Canopy Growth (CGC/WEED) currently in a bear flag pattern. Watch for confirmation/invalidation over the next few days.
It has broken and backtested the green resistance. It can rally only if it can break the red resistance at 5.5. If it breaks, the golden bottom band, more downside awaits.
Looking at the H4 chart, my overall bias for CGC is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. Looking for a pullback buy entry at 2.78, where the 23.6% Fibonacci line and overlap support is. Stop loss will be at 2.52, where the previous overlap support is. Take profit will be at 3.43, where the overlap...
Looking at the H4 chart, my overall bias for CGC is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. Looking for a pullback buy entry at 2.78, where the 23.6% Fibonacci line and overlap support is. Stop loss will be at 2.52, where the previous overlap support is. Take profit will be at 3.43, where the overlap...
CGC coming off a big weekly double bottom. Increasing volume and looks like a nice wave 1,2,3 here is a fid extension for targets. I know I know, its a weed stock. But $CGC looks like a long.
Opportunity for a double here. All mj's ready for a big move up. Today CGC is a buy with a stop at 2.80, good luck!
With a news catalyst, of the pardoning of all cannabis possession federal convictions, POTS put in some wide range green candles to celebrate the increasing sediment towards federal legalization. As the 15-minute chart shows, a downtrending line was broken by price and then retested. The setup is ripe for a swing long at this time. I see the constituents...
Just a technical analysis. There might be reasons to buy in the near future.
Everything is clear on the chart... I am going long on this one ASX:CGC
Big level of interest for Canopy Growth NASDAQ:CGC trying to fill the July 25, 2016 gap from 2.15 to 2.20 —post-bull pennant. Pot stocks have taken a beating since the 2021 highs (pun intended). They're clearly oversold BUT they're sitting without a catalyst from the Biden administration toward marijuana legalization efforts. If you're into dumpster...
As stated in the previous analysis for bigger picture please check previous for smaller period see out it is going to be played. Higher chance of Cup and handle!
This is an update of a previous recent idea. The MJ composite has had a pullback and shows bullish RSI divergence. It is at support and has various resistances dynamic and stationary above. The time is now to analyse the preferred symbols / stocks within the composite. ( Alcohol thrived during the Great Depression, no reason not to assume that cannabis...
Seeing the growth and innovation that has occurred in recent months shows that the big wave is incoming. This formation clearly refers to pull back and bottom. Even one of the most conservative countries of Europe; Poland has given the Market Authorization to Tilray, Inc. (TLRY). Also, the election vibe has been taking charge of global media, federal legalization...
Today a bunch of cannabis stocks showed up on my screener with some good price action and high relative volume. I set up a composite chart using some of the more heavily traded stocks but no OTCs as well as a couple of the ETFs and the REIT IIPR which manages and leases indoor cultivation farms. While I found the composite price had been drifting...
MJ etf is looking like it broke the weekly downtrend after weekly bullish divergence. However, the week is early and it doesn't mean it can't go lower and retest the trendline under 6 dollars again - it can. Regardless, MJ stocks might be in a bottoming "area" and are worth a watch. Targets as of now 8.50 and 10.50 on the MJ etf.
Taking a long again here on TILRAY, looks like a leading diagonal pattern was wave 1, now we should see support from here to start wave 3. Retest of breakout with hourly bull divergences. Looking for 7+ in the coming weeks.
TLRY breakout with daily bull divergences and now others catching a bid. Watch the MJ sector for out performance if the stock market has that rally to 4100. Enjoy
All in the video, nothing to buy yet, but there are some signs of strength this week even with the market tanking. Tickers covered - MJ, CGC, TLRY, CRON, MSOS