CGC
LONG CGCExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Cara, the Cannabis Pharma Sector leaderLight weight company with a strong cannabis product niche. Technical bullflag setup, needs macro bull trend to hold up, and then a company specific catalyst to breakout for new ATHs
$CGC equilibrium mode established$CGC Cup and Handle formation complete. Now in equilibrium mode between 28.74 & 27.85, form a higher low / lower high and then run to close the gap at 29.62 then comes 31.97$.
CGC will fly?Let admit, this is and will be a big industry in the future, and I think that soon those stock will be good stuff to put money in and hold it there for many years. But, till that day come I will just trade tose green gold stocks. Right now I will go with CGC, and here is why:
RSI is in good shape to break 50 levels,
The price is holding above the mighty Fibonacci level,
The worst thing that can happen is to lose 2%,
The best what will happen is to gain 7% till November
My play is to buy with 2:7 R/R
CGC price consolidatingCGC’s innovation outlook is neutral based on a current score of 54 out of 99, outperforming sector average.
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Get High Returns: Long PsycheMedicscompany with a few decades of history, niche product/ market, remains fairly innovative
debt vs. cash +cash flow is net positive. low share count float
Buyout Target
ACB Moving into Earnings todaySlight bearish convergence on the Stoch, and also RSI indicating a possible hourly pullback. Earnings are guided, so the revenue figures are not very likely to drive the price upward. We're looking for profitability. ACB predicted Q4 profitability. The press release issueing earnings guidance only mentioned that they are moving closer to achieve positive EBITDA. Any disappointment on that front will see ACB retest key support at $5.89, and possibly the lower $5 range.
ACB is currently at the top of its downtrend channel, after a nice bounce. Bulls are looking to break $6.30 on large volume to see the price move back up to test $6.65 and $6.83.
Regardless of all the positive news and change in broader market sentiment, not a single pot stock has posted a higher high above a long term downtrend. I feel that all of the past few days' moves, has been correctional, and not neccessarily bullish.
I do feel, however, personally, that the current price levels present excellent buying opportunities for long term investments. If your time span is 4 to 5 years, then ACB, APHA and CRON are buys. CGC, on the other hand, could still have significant downside. I think that the King of Cannabis is about to be de-throned.
Has anybody considered Creso Labs, btw. No debt, pure USA play, excellent pressence, and much worth a closer look.
Please share your thoughts?
CGC, what a disasterNo clear path to profitabilty, Linton out the door, Constellation in charge. This is NOT the same company we were so fond of, earlier this year. Don't be fooled by that weak bounce, yesterday. As long as weekly resistance of $25.57 isn't broken, this stock has more downside ahead. Loss making, burning through cash. They announced recently that they won't be profitable for at least another year and a half. That should be an indication that we can expect another $250M loss in the upcoming quarter.
I think that we'll see CGC below $20 before the year is over, and at that price, it would still be too expensive.
Disagree? Please share your thoughts :-)
Take a hit on CGC?It's possible the bottom is in for CGC, although I'm not certain. It still "feels" a bit shallow to me, but there's no denying we have a nice little rally. I wish the volume was more pronounced, so it makes me hesitant to say the "bottoms in".
I do think it's a buy at 27 or under as the daily momentum should push it to the trendline at 31 within a few weeks (also this is at the .382 fib and the gap fill area).
However, if the general market starts to sell off, the MJ stocks will definately be dumped and I can see this going to the support at the 17 area.
Please use appropriate stops!
Good luck and trade safe!
LONG CGC
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
weedmonthly volume profile with vpoc in pink shows how just looking at 30 day volume profile details, it would give good context and bias of price and how it reacts to these volume nodes.
42.72 is price to go over for weed to become a major buy under this price it's weak
$TLRY - I expect $CGC to followjust like with chart similarities with Lyft and Uber. $TLRY tends to pave the way for $CGC.
Not alot of support on the way down for Canopy Growth. Looks like trend has completely reversed after another harsh rejection at the $50 level. Could the tide be changing?
COSTA GROUP (CGC)Possible retest at 3.50 before making a U turn back in to new lows, creating an inverted B irregular bottom scenario !!
Critical Spot For CanopyCGC Uptrend support line is being tested as we speak. If it does not hold, there is a secondary trend line of a former resistance that may turn support right at 24 area. If looking to get in long for CGC, this is a good spot simply because you can cut losses quickly if support breaks and not lose your a**. I do like the longer term prospects of this company once R&D costs and expansion costs start to wane. For now, entry at this level with a stop loss at 23.98 gives about 10:1 risk/reward ratio in favor of reward. Cut loss at 23.98 is less than 6% off current price. I bought a few more shares here, but still saving my biggest buys for either a further fall or a turnaround bounce. Happy hunting and glta!
$APHA Bullish Setup Nice move today back above the 50 DMA of $6.52. Some resistance in the $5.60s intraday but overall this is a great swing setup and the best looking chart in the sector
Target 1: $6.71
Target 2: $7.05
Target 3: $7.22
CGC near to strong support lineCGC near to strong weekly support line. possibly long setup. wait for 123 pattern. We are in a very critical support level at $27.37. we tested it twice in Aug and Dec 2018. and rebounced greatly gaining nearly 78%. it is a must to watch CGC next week to see whether it would break it out or not. Keeping an Eagle eye on it and also on this other biotech company as well .
