Shares of Canopy Growth (CGC) fell sharply today after the company announced weak earnings and guidance. The marijuana company fell over 15% on the day and is currently trading near $15.50, down from $53/share earlier this year. This massive collapse actually gives investors an opportunity to accumulate Canopy Growth.
There is a HUGE technical level on the chart at $15.00. It is the high pivot from 2016 and likely where the stock is headed before it bounces sharply. This is a classic swing trade technical level. Look for a move back to $20 in the near-term.
Comments
Log in or sign up to join the conversation.