What Does The Death Cross Tell You? The death cross occurs when a short-term moving average (typically 50-day SMA) crosses over a major long-term moving average (typically 200-day SMA) to the downside and is interpreted by analysts and traders as signaling a definitive bear turn in a market. The opposite of the death cross occurs with the appearance of the...
RSI Divergence on 4 hr and daily time frame should come with one more lower low. To me, this may be a great entry for a long to about 18-19 dollar area. Good Luck!
Canopy Growth Corp is down roughly -15% on the trading week as global fears over Covid19 have finally gripped markets after a month of essentially dismissing the potential negative economic impacts. CGC is currently trading within a parallel channel which began forming in late 2019, with an upper resistance level of $22.50 and a lower support level of $17.80. ...
Canpoy Growth Corp's price filled the gap(blue dashed lines) that was created on February 13th -14th with a close today of $20.30, a gap fill that was anticipated after price failed to move higher last week and back into the rising trend channel(orange lines). Today's price move can mostly be attributed to the overall selloff in global equities last night into...
There's also merit for a another Inverse H&S to play out here, after a few more trading days next week we may see the shoulder continue to develop or a retest of the bottom upward sloping line of the Ascending Triangle, which would also negate the inverse H&S narrative, but the bottom of the ascending triangle could still hold & result in a bullish outcome, keep...
CGC created a gap in price last week when it made the jump back above $20 and has so far failed to move back above a previous support line(orange) which is now acting as resistance. Gaps tend to be filled in charts so the longer price fails to move back above the orange line, the greater the likelihood that the gap will be filled which means price will likely...
CGC has fallen out of its uptrend channel(orange lines) and has returned to a previous consolidation range(blue lines). The trend for now has shifted back to neutral as long as price is within the blue lines; a break back above the blue channel would be bullish, a break below bearish. The PPO is indicating a negative short-term trend with the green PPO line...
CGC saw an open and close yesterday below the lower support line of a rising channel(orange lines). Using a measured move on a trendline break, price could potentially see a -25% decline which would roughly equal a -$5.50 loss taking price back down near $16. Keeping an eye on this one today as CGC tends to dictate prices for the entire cannabis sector.
CGC is testing the lower support line of a rising channel, and for now is slightly below it. A close today above the trendline would keep price leaning bullish whiule a close below would indicate a potential loss of upward momentum. Lower level to watch for support is near $18(yellow line); a close below that level going forward would be considered bearish.
CGC is seeing a nice bounce today after a successful test and hold at the uptrend line. Assuming that coronavirus doesn't spark fear in traders again this week CGC should see a test of $26, potentially even a break above. Short-term trend remains bullish.
CGC is back to testing an uptrend support line after a recent channel breakout that had looked promising until pandemic fears shook the market today. Currently watching this uptrend line to see whether or not it is able continue propping up price. A bounce here would be bullish for CGC, a break below the uptrend line would put price back to neutral, or no trend...
The retracement touched the 78.6% retracement level and now shows clear sign of recovery. The bullmarket for cannabis could might be coming to an end (smoking potential). Stoploss at lows gives a great risk/reward.
TICKER: $CGC Will history repeat itself? Just like last time, CGC is again a daily inside bar with resistance of $20.28 and support of $19.65. I do expect high volume on Monday, but the break is uncertain until it happens. Don't be bias and watch the charts because price action is KING. I will be watching CGC closely next week and again, will either go long or...
This is a very apparent inverse head and shoulders on the 4hr time frame. The stock has been butchered in the last few months. Seems like since the new CEO announcement, the stock developed this inverse head and shoulder bottom. It's currently sitting right on the neckline. Watch for a breakout on the neckline.
Welcome to Fxtrading services, we provide Forex mentorship to our costumers. We are watching this stock very closely as potential long.
Pot stocks have had a rough few months, and shareholders of Tilray have been hit especially hard as shares have dropped 55% since early August. Much of that decline can be traced to disappointing earnings results. In mid-August, Tilray showed sales growth in Q2, as revenue jumped nearly 400%. However, management's aggressive spending produced net losses, and...
Canopy Growth Corp tanks beautifully within its recently developed down channel. Based on this rather arbitrary channel, the short term move might be stopped in the $24-$23 range. Mid term this whole setup continues to look beautifully bearish. We again saw lower highs and now for sure lower lows. Next Midterm-Support could be around $21.
After losing both 200 and 500 MA (red and orange), this is clearly long-term bearish. Even though pump continuation is possible, all potential upside is capped, most likely by 50 MA (pink), until formation of long-term structural bottom. The absolute bottom is indicated.