CGC Detailed CountTook me all weekend, but I am confident that this has rooting in reality.
INT1 complete, currently expecting INT2 sharp, but could expand. What a monster to decipher!
WEED trade ideas
CGC Detailed Elliott Wave CountFriday's price action made me take a detailed look at the internals. I've gone over every single minute of this one, and can only propose two 3 wave moves at primary degree where the recent correction entered into (1).
I am confused. Anomaly? 3-3-3 against the trend? Macro trend still down?
March to June 2020 is a 3 wave move. I've seen people assume this to be a 5 wave move, but nobody has proposed a convincing count.
October to December 2020 is 5 waves, heavily distorted when Biden appeared to win and Harris came with her pro cannabis propaganda. (not entire sure if the triple three WXYXZ is not just a double three WXY, but targets remain the same.
Then comes the bit where the entire industry suddenly went parabolic.
Normally, when waves enter into each other's territory, we consider subdividing 1-2-i-ii, but in this case, I see no alternative where such subdivision wouldn't lead to motive waves where the internal third wave isn't the shortest.
In other words, I am confused. Is (1)(2)(2) part of a cycle degree B wave and are we looking at a primary degree WXY? That makes no sense to me.
CGCIf you could the corrective sub waves, it would be reasonable to expect a bounce. Bounce could be impulsive or corrective. Two paths proposed.
ABC BullishMarket has been a bit all over the place..
Be sure C is C (o: As of late it is subject to change.
A long legged doji can reach down and find an area of support
Not a recommendation
If you love your job, you will never have to work a day in your life (o:
$CGC Retest of trend line, meeting MA100As proposed earlier, we got the anticipated retest of downtrend. Meeting MA100 at the same time.
Levels on watch.
$CGC 2021-MAR-04๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐?
The price as closed below the rising channel; however $30 horizontal support is yet to be touched. Given where the RSI is at the moment, and with that support - it should be reasonable to expect a recovery bounce is due. Alternatively, a close below that key support is going to create some selloff pressure.
CGC for long position been watching this market since i missed the last bull run ive been waiting on it to pullback its here now.....come join in if you see it too
CGC: Bounce from upward trendlineUptrend to continue. All of my analysis comes with SL no matter stock or currency.
Drop us a message for detail, it is free.
Suggested entry 35.37
CGC Why NotOvervalued as can be, but brilliant marketing will always pump this one with the broader industry. I was looking for a pull back to go long, as I didn't have a position from before, apart from some gains from individual trades. I bought into weakness today, lets see what she can do for me.
CGC retest of downtrendWonderful retest at panic selling yesterday. Found demand exactly at the diagonal.
That said, who remembers my bearish stance on $CGC, just 6 months ago, I predicted that we should wait for $CGC to dilute their float to raise cash. Yesterday announced issues of common shares to raise $2B.
How will investors react? Their market cap is ridiculous, don't think they are raising cash to buy assets. They need this money to survive.
Cgc down till earnings My observation of $cgc
All the news of pot stocks is only good news for who ever comes out with the next approved medical use.
It's great news but companies are not close to getting fda approved let's say this month so that is why I'm calling short. I bought 3/05/21 43 puts
And bought 2/12/21 43 puts
If it does breakout tomorrow I will sell all.
Futures are looking bad for the night so looking for a sell off tomorrow.
Timing Exit of $CGC Dip: Profit-taking on PutsThe entire corporate cannibus industry has really crapped the bed, along with most other sectors, over the last two-wks.
Those with long puts could have already successfully taken profit, as it could find support at the bottom of the highlighted (maroon) target range.
Those with puts should be plenty green, but there likely will be some support near the bottom of the target range due to the long-term potential of the industry and CGC itself.
-BDR
CGC- Longing for the next sub-5th wave. CGC upside is not over despite an island top reversal. We are aiming to long at the daily demand before we miss another chance. High reward low risk.
Canopy Growth LONGLet's go higher after the drop. It seems like a good opportunity to enter for LONG HOLDERS.
ENTRY LEVELS LONG:
$48.77
$44.30
$34.87 STRONG BUY
CGC Starting a count here.Broke out from a large base, should still have some juice in it. Target around $75.
ยฟThe bottom of the correction?Apparently CGC wants to look for support in a zone around 0.67 Fibonacci, but is this support reliable?
Looking at the indicators, an entry at this time would be premature and therefore risky.
We will wait for the Elephant pattern to fully develop, entering one of the two situations shown on the indicator.
Better to also have the support of Zenith and Change Index, observe your situation in the best moments of purchase
Governments around the world will soon officially "sell" weeds notes from BOA Global Research before its earning on 02/09:
" FY21 has been a transition year as it resets its strategic focus, rolls out a new organizational design and implements operational and supply chains productivity prgms. We look for a progress update on its reset, COVIDโs impact on its business, strong growth in the value segment, along with a review of its cannabis 2.0 pipeline and thoughts on US legalization. On Nov 20, mgmt indicated its plan to provide medium-term targets in 3Q21 results in February."
