Expecting bounce from extremely oversold weekly and daily levels in the cannabis market leader. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Trade fechado: stop atingido
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Closed trade after stop breached on a daily closing level.
I think "extremely oversold" could rather be interpreted as "underlying weakness". The fundamentals are crap right now, and still it is trading at a 13 billion dollar market cap. All I'm saying is, be careful.
jerryas
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@Barkworth, I do not care about fundamentals with this trade. CGC is still a market leader in terms of liquidity and cannabis narrative. This is my third trade in CGC from April 2018 and both trades were extremely profitable (+60% on position). If it breaks down, I will throw this trade and stock in a trash bin.