RE:Everyone might talk about the 200 day and 50 day moving avgcollinswhitner wrote: I am going to tell you all a secret. Its the 50 week moving average that has consistantly moved mountains in all my investment experiences. Its a little more broader than the 200 day moving average. It was confirmed this week on heavy volume.
The tide has turned for shareholders. Just remember the number of new funds and institutions and the wonderment of accumulation and changes of ownership this week. Just also remember 800 million shares had traded above 7$ with over 690 million shares traded over 8.
You cannot sidelined to not think those shareholders with average costs above 8 dollars a share and let alone the average costs for many shareholders were above 11$. Those that could afford to get more cash in could average costs down.
I have advised our base to average their costs down. The future looks exponential and parabolic.
In watching the 50 week moving average the stock closed above by 2c on heavy weekly volume. Traders can look forward to see the stock trade above the 50 and the 200 day moving averages.
I believe they will some resistance there but like i said earlier this week. This stock could go up 4 dollars in a day and even Chartmandan will be late to the party.
I have experience and say this. Fundamentals are so so important and include that in your theorums to deduce your next move in your investments.
Canopy growth is an exponential investment with predicted sales of 500 to 800 million dollars in 2018 going into 2019 800 million to 1.7 billion dollars in sales. Recreational is coming, no doubt about it. Canopy has to fill the vaults to become the largest cash cow on Week 1 of recreational so they take all those monies and double and then double production again and again quarter in quarter out.
It doesnt take a rocket scientist to figure it out but with help from my calculations Bruce has to be ahead of the pack to stay the leader and best of breed in the industry.
here is the chart ....the 50 week moving average....take a look
https://stockcharts.com/h-sc/ui?s=WEED.TO&p=W&b=5&g=0&id=p62180291247
The cannabis plants from seeds to a 9 foot plant takes 3 months.
Beautiful candle on the weekly chart this week.
Everyone and their Grandma talking about buying this stock in July in the $5's.....
So you know to load the gun in the $6's in June - because the muppets are always wrong.
Bottom is in, buy the dips in the sector.