a new support above the December lows. Whether this breaks up or down, I want to see 12-15million shares traded on the day to tell me the break is for real and has...