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Canopy Growth Corporation

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CGC: Starting something big or the last gasp?The Friday spike is curious. It has broken out of the balance area that the bottoming process was putting in for the last week or so, but there is going be huge resistance at about $1.18. The problem is from Elliott Wave perspective, there is no more room to go down. The low came in at $1.02 and invalidation is at $1.01. So, it is either a start of something serious crazy in the upcoming months or this is the last gasp before the downtrend continues eventually to 0...want to see a five waves up and a three waves down to get a feel for what's next.
NASDAQ:CGC
by mukit1
4
A CASE FOR TECHNICAL ANALYSISHello, Over time, we have been challenged to prove wetherit is possible to make money through technical trading. Here is a short strory about Paul who was able to exactly demonstrate that. One example of a technical stock trader who rose from rags to riches is Paul Tudor Jones. He started his career in the 1970s as a clerk on the trading floor, but he quickly learned technical analysis and began trading futures contracts. Through his use of technical indicators and chart patterns, he was able to make successful trades and eventually started his own hedge fund, Tudor Investment Corporation. Jones' success as a technical trader allowed him to amass a fortune, and he is now considered one of the most successful traders in history. LIFE JOURNEY Paul Tudor Jones was born in Memphis, Tennessee, in 1954. His father was a cotton broker, and Jones was exposed to the world of trading from a young age. He went to the University of Virginia and studied economics, but he was more interested in the markets than in academia. After graduation, he got a job as a clerk on the trading floor of the New York Cotton Exchange. Jones quickly realized that he wanted to become a trader, but he had no capital to invest. So he borrowed money from friends and family and began trading futures contracts. He was a quick learner and started using technical analysis to identify trading opportunities. Technical analysis involves analysing market data such as price and volume to identify trends and patterns, and Jones became a master of this approach. In 1980, Jones started his own hedge fund, Tudor Investment Corporation, with just HKEX:30 ,000. He continued to use technical analysis to make successful trades, and his fund grew rapidly. In 1987, he made a fortune by correctly predicting the stock market crash and profiting from it. By the end of the year, his fund was up 200%, and he had become a legend in the trading world. Jones continued to refine his trading strategies over the years, and he was one of the early adopters of computerized trading systems. He also became a prominent philanthropist, donating millions of dollars to charitable causes. Today, Jones is worth an estimated $6.4 billion, and his hedge fund is one of the largest and most successful in the world. Technical analysis works but you must become good at it to make money. Good luck & all the best in your journey
NASDAQ:CGCEducation
by thesharkke
CGC | Time to Get High Again | LONGCanopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. The company's products include dried cannabis flower, extracts and concentrates, beverages, gummies, and vapes. It offers its products under the Tweed, 7ACRES, 7ACRES Craft Collective, DOJA, Ace Valley, Quatreau, Deep Space, First + Free, Surity Pro, Spectrum Therapeutics, Vert, Tokyo Smoke, Twd, Martha Stewart CBD, DNA Genetics, BioSteel, Storz & Bickel, This Works, HiWay, Simple Stash, Whisl, and Truverra brands. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. Canopy Growth Corporation was incorporated in 2009 and is headquartered in Smiths Falls, Canada.
NASDAQ:CGCLong
by DivergenceSeeker
CGC: need to find the ground under its feet/rootsEither CGC is completing a cycle degree wave 2 or going to 0. The recent price action looks like bottoming formation. We are getting weekly level RSI bullish divergence confirming the downtrend is slowing. We need to see divergence on intermediate degree 3 and 5 and also minor degree 1/3/5. If we see a bounce back to $2 and another quick lower low that doesn't breach $1.4, it could be a low risk entry for some insane level of price action. If price breaches $1, it is game over for this. If price goes above $3 now, then the bottom is most likely in. A relative low risk entry point might be setting up very soon. I get comments on pot stocks that fundamentals do not call for a price pump. The truth is, fundamentals are crap for all the pot stocks, it's purely speculative like penny stocks or some crypto. No one should put more than pocket change to trade these and surely should not be a long term holder. Eventually, these companies will need to get their acts together or die. For now, going with EW speculation.
NASDAQ:CGC
by mukit1
6
CGC: Waiting for the setup againAt this point of time if last low $2.09 breaks then it might go down to buck and some change. As long as $1 is not breached, there is still a potential for CGC to see some higher prices. If $1 breaks then the path to 0 opens up. On the other hand, if price starts to climb here, then I would like to see a breach of $3.20 and that becoming support. Price should not go any lower to keep that possibility alive. Ultimately if $5 becomes support, then there could be some hope for CGC to see double digit prices again. Having a positive cross on the daily MACD would be a start. Want to see a setup to short below $2.09 and long above $3.23.
NASDAQ:CGC
by mukit1
CGC Potential for Bullish Continuation | 31st January 2023Looking at the H4 chart, my overall bias for CGC is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. Looking for a pullback buy entry at 2.78, where the 23.6% Fibonacci line and overlap support is. Stop loss will be at 2.52, where the previous overlap support is. Take profit will be at 3.43, where the overlap resistance and 50% Fibonacci line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NASDAQ:CGCLong
by FXCM
CGC Potential for Bullish Continuation | 31st January 2023Looking at the H4 chart, my overall bias for CGC is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. Looking for a pullback buy entry at 2.78, where the 23.6% Fibonacci line and overlap support is. Stop loss will be at 2.52, where the previous overlap support is. Take profit will be at 3.43, where the overlap resistance and 50% Fibonacci line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NASDAQ:CGCLong
by Rockqet
Canopy Growth: Ball Drop 🪩Just like the Ball in Times Square every New Year's Eve, the Canopy Growth stock is currently dropping it low. We expect the course to dig deeper into the blue trading area between C$3.49 and C$0.70 until it finishes the grey wave II. After completion, we're expecting the course to rise further North in the longterm. In our alternative scenario, the Canopy Growth stock course might exceed the C$5.55-mark already now, without pushing for further lows below the support line.
TSX:WEED
by MarketIntel
1
Weed stocks downtrend may break. Very early to tell and all breakouts at some point look at bit like a double bottom, but this looks a bit like a double bottom. Been wanting to buy weed stocks since the high and all the way down. I think cannabinoids have many potential benefits and may be an important industry. Just didn't make sense while it was in a speculative bubble and didn't make sense when it was winding down that bubble in a protracted downtrend. I think we've now reached a point where there's good RR on the long and we have a fairly reasonable way to define a stop betting on the double bottom formation.
TSX:WEEDLong
by holeyprofit