WEED has broken out of its downward trend line. Probably getting a push with the boost in healthcare and biotech.
If it can breakout some more and hold key support I will be a buyer. WARNING very risky stock. Proceed
according to your fully tested trade plans.
After the Break of the multiple tested supportlevel@ 9, 5CAD the stock gained downdynamic - the obligatory retest of this Breakoutlevel last week initiated an acceleration of the downmove. But where will this downmove end?
Yesterday we not only kissed the EMA 200 - we closed below it! This is a very negativ technical signal in the midterm/longterm view.
The RSI...
While many marijuana stocks fall have small market caps, investors are not stuck investing in marijuana penny stocks, though those can be very profitable.
For investors looking for the one of the best marijuana stock to invest in, while ACB stock may be the more enticing option, their best bet could be Canopy Growth Corp (TSE:WEED).
The first billion-dollar market...
I'm seeing a descending triangle formed since earnings mid-Feb. The triangle sees a failed backtest on 11-Apr, and a battle at long-term (and psychological) support of $9.50 CDN. I'm anticipating a possible fall to the previous psychological support of $9 CDN, but with earnings around the corner, there could be a breakout in anticipation.
I'm a long-term investor...
As we all know, Canada is making big moves towards legal use of cannabis and announced that it will be fully legal in 2018. Many investers are asking themselves if pot stocks will take off.
Well as we all know no 1 knows the truth about what will really happen with pot stock's.
But from personal experience and analysing the cannabis market I think that many pot...
Last eruption of WEED was during nov 2016, A retest of the high was due yesterday and today after earning we se a re-bounce of Fib 50. I take the trade and with a 6% SL but with a 3 time R/R ration,, This is my thinking
