WEED, Canopy Growth Corp.

weed may 31 2018

The stuff is still illegal in the US, at least on the federal level. Consequently they are coming North to do their IPOs. Here is a Canadian one that has been in business for a while. A first impression from the chart is that, here too, there might be a triangle which would suggest a new high. Another possibility is that the top has been in for some time and we have already completed an initial A down and a B retracement to about $40. If correct there is a rather dramatic drop straight ahead. Maybe you do not want to stick around to find out which of the two is correct.