Clear bear breaks today keep the bulls in full control of CGC and WEED in every timeframe. Currently in an area with a lack of support. A weak afternoon bounce leaves us in an hourly bear flag setup heading into tomorrow morning, bulls must hold the low of today tomorrow as a first step in negating that flag.
My Fair Value Theory;
My theory is that the blue channel is the "fair price channel" what the company should be worth, according to the market and price action. Anything outside of the channel is fair price plus speculation. The green line represents the average fair value as per how the market views the company at any given time.
My opinion (not that it means ...
Price has fallen to a rising trendline and is consolidating after a false drop below a prior low.
IF (and only IF) it breaks higher out of the consolidation is this a potential long trade.
I like the consolidation because it allows for well-defined risk control, with a stop loss placed below the consolidation or recent low.
I also like that the Nov 20 low ...
Like many stocks on the TSX, Canopy Growth Corporation has had a choppy November. The wild swings make for some very fun trading, but quite a bit of risk if you're not interested in holding bags.
Here are four trades picked up by our AllTradeSignals Volume Pressure Gauge over the past couple of weeks:
Trade #1 - 40% gain in 8 days
Trade #2 - 2.5% gain in 30 ...