Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
We actually have hung in there pretty well to stay above the retracement levels. Todays early action puts both of the following in play:
.618% retracement now sits at $31.36.
.75% retracement is @ $25.40.
Ultimately, retracement theory works.
Lets stay above & close above $31.36
Closing above the .618% retracement is critical,currently today @ 30.42.
This target will begin to creep up as the 52 week low increases.
If we have several closes below this level, the next level to watch will be
the .75% retracement, which currently sits at 24.26, which is a long way down from here.
Technically, $30.42 is huge.
Lets hold it.
Shrubs
If we cant hold 200 day, Per Fibonacci retracement theory , we are in the alert zone. A bullish reversal likely at $30.42.
My two cents!
Shrubs
Not a big post guy but I watch everyday. As institutions rushed in after the STZ deal, the characteristics of price movement began taking on more resemblance of traditional movement. Retracement theory of (.618) equals $30.42, which is lower than the 200 day and about another 10% from here
If you are long term, you can buy anywhere in here and just hold it.
Approx $12 in cash per share is strategizing the most optimum way to be deployed to rock the sector.
Good luck longs.
Shrubs
Nothing has changed with the big picture story for Canopy.
Constellation proceeds waiting to be deployed.
Closing price today brings us back to stock price of late December 2017.
Except we now have the clarity of having the Constellation proceeds in the bank and the buy the rumor sell the news of the Canadian legalization behind us. If you liked it then , you should love it now!
Where do we go from here?
We will test and hold the 200 day and then build to a double from here by year end.
Shrubs
Retracement theory says 29.42.
Tomorrow test 200 day(31.32) and we will hold that line.
Hang in there
Agreed. It also gives the company more shares available for mergers and acquisitions.
I watch this stock everyday but rarely post. The stock has been trading sideways for the last 6 months as the sector evolves and bigger players take positions. We are growing the brand, acquiring grow space, securing agreements, expanding across the globe. No longer are we at the mercy of bad debt deals or the need to sell big chunks of the company at fire sale prices. I hope the company resists the courting from big pharma, big tobacco, & the spirit sector for as long as possible.
The public acceptance continues and is now a majority here in the US.
NYSE listing increases credibility and accessibility along with the coming Canadian recreational sales gives Canopy a momentum that no one else enjoys.
Infused beverages, edibles and increasing acceptance for opioid substitution will carry this company further than most realize.
Everybody should be voting to affirm the authorization on the stock split.
Hopefully it will be 3:1. It will enhance accessibility to smaller investors. Abundance of sideline cash from the institutions is waiting to be deployed.
50 day moving average will support the stock this week.
The big picture has not changed but has become clearer.
Congrats to all of the long term investors.Lets get the 3:1 split done
and maybe we get to 15 by the time of the first Canadian rec sales.
Shrubs
61.8 % retracement theory comes in at 16.73436.
We saw 16.74 for the low yesterday.
Bounced off it, just like its supposed to.
We will bounce higher off of the 50 day MA.
Likely.
Spoken from one of the finest connoisseur's in the land!!
No possibility of Sessions/Trump changing the laws or outlook for medical marijuana or recreational in the states that have it approved. Zero chance.
The individual states are enjoying receiving the extra revenue go in to their coffers.
This is just another hit piece to try to shake away your shares.
Many more to follow.
Hold tightly.
6.20
I like where this is currently trading. Shaking some loose hands out and providing a reasonable buy entry for those new and those building.
We will see a bounce off the 200 day MA but it needs to close above it and stay above it. The 200 day will continue to go higher. Defend it.
The alternative creates a chart that could further deteriorate this price.
Not much support below the 200 day. Hold the line!
Last day of the month. Overall, Canadian lumber & dairy markets barraged by Trump comments the last 10 days and investors might be getting out of that new ETF already and waiting for a better climate. Canadian housing bubble getting closer to bursting. Home Capital Group, Canada's largest "non-bank" lender needed emergency bailout line of credit this week. Renegotiating NAFTA. While not directly related to Canopy, all those things created uncertainty, which affected the stock price.
The Mettrum legal exposure will prove to be overblown. Internal control procedures have been implemented to ensure no repeats.
We have support at the 200 day moving average and technical analysis suggests that we will have a healthy bounce off of that once kissed.( I used 10.25 as the hi, not the bullshit 14.39 they are showing as the hi). Not a bad time to keep building your position.
Also, remember that the share shakers are going to be trying to steal your shares at these levels. Be vigilant.
Good luck to all
Accumulation day.