Technicals - BullishAll traditional technical indicators for Canopy are trending bullish. Need some real booster. What can that be? CEO announcment? Actual products release or something else? Definitely it needs a trigger that will help price going up more than a session or two.
Lately, it goes up on news for a session or two and then comes right back, which is not good.
It feels like Canopy particularly, is possessed by day-traders, why wouldn't be? Every trading day, it goes up and down almost by a dollar on a sequential basis, the day-traders particularly, pros can make a huge money using this trend. Institutional traders incl. big banks are the culprit doing all these trading using their brokerage as a tool. In canada, we have only a few big banks that have brokerage and it's easy for them to control and manipulate the market. Apparently, they control a lot of big orders without touching the actual exchange in their advantage.
One thing we know for sure, once a stock performs well, no one can stop it. Now that things are not going well, everyone is trying to take advantage of particularly, of retails like us.
Hope Canopy announces its CEO sooner and that is someone special, they better not disappoint. Rumour is that Nike CEO or even STZ CEO Rob could be the one. Whatever it is, let's just get over it. Recently, Bruce said that market does not like uncertainty and they don't like to see absence of a regular CEO either.
Pre-market is same RED, it's like a never ending RED.