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Canopy Growth Corporation ($CGC): The Good, The Bad, The Ugly (2019-11-01)

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Date: 2019-10-31 19:05:51

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2019-11-01 (URGENCE NEWS) | Welcome! Today I did some analysis on Canopy Growth Corporation based on how it has behaved over the past few trading sessions. First of all, please note that this is technical analysis only (ie. analyzing how CGC is trading, not digging into the company fundamentals), and therefore you should not rely only on this to guide you on whether you should buy or sell CGC – take it with a grain of salt only, and pay attention to the disclaimer below. With that said, many traders find value in technical analysis and others even swear by it, so if that is you, I hope my analysis will be of use to you. Let’s get to it…

First things first: during its last day of trading, CGC opened at 20.05, got to a maximum price of 20.09 and dropped to as low as 19.42 before finishing the session at 19.96. In total there were 3768569 shares traded, which is enough to conduct our analysis.

VOLUME ANALYSIS: Generally, the higher the volume indicators are, the better – you need liquidity to trade, after all. All of the volume indicators are as follows… (click here for an explanation on volume)

  • accumulation-distribution index: 721.5
  • on-balance volume: 20.16
  • chaikin money flow: 32.5
  • force index: 0.6893
  • ease of movement rating: -0.01125
  • volume-price trend: -6.47678
  • negative volume index: 1000.0

VOLATILITY INDICATORS: These are what tell you how much the stock has really been moving around. We have calculated all of them (click here for an explanation on volatility)

  • average true range: 1.124
  • bolinger bands: 20.62595
  • upper bolinger band: 18.84405
  • lower bolinger band: 19.42
  • bolinger high band indicator: 1.0
  • bolinger low band indicator: nan
  • central keltner channel: 19.85333
  • high band keltner channel: 19.81333
  • low band keltner channel: 19.89333
  • high band keltner channel indicator: 1.0
  • low band keltner channel indicator: 1.0
  • donchian channel high band: 19.42
  • donchian channel low band: 19.42
  • donchian channel high band indicator: 1.0
  • donchian channel low band indicator: 1.0

Now for the most important indicator of all, the trend. Is the stock bullish or bearish? Is it going up or down? Various trend indicators can give us a good indication… (click here for an explanation on trend)

  • Moving Average Convergence Divergence (MACD): 0.01413
  • MACD Signal: 0.00785
  • MACD Difference: 0.00628
  • Fast Exponential Moving Average (EMA) indicator: 19.42
  • Slow Exponential Moving Average (EMA) indicator: 19.42
  • Average Directional Movement Index (ADX): unknown
  • ADX positive: 20.0
  • ADX negative: 20.0
  • Positive Vortex Indicator (VI): 1.0
  • Negative Vorted Indicator: 1.0
  • Trend vortex difference: 0.2562
  • Trix: -23.27445
  • Mass Index (MI): 1.0
  • Commodity Channel Index (CCI): 66.66667
  • Detrended Price Oscillator (DPO): 9.73461
  • KST Oscillator: -333.89617
  • KST Signal: -333.89617
  • KST Difference: 5.40223
  • Ichimoku rating: 20.07
  • Ichimoku B rating: 20.07
  • Ichimoku visual trend A: 28.60968
  • Ichimoku visual trend B: 26.07251
  • Aroon Indicator (AI) up: 4.0
  • Aroon Indicator down: 4.0
  • Difference: 4.0

Now for momentum. Relative strength is what you want to pay attention to here (click here for an explanation on momentum)

  • Relative Strength Index (RSI): 50.0
  • Money Flow Index (MFI): 51.0301
  • True Strength Index (TSI): -100.0
  • Ultimate oscillator: -7.39138
  • Stochastic oscillator: 1675.0
  • Stochastic oscillator signal: 1675.0
  • Williams %R rating: 1575.0
  • Awesome oscillator: 0.26008

And for the final and simplest part: the return. No complicated calculations needed here!

  • Daily return: -33.38962
  • Daily log return: 3.19257
  • Cumulative return return: 3.24408

THE VERDICT: For today (2019-11-01), our analysis of technical indicators for Canopy Growth Corporation ($CGC) indicates the following (thanks to Trading View for the widget):

The verdict above will consider all these technical indicators and consider which are strong and weak, and then put them all together to come up with a conclusion stating whether CGC is strong or weak. Again – this is not a reliable indication of whether Canopy Growth Corporation is a good investment! None of these indicators consider the company fundamentals. All of this data is based on how it trades only.

What tools do we think are useful for CGC investors? We have identified a handful of great services and software products that we feel comfortable recommending. The first (and main) thing you should take a look at is the Beat The Market Analyzer software, but we also recommend 3 other products. These are Dividend Stocks (an excellent resource to find stocks that may pay far better than CGC), Microcap Millionaires (the best site online for profiting off micro-cap stocks) and Trading Code (an extremely powerful system for profiting off trading). These recommendations are valid for CGC investors as of 2019-11-01.

DISCLAIMER: We are not registered investment advisers and the above analysis should be taken at face value only. We strongly advise against buying or selling Canopy Growth Corporation ($CGC) based solely on our analysis above, and are not responsible for any losses that you may incur if you choose make any investment decisions based on the above.

Júlio P Silva

Olá! I'm a proud Brazilian living in Sao Paulo who begun Urgence News with the intention of reporting on what's happening in Brazil in clear and concise English. Please do not hesitate to reach out if you have feedback or would like to know anything about Urgence News.

Mailing address: Rua do Cisne 1059, Campo Limpo Paulista, São Paulo 13234-432
Phone number: (11) 3953-7297
Email: julio@urgence.tv

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