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"TILRAY looks OK now.
Same cannot be said for CGC."
CGC looking better this morning.
You could be waiting for a while. Until then Canopy rebounds 10 cents. You know earnings will probably be bad again. But the bad stock price is baked in.
Canopy green pre-market $0.0306
I feel compelled to make clear my observations and projections.
#1. My main focus is on the stock price action. I am aware of company financials, viability, executive team, etc., but my main focus is the direction of the stock price movement.
#2. I have fun with my investments as well as take an interest in making money on my investment. I enjoy making price projections, "bottom calls", etc. All of these are "in my opinion", of course. I am not a licensed investment manager.
#3. I stepped away from the Cannabis sector for over a year. When I stepped back in, I observed what was a possible "bottom" in the Cannabis sector. Stocks were terribly beaten up and washed up. Recently I believe that with Tilray and Canopy finding support, this will also mark a psychological bottom.
#4. I hold small positions in approximately 10 names including the ETF MSOS. I called the sector bottom on May 20th, 2023. Since then my positions have traded sideways with the exception of the 2 names previously mentioned. Tilray has found support and Canopy will also within a few days if not sooner.
#5. I hope that you all are enjoying this market activity and your participation with IHUB as much as I am.
#6. Again, this is "in my opinion" only and partially for entertainment purposes.
I like AYR here.
If Canopy finishes green today, watch out!
TILRAY looks OK now.
Same cannot be said for CGC.
$0.65 within range. That is where I add.
There is an army waiting to buy at $0.50
$3.02
+0.015(+0.50%)
Plenty of bad news to go around.
Nice bounce off high 3's. We need to confirm this support at $4.00
"SAFE act is next up in congress. Good for a nice pop in share price."
That is putting it mildly. This would be HUGE for the sector.
Somewhere between U.S. $0.77 and $0.50 Canopy will find support. Simple now if you want to bottom feed. Average in. 0.77 0.75 0.65 0.60 0.55 and finally 0.50
My guess is we might find support at 0.65
After we turn the cone and Canopy finds 0.75$ again, I would be more aggressive.
IMO
Canopy removed from S%P/TSX.
Keep an eye on falling Canopy.
CGC 3 days in a row and you may have found support. With this ticker, not as easy as it sounds.
Trulieve bouncing nicely.
Just entered AYR for the first time.
Need to bottom ...
Canopy
Tilray
PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
At some point, the Cannabis sector will be bone dry and washed out. We may be there now. I have fun "picking the bottom" as I did for fun ... May 20th, 2023. But my actual investing is with a few dollars and averaging in.
Still looking for support.
I use their charts.
How many days in the 3's? I am guessing 3.
American Operator Cannibus Index chart.
chart
The Trulieve news, divestiture, and downsizing, are actually good news and show the company is nimble and concerned about maintaining profitability. I like the CEO. Trulieve is a bellwether company in the Cannabis space. Grabbing shares sub $4.00 is a gift. As for my investment strategy, I own shares but very few. It is almost like I am running a model portfolio. If the sector starts to run, I'll get more aggressive.
Well said. I believe Trulieve is still a bellwether company versus Aurora who never really gained any traction. Looking for 3 green days in a row.
Looks good for a new entry.
Good to see you again.
Put in a nice bottom recently.
Nothing wrong with averaging in. 20% at a time. We should see support by Wednesday afternoon, if not sooner.
Higher or sideways is OK.
Next stop 3 bucks.
This is a "buy."
Need to find support!