MomentumAnother day in crazy town...havin' fun yet? Another 9/plus million volume day.
Unless some really bad news hits in near-term, WEED can continue to climb on anticipation alone.
Could be weeks before US signals confirmation on SAFER & rescheduling changes.
Based on the 14 day RSI chart, Canopy is 77.4 overbought at $12....momentum could still push it much higher....I'm beginning to wonder if we'll see an eventual return to the 52 week high of $26.00 ($2.60/CAD pre- reverse split).
Resistance points are $12.94 and $14.71/CAD.
These were the options/calls according to BARCHART:
Notably, the sold call with the highest volume level (not including options that expired on Friday) was the Apr 19 ’24 8.00 Call, which featured volume of 5,788 contracts against open interest of 2,976. This $8 ($10.86/CAD) strike price is significant because according to Barchart’s
Trader's Sheet for Canopy, major resistance begins at $8.49 ($11.52/CAD) and runs to $12.23 ($16.60/CAD).