Canopy Growth Corporation (cgc) New Hemp Licence In New York City

Discussion in 'Investment Charts' started by Chartman, Jan 15, 2019.

  1. gowiththeflow

    gowiththeflow Senior Investor

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    I am looking at this sector and the potential for the future. As ever there will be winners and losers. Is it worth hedging your bets by spreading your sector investment across the 3 main palyers?
     
  2. fireopal

    fireopal Senior Investor

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  3. longtermbull

    longtermbull Administrator Staff Member

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    Hi @fireopal

    If you had to put your chips on one of the weed companies, who would it be and why?
     
  4. fireopal

    fireopal Senior Investor

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    Hi back @longtermbull :) This one. Reasons >> growth + expansion + capital etc
     
  5. Chartman

    Chartman Senior Investor

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    There must surely be a degree of consolidation going forward or the big pharmas get involved and take some of the big "weed" players out? They would have to pay some decent premiums :)
     
  6. longtermbull

    longtermbull Administrator Staff Member

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    I am tempted to let these shares deflate a little before diving in - they have been hyped up on good reason but profit takers will come in soon to bank some profits. Then it is probably time to buy :)
     
  7. gowiththeflow

    gowiththeflow Senior Investor

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    The shares have dipped a little and are hovering just above the moving average line - I cant see them falling back much further with all of the positive sentiment around.
     
  8. longtermbull

    longtermbull Administrator Staff Member

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    We seem to have had that little dip and the shares look likely to challenge upper ground if they can break clear of the trend line shown on the graph. Funny how trend lines can turn out to be self-fulfilling prophecies :)
     
  9. Chartman

    Chartman Senior Investor

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    I was going to highlight a potential double top on this chart but personally I just cant see any serious downside in the short term. Bouts of profit taking, yes, but no major downturn.
     
  10. gowiththeflow

    gowiththeflow Senior Investor

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    Keep a close eye on this one as when it turns I think it will turn quickly. This sector story is just starting to unfold - a long long way to go.
     
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