Canopy Rivers Inc - Technical Analysis

3 oct. 2018

Dear traders,

Here is my TA for Canopy Rivers Inc,

We find ourselves in a downtrend channel from which we need to brake out in order to change the mood.
With the MACD Continuing Divergence, which is a Bullish sign, we now need to see higher lows and lower lows in order to breakout from this channel.

What is you're opinion on this stock ?

3 oct. 2018

Note

Canopy Rivers just created a Bull Flag.
Let's see how this plays off.

3 oct. 2018

Note

Canopy Rivers price action is following my TA for now. If we zoom in we can see that our green dotted line has worked as a support line like I hoped it would be. If we create an ascending channel now, we might see a breakout soon, if we don't get sent back down by the resistance line.

4 oct. 2018

Note

I am waiting for more volume to come to play before going long.

4 oct. 2018

Note

Vol didn't come, the stock price went down.

5 oct. 2018

Note

RIV created a new lower low. We are still in a bearish channel.

12 oct. 2018

Note

RIV is following out bearish triangle very well, in fact we might get a breakout soon. Keep an eye open!

12 oct. 2018

Note

In fact, as we zoom in we see that the bulls failed breaking out on multiples occasions.. To be safe I would enter a position now with a stoploss just under the 55ema, to make sure to still get some profit, but you won't get raped if this is a failed breakout again.

12 oct. 2018

Note