CGC Stock Jumped 7.68% Yesterday Nov 6, 2018, Why?
Updated
What is the News Catalyst that is Causing Canopy Growth Corp Stock (CGC) to Move up the Charts So Rapidly?
The catalytic news that could’ve catapulted Canopy Growth (NYSE: CGC) stock has finally come and has catapulted the stock to a whopping 7.68% gain today November 6, 2018 1:34pm, ET.
As a result of this catalytic news CGC looks like it is heading toward 55.91 and possibly higher (55.71, 56.56, and 57.41 are possible targets) before a reversal becomes inevitable. In fact, $71.90 per share is the next target that is possible if the stock continues its hyperbolic move up the charts.
This price target however, may take a little longer to achieve simply because CGC holders like to take profits when the time is right. So, there could be a profit-taking time that presents itself way before the $71.90 per share price point is reached. In fact, there are a few price points that could appear above the $57.41 price level. They are $69.35, $70.02, and $71.05. In fact, those prices are not at all arbitrary, they have some credence behind them. Our trading strategy has a very high level of reliability.
There could be many price levels above our original support zone of $36.71. Therefore, we would buy the stock if it gets to $36.71 and sell it when it gets to our hypothesized support zone of 44.88 or anywhere close. In past analysis, we have noted that point.
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Disclaimer: (c) Mstardom, Inc., Mstardom Finance does not provide investment advice.
The catalytic news that could’ve catapulted Canopy Growth (NYSE: CGC) stock has finally come and has catapulted the stock to a whopping 7.68% gain today November 6, 2018 1:34pm, ET.
As a result of this catalytic news CGC looks like it is heading toward 55.91 and possibly higher (55.71, 56.56, and 57.41 are possible targets) before a reversal becomes inevitable. In fact, $71.90 per share is the next target that is possible if the stock continues its hyperbolic move up the charts.
This price target however, may take a little longer to achieve simply because CGC holders like to take profits when the time is right. So, there could be a profit-taking time that presents itself way before the $71.90 per share price point is reached. In fact, there are a few price points that could appear above the $57.41 price level. They are $69.35, $70.02, and $71.05. In fact, those prices are not at all arbitrary, they have some credence behind them. Our trading strategy has a very high level of reliability.
There could be many price levels above our original support zone of $36.71. Therefore, we would buy the stock if it gets to $36.71 and sell it when it gets to our hypothesized support zone of 44.88 or anywhere close. In past analysis, we have noted that point.
Click here to see the entire article.
Disclaimer: (c) Mstardom, Inc., Mstardom Finance does not provide investment advice.
Trade active
I hope we have begun to take profit at our take profit price range of 44.88 at our hypothetical resistance area. Remember that we buy at our hypothetical support area of $36.71 and sell at or near our hypothetical resistance area of 44.88. (Note the mis-typed hypothesized support zone above. It was supposed to be written as hypothesized resistance zone, not hypothesized support zone. Sorry about that). So, we should be in the money now. Remember that traders who are greedy loses trades 95% of the time. Don't let the stock pullback and dissolve your profits. Take your profit now. Don't wait for the price to arrive exactly at 44.88 before taking profits.here is the actual url that should have been placed above: mstardom.com/2018/11/07/the-news-catalyst-responsible-for-canopy-growth-cgc-stocks-sudden-rise-again/
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