3.618 in log scale, not every day that we see these.
If retracement levels of wave 4 are respected and we form another impulsive wave (5)...
Retrace should be bought to long this one because we might be seeing a potential reversal on a macro scale.
Perhaps the most dangerous market other than crypto has seen some roaring moves with the leader CGC up an enormous 82% today.
The herd will be FOMOing and will likely get trapped but we're going to wait and see if a tidy pull back at a significant liquidity landmark will come to us.
RSI up to 90 and hitting the 200 day MA it is unlikely this trend will have much...
Cannabis stocks are smoking hot right now with CGC clocking up almost +400% in a matter of days ... This comes after a long protracted "downer" from all-time highs in the 50's
Price has now hit up against the down sloping 200dma, perhaps some consolidation before breaking through to new highs?
$2.13 is next major resistance which if broken could see the stock...
Trade open with a stop loss to the downside in case it does not pan out. Not wanting to hold while this goes sideways. Even given its past track record, it is very undervalued and primed for a short squeeze that would boost it to $1.00+
Cannabis stocks are rallying on news that the HHS has recommended the DEA reschedule cannabis to schedule 3. This would significantly improve financials for cannabis companies because it will allow them to begin deducting business expenses from their taxes, which has been a major hurdle for cannabis companies to reach profitability. It would also encourage more...
Breakthrough confirmation on insane volume. Looking to pump well beyond the 1$ region. Despite cray money mismanagement, CGC is definitely undervalued currently and in the short term there could be some strong volatility upwards.
The price of Canopy Growth is currently relatively flat. However, we believe a significant setback is needed to complete the white wave II in the turquoise target zone between CAD 0.430 and CAD 0.265, as expected. Only then should a significant move higher occur in the form of the turquoise wave 1, which should extend to around CAD 1.20. Alternatively, we see a...
Relentless selling for months. Price has now started levelling off and forming a bottom. RSI off the floor and hovering nicely. Room to run from here. Lots of shorts for rocket fuel. BBs narrowing so a good squeeze is due.
Price has collapse in a unusually orderly manner; staying within a six month long channel. A Bull AB=CD has printed. A more conservative stop can be used. I chose a 5:1 to compensate for the risk of this pig going under. If speculators lose their minds over this sector again, a move to target 1 may occur.
DYDD
From a Technical standpoint, there looks to be a significant traceback now. Large volume signaling short covering and a renewed interest in this stock now that it has reached somewhat fair value.
Of course, be weary trading this stock as it is possible it is also worth nothing. But considering STZ still has its sizeable share, i see this stock bouncing up a bit...
CGC broke through the wave 2 invalidation level of $1.01 to an all-time low. This can become a waterfall to another 50% decline very soon. However, RSI is showing positive divergence in all higher timeframes. At this point the previous cycle is over and a new cycle is about to start or it's going to 0. I'll check back in a year or so, to see if the company is...
The 15 minute chart may have printed an impulsive move upward.
The new invalidation would be about $1.05 from this recent correction. With a close of $1.07 we could get some clarity soon if this reversal plays out.
The bull case needs to see a $1.37 touch while the bears will expect to push back to $1.00 and below.
This speculation case for CGC continues.
Could we see a bankruptcy followed by a penny stock?
It is not out of the question but right now a slight bullish divergence has occurred on some technical indicators so it was worth taking a guess at some potential upside targets. It has held the $1.00 on this never-ending sell off but with some headlines and an earnings...
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...
