priestleyfam

Descending Triangle, but with Potential for Upside

priestleyfam מעודכן   
TSX:WEED   CANOPY GROWTH CORPORATION
3
I'm seeing a descending triangle formed since earnings mid-Feb. The triangle sees a failed backtest on 11-Apr, and a battle at long-term (and psychological) support of $9.50 CDN. I'm anticipating a possible fall to the previous psychological support of $9 CDN, but with earnings around the corner, there could be a breakout in anticipation.

I'm a long-term investor in WEED, but am exploring (read: newbie) TA for this and other stocks. Constructive comments are appreciated!
הערה:
Stochastic oscillator %K crossed %D on 18-Apr, so there may be a rebound coming. Pre-market bid/ask on 19-Apr is just below $10 CDN. I would not consider buying for short-term trading until it broke $10.20 (the descending triangle resistance).
הערה:
We're testing $10.20 which I believe is the current resistance. I'm watching the hourly charts for a confirmation of a break.

The volume appears to have reduced in line with the triangle, but am hesitant on a trade opportunity.
כתב ויתור

המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.