Despite being extremely overvalued, chart technicals are mostly good. MACD and RSI have cooled down over the past week and it's poised for further growth. I expect CGC will see another day of gains tomorrow, and end the week green. As Tilray consolidates, and CRON continues to oscillate wildly, this will enjoy steady, but slower, upwards acceleration throughout the end of September. There will likely be down days, of course, but I believe we will continue to see a rise in at least CRON and CGC in the first couple weeks of October in anticipation of Canadian legalization on October 17.
I'm currently strangling CGC and CRON with put strikes directly below the current price and moderately out of the money calls.
I'm currently strangling CGC and CRON with put strikes directly below the current price and moderately out of the money calls.