Puff, Puff, Pass or Crash? Canopy Growth's Fiery Forecast
The Cannabis Rally is Over! Or Is It?
Bulls in Canopy Growth haven't had much to laugh about lately after the initial fireworks at the start of the year fizzled out. The last daily bar showed a clear rejection, dampening hopes for a high-flying stock price. However, a look at the Fibonacci levels and the volume profile suggests a prime buying opportunity around $7.50. From there, we can set a relatively tight stop loss, speculating that Canopy Growth's stock price might light up and reach the highs from late April.
Bulls in Canopy Growth haven't had much to laugh about lately after the initial fireworks at the start of the year fizzled out. The last daily bar showed a clear rejection, dampening hopes for a high-flying stock price. However, a look at the Fibonacci levels and the volume profile suggests a prime buying opportunity around $7.50. From there, we can set a relatively tight stop loss, speculating that Canopy Growth's stock price might light up and reach the highs from late April.
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