It's possible the bottom is in for CGC, although I'm not certain. It still "feels" a bit shallow to me, but there's no denying we have a nice little rally. I wish the volume was more pronounced, so it makes me hesitant to say the "bottoms in".
I do think it's a buy at 27 or under as the daily momentum should push it to the trendline at 31 within a few weeks (also this is at the .382 fib and the gap fill area).
However, if the general market starts to sell off, the MJ stocks will definately be dumped and I can see this going to the support at the 17 area.
Please use appropriate stops!
Good luck and trade safe!
I do think it's a buy at 27 or under as the daily momentum should push it to the trendline at 31 within a few weeks (also this is at the .382 fib and the gap fill area).
However, if the general market starts to sell off, the MJ stocks will definately be dumped and I can see this going to the support at the 17 area.
Please use appropriate stops!
Good luck and trade safe!