emotionallydetached

Canopy Growth Corp idea - smoke one up at the trendline

Long
NYSE:CGC   None
Canopy looks overbought, if it cannot turn resistance to support on this second attempt, expect it to fall back to the diagonal trendline support. This would be a great point of entry for the next move upwards.

Indicators:

RSI shows overbought, a move down to the diagonal trendline would be in line with previous support zones on the RSI .

Support/Resistance: meeting the horizontal resistance now, may need to re-test it again before breaking through.

Green box indicates buy zone. This is invalidated if Canopy breaks through horizontal resistance and turns it to support.


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