The Hourly View for CGC
At the moment, CGC (Get Ratings)’s price is up $0.28 (1.4%) from the hour prior. This is the 2nd hour in a row CGC has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 20 hour moving averages have been crossed, with price now being above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Out of Pharmaceutical Products stocks, CGC ranks 36th in regards to today’s price percentage change.
CGC’s Technical Outlook on the Daily Chart
At the moment, CGC’s price is up $0.23 (1.17%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Canopy Growth Corp’s price action over the past 90 days can be seen via the chart below.
CGC: Daily RSI Analysis
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