Shorting CGC as poor earnings, Black market marijuana cut their prices as soon as legalization happened.
Core companies or government marijuana is known now is weak and hasn't made much gains due to high prices.
They don't know their competitors and understand their market. More poor earnings to come.
August 2 EXP debit spread $390 entry and exit will be $200...
CGC is beginning to develop some two sided trading and transitioning into a broad bull channel / bull flag trading range. (All channels are a form of a slanted trading range and ultimately evolve into a large trading range). Prices are currently around the middle of the trading range, where the directional probability is close to 50/50. The high 2 buy setup a...
Some months ago I spoke about a possible bubble on Canopy.
Actually we are near a break out situation.
50 dollars is acting since end of august as resistance. 3 attempt and no success. Price is since 5 months contracting in a range of less than 15 dollars and the trendline of the...
4 h look brearish
weekly look bullish
1 sl under 42 for load back at 40 and 38.50 level strong support zone
2 wait drop to the 40 area and put sl under
sl must be use
trade play swing trade
reward ratio 6% 25%
break out 44 cross
drop 42 will mean 40 and 38.50 cross under will mean drop to 34 26 area
targets 44 47 50
I bought a Vertical Put Spread at $200
Spread is exp May 17 Strike 42.5/37.5
max profit is $300 if exp below $37.5
CGC has been fading as it drags lower due to investors being torn between ACB and CGC.
Symmetrical triangle didn't work out as there was 3-4 false breakouts which moved it lower in the end through 60 support.
This is a support/resistance...
on May 15 I published this forecast for „Canopy Growth“ (CGC), a Cannabis stock.
This is an example of a missed forecast and the importance of consequent Stopp loss management.
Read the forecast by following the link below:
Nearly five weeks later, the picture...
$CGC had earnings today on the negative side. If you look at the Daily Chart on the left you will see that its below all its major moving averages (20ema,50sma/100sma/200sma) but its making a higher relative low so a slight concern there as this is slightly bullish (showing strength). Now if you look at the 15 min chart on the right (I use the 5 min and 1 min...
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...
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,...