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Canopy Growth Corporation

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(CGC) Daily Bull Bat - Type1.5 entryI have plotted a large Bull Bat pattern that merely yielded a natural harmonic reaction. News of a reverse split and a dilution deal with the enemy have caused the move to new all-time lows. Despite this, the large Bull Bat pattern is still in play. Note the Bull Shark(blue), Bull 0.618AB=CD(pink) and Bull AB=CD(teal). The natural levels found within each distinct pattern are collectively pointing towards $2.85 as a sort of maximal pattern excursion level; price ought to hold here. Note the 'not steeply inclined' downtrend line beginning on Feb. 16. and buy the breakout if price continues to hold near the $2.85 level leading into the breakout. I have plotted four price targets in thick green line. The dashed line is the .382 retracement from current high to low and the others are harmonic pattern targets.
NASDAQ:CGCLong
by moleman340
7
High Hopes: Riding the Green WaveAfter a long and exhausting bear market, cannabis stocks are back in investors' focus. Stocks like Canopy Growth are booming. A gold rush atmosphere is emerging, reminiscent of the early years of Bitcoin and other cryptocurrencies. Are we seeing perpetual green candles or rather dense, stifling fog? As always in trading, it's about controlling risk. And here, we see an almost insane potential with Canopy Growth. However, we recommend waiting for a temporary pullback to enter the market at around $8.11. This long-term trading idea offers an almost ludicrous risk-reward ratio of about 59:1. The price target seems very ambitious. Please note that this is a logarithmic representation. The seemingly absurd price target is put into perspective when considering that it's only the 38% retracement since the all-time high.
TSX:WEEDLong
by Ochlokrat
Germany Greenlights Recreational Cannabis, But With CaveatsGermany's Federal Council has given the green light to a bill legalizing recreational cannabis for personal use, marking a significant shift in drug policy within the European nation. Despite facing criticism and opposition, the legislation, passed by the Bundestag earlier, paves the way for individuals to possess and cultivate cannabis starting April 1, albeit with certain restrictions. While the approval signals a milestone in Germany's approach to cannabis regulation, the journey towards legalization has been far from smooth. Several federal states voiced dissent, with only a handful advocating for a renegotiation of the law. Ultimately, the absence of a majority for an appeal to the mediation committee cleared the path for implementation. Health Minister Karl Lauterbach, a key proponent of the law, emphasized its potential to safeguard the younger generation by curbing consumption and dismantling the black market. The legislation, coupled with increased funding for addiction prevention measures, underscores the government's commitment to public health and education. Under the new law, adults aged 18 and over will be permitted to possess up to 25 grams of cannabis and cultivate up to three plants for personal use. However, strict regulations prohibit smoking in public spaces, including schools and sports facilities, ensuring responsible consumption. Moreover, the legislation introduces the concept of cannabis social clubs, enabling up to 500 members to collectively cultivate and exchange cannabis within defined limits. This initiative aims to foster community engagement while providing a framework for responsible cannabis use. Looking ahead, the government plans to evaluate the law's impact on youth protection within 18 months of implementation. Additionally, discussions are underway to explore the controlled sale of cannabis through pilot programs, mirroring successful initiatives in neighboring countries like Switzerland and the Netherlands.
NASDAQ:CGC
by DEXWireNews
Canopy Growth Poised for German Cannabis Market BoomIn a groundbreaking development for the global cannabis industry, Germany's decision to legalize cannabis marks a significant turning point, paving the way for increased access and growth opportunities. Canopy Growth Corporation (Nasdaq: NASDAQ:CGC ), a leading player in the cannabis sector, stands poised to capitalize on this historic moment, positioning itself for accelerated expansion and market dominance. Germany's Cannabis Legalization: A Game-Changer The German government's approval to recognize cannabis as a non-narcotic represents a monumental shift in policy, signaling broader acceptance and normalization of cannabis consumption. Effective April 1, 2024, adult consumers in Germany will be able to legally access cannabis products without fear of prosecution, a move applauded by industry stakeholders and advocates alike. Canopy Growth's Strategic Advantage For Canopy Growth ( NASDAQ:CGC ), the legalization of cannabis in Germany presents a unique opportunity to bolster its commercial presence and solidify its position as a key player in the German market. Leveraging its diversified portfolio, including the renowned Storz & Bickel vaporizer brand and Canopy Medical's medical cannabis offerings, the company is poised to capture significant market share and drive revenue growth. Storz & Bickel: Leading the Vaporizer Revolution With the legalization of recreational cannabis, Storz & Bickel stands to benefit from increased demand for its premium vaporizer products. As one of the most respected brands in the industry, Storz & Bickel is well-positioned to capitalize on the burgeoning German market, offering consumers the highest quality vaporization devices backed by years of expertise and innovation. Canopy Medical: Meeting Patient Needs For Canopy Medical, Germany's reclassification of cannabis as a non-narcotic represents a major breakthrough in patient access to medical cannabis. With the potential for more patients to explore cannabis as a treatment option, Canopy Growth is committed to delivering high-quality products that meet the diverse needs of patients while driving awareness and education within the medical community. Driving Awareness and Collaboration Beyond product offerings, Canopy Growth ( NASDAQ:CGC ) is dedicated to driving awareness and fostering collaboration within the medical community through educational initiatives and partnerships. By engaging with physicians and patients, the company aims to promote the therapeutic benefits of cannabis and establish itself as a trusted provider of medical cannabis solutions.
NASDAQ:CGCLong
by DEXWireNews
"Canopy Growth Corporation Faces Critical Support Test"Canopy Growth Corporation: Navigating Market Challenges and Strategic Goals Canopy Growth Corporation, a prominent player in the cannabis industry, has been a focal point for investors seeking exposure to the rapidly expanding market for legal marijuana products. As one of the largest cannabis producers globally, Canopy Growth has garnered attention for its ambitious goals and strategic initiatives aimed at capitalizing on the burgeoning demand for cannabis-related products. Founded in 2013, Canopy Growth has quickly risen to prominence, establishing itself as a leader in the cannabis industry through a combination of strategic acquisitions, innovative product development, and global expansion efforts. The company's primary focus is on cultivating, producing, and distributing a diverse range of cannabis products, including dried flower, oils, edibles, and beverages. In recent years, Canopy Growth has achieved several notable milestones, reflecting its commitment to growth and innovation. These achievements include expanding its production capacity, securing distribution agreements with leading retailers, and launching new product lines to meet evolving consumer preferences. However, despite its successes, Canopy Growth has faced challenges in navigating the volatile cannabis market, particularly in the wake of a prolonged distribution bear market that has persisted for the past five years. The company's stock price has experienced significant fluctuations, reflecting the uncertainty surrounding regulatory environments, shifting consumer trends, and competitive pressures within the industry. Recently, Canopy Growth's stock price experienced a sharp retracement, testing critical support levels around $18 per share. With the stock now poised to retest its previous lows at $4 per share, investors are closely monitoring the situation for signs of a potential breakout or breakdown. The recent spike in volume accompanying the bounce from support suggests heightened volatility and the potential for significant price movements in the near term. Bears may attempt to crack support levels, with the possibility of a further downward spiral if volume flows through aggressively enough. In such a scenario, the stock could potentially retest long-term downward support levels around $2 per share. On the other hand, if Canopy Growth manages to break out of its current pennant pattern, investors may view this as an opportunity to enter a position targeting the top of long-term resistance levels. A successful breakout could pave the way for renewed upward momentum, offering potential upside for savvy traders. In conclusion, Canopy Growth Corporation continues to navigate challenges in the cannabis market while pursuing strategic goals aimed at driving long-term growth and profitability. As the company grapples with support levels and potential breakout opportunities, investors should remain vigilant and adaptable, prepared to capitalize on emerging trends and developments in this dynamic industry.
NASDAQ:CGC
by UnknownUnicorn2319099
3
CGC: Watching For A Bullish MoveCGC: Watching For A Bullish Move CGC / Canopy Growth Corporation (Cannabis) The cannabis sector didn't perform well during the last two years. However, it is worth taking the chances when we see good trading opportunities despite the bad performance it is showing for mid-term trading. From the chart, we can see that the price rose several times from the same area where it is now. CGC reached the lowest price during the summer of 2023 near $3.65. From this zone the price bounced several times and the moves were good and created in a short period. These moves have a minimum boost of +70%. You may find more details in the chart! Thank you and Good Luck!
NASDAQ:CGCLong
by KlejdiCuni
2
CGC (cannabis stocks 🔥) "Looks bearish ATH"cannabis stocks in 2024 have been showing remarkable potential and resilience, reflecting a burgeoning industry with promising prospects. The landscape continues to evolve, presenting exciting opportunities for growth and innovation. With increasing legalization, expanding markets, and advancing technology, the future looks incredibly bright for those investing in cannabis. It's a dynamic sector with significant room for growth, making it an inspiring space to be a part of.
NASDAQ:CGCLong
by TrojanBible
CGC 🆕Investing in cannabis stocks has been a rollercoaster ride, with fluctuating values due to legal, regulatory, and market factors. Despite volatility, the future looks promising as legalization continues in various regions. Motivation lies in the potential growth as the industry matures and gains wider acceptance, leading to increased market opportunities and potential profits for savvy investors. Understanding the landscape, staying informed about legislative changes, and diversifying your portfolio can help navigate the uncertainties and maximize the potential of cannabis stocks in the long run
NASDAQ:CGCLong
by TrojanBible
CGC (Cannabis stock )Investing in cannabis stocks has been a rollercoaster ride, with fluctuating values due to legal, regulatory, and market factors. Despite volatility, the future looks promising as legalization continues in various regions. Motivation lies in the potential growth as the industry matures and gains wider acceptance, leading to increased market opportunities and potential profits for savvy investors. Understanding the landscape, staying informed about legislative changes, and diversifying your portfolio can help navigate the uncertainties and maximize the potential of cannabis stocks in the long run
NASDAQ:CGCLong
by TrojanBible
Canopy Growth Announces Effective Date of Share Consolidation Canopy Growth Corporation (NASDAQ:CGC) announced on Wednesday that its board of directors has approved the consolidation of its issued and outstanding common shares based on one post-consolidation common share for every ten pre-consolidation common shares. The consolidation, which was previously approved by shareholders at their annual general and special meeting on Sept. 25, is being implemented to ensure that the company continues to comply with the listing requirements of the Nasdaq Global Select Market, the Ontario-based company said in a press release. Now, the consolidation is subject to approval by the Toronto Stock Exchange (TSX) and is expected to become effective on Friday, Dec.15, with the post-consolidation common shares commencing trading on the TSX and the Nasdaq at market open on Wednesday, Dec. 20, subject to final confirmation from the TSX and the Nasdaq. Technical Analysis NASDAQ:CGC stock may face resistance at the 50-day moving average of $0.6092 and support at the recent low of $0.545. Waiting for a confirmation of a trend reversal before entering or exiting the market would be very crucial.
NASDAQ:CGCLong
by DEXWireNews
Weed Rescheduling Trading StrategyHello friends. I made a good profit from the initial announcement that weed stocks would be rescheduled because I foresaw a news event like that occuring and purchased a position in weed stocks before anything happened. Then I sold near the top, since the trade has become crowded, and now I am waiting for a good entry point again. I think that another big opportunity is coming soon, but we will have to be patient. Here is how this works: The HHS has recommended for the DEA to reschedule cannabis from a Schedule 1 substance to a Schedule 3 substance. This would have some benefits for the weed indudstry, but most importantly, it creates euphoria for traders, who rush in to buy up the stocks. And here is an interesting question to consider: Which weed stock are largely uneducated retail traders who have just learned about this news and want to ape into the trade late most likely to buy? Well, probably the one with the ticker: WEED. Purely because of the ticker, they will discover this stock in far greater numbers. This is an important concept to remember. To see another example of tickers being extremely important, look at the ticker AI, which was one of the best performers during the AI bubble that occured this year. We were able to predict the parabolic rise of the AI ticker, purely based on the fact that a bubble was forming combined with the fact that this ticker would likely be at the center of it, due to mass discovery from retail traders searching "AI" and seeing this ticker pop up first. We can see how this theory worked in practice, since while most stocks only rose 50-100%, WEED rose an incredible nearly 400%. So, when will the DEA make their announcement, which will be extremely likely to send this stock rocketing along with all other cannabis-related stocks? Well, it will likely occur within 90 days of the initial recommendation, but there is no guarantee. Government agencies are incompetent, slow, and stupid. As a result, we can't expect a reliable timeline from the DEA. What we can strongly rely on though, is that they will follow the HHS recommendation and reschedule, since this is what they always seem to do. The best strategy is to go ahead and wait this out for the next month at least, and then when the time is drawing nearer, start to average into a position on weed stocks. Over time their prices will likely continue to slowly fall, as retail idiots who bought into the peak of the weed trade eat their losses. As I have explained, my top pick is WEED, but literally anything in the cannabis industry should be expected to rally. When the news event occurs, weed stocks will likely rally sharply for a couple of days, and then the rally will be over, and they will start to fall again. We should hope to exit before they fall over, by keeping an eye on how publicized the news is so far. If everyone has already heard about it, it's over, and it's time to sell.
TSX:WEEDLong
by bowtrix
4