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Canopy Growth Corp T.WEED

Alternate Symbol(s):  T.WEED.DB | CGC

Canopy Growth Corporation is a cannabis company. It delivers innovative products with a focus on premium and mainstream cannabis brands, including Doja, 7ACRES, Tweed, and Deep Space, in addition to category-defining vaporizer technology made in Germany by Storz & Bickel. The principal activities of the Company are the production, distribution and sale of a diverse range of cannabis and cannabinoid-based products for both adult-use and medical purposes under a portfolio of distinct brands in Canada. Its Canada cannabis segment includes the production, distribution, and sale of a range of cannabis, hemp, and cannabis related products in Canada. International markets cannabis segment includes the production, distribution, and sale of a range of cannabis and hemp products internationally. Storz & Bickel segment includes the production, distribution, and sale of vaporizers. This Works segment includes the production, distribution and sale of beauty, skincare, wellness and sleep products.


TSX:WEED - Post by User

Post by MasterPeaceon Mar 27, 2024 2:25pm
145 Views
Post# 35956109

Momentum

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).

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