Canopy Growth Corp (WEED)

[Steponit]

I think some of this charting stuff is just a self-fulfilling prophecy. Certain people believe the charts so much that they make all of their buying/selling decisions based on what they think charting is telling them. A company could come out with a fantastic Q or some other huge news that changes the whole ball game, but if the charters all believe the charts so much, then they might just sit on the sidelines and not buy and wait, expecting the price falls to some certain support level, which it may never fall to if the news is good enough. It might work in the short term. But in the long term it ignores a lot of real world news, big events, and even what the rest of the stock market overall is doing. If enough people all go to the same school of charting, the market starts moving sometimes too much by what those religion of chart reading tells them, and ignores everything else. I look at charts, but there are so many other things to consider besides what the charts are doing. It's just one of many tools.

If legalization comes a month early, surprising everyone, this could skyrocket and jump up 50% or 100% in one day for all we know. And if that happens everything the charters who were so locked into their narrow minded charting stuff will probably miss the boat, and the longs will be jumping for joy.