CANOPY GROWTH CORP (CGC) Technical Analysis
NASDAQ:CGC • CA1380357048
Current stock price
CGC Technical Rating and Analysis
Overall CGC gets a technical rating of 2 out of 10. In the past year, CGC was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
- 80% of all other stocks performed better in the past year than CGC.
- CGC is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month CGC has a been trading in the 0.84 - 1.12 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- CGC has an average volume of 9145820 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- CGC is an average performer in the Pharmaceuticals industry, it outperforms 42% of 191 stocks in the same industry.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
CGC Weekly and Daily overview Charts
CGC Setup Rating and Analysis
Although the technical rating is bad, CGC does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 1.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.08, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CGC in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
CGC Support and Resistance Analysis
0.91
We found 2 important support areas.
- A support zone ranging from 1.06 to 1.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @0.92 from a horizontal line in the weekly time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 1.09 to 1.10. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1.68 from a trend line in the weekly time frame.
- Resistance @1.88 from a horizontal line in the daily time frame.
CGC Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for CGC is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CGC is up. |
| ChartMill Relative Strength | 20.34 | NEGATIVE | CGC has a low relative strength, it was outperformed by 79.66% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CGC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of CGC is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CGC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.44 | NEUTRAL | The RSI value for CGC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests CGC has a positive trend. |
| Stochastics (14,3) | 83.14 | OVERBOUGHT | The high Stochastics value suggests CGC may be overbought. |
| Average True Range in percent/ATR (20) | 6.28 | HIGH VOLATILITY | The high ATR as a percentage value for CGC suggests high volalility. |
| Average Directional Index/ADX (14) | 15.65 | NEGATIVE | The low ADX value for CGC suggests a weak or negative trend. |
CGC Chart- and CandleStick Pattern Analysis
CGC Technicals: Chart, Performance Metrics, Trend & Indicators
1.09
+0.01 (+0.93%)
CANOPY GROWTH CORP / CGC TA FAQ
Can you provide the ChartMill technical rating for CANOPY GROWTH CORP?
ChartMill assigns a technical rating of 2 / 10 to CGC.
What is the current trend direction of CANOPY GROWTH CORP (CGC) stock?
The current trend direction for CANOPY GROWTH CORP (CGC) is Bearish.
Can you provide the RSI signal for CANOPY GROWTH CORP?
CANOPY GROWTH CORP (CGC) has an RSI value of 57.4393. This indicates that the stock is currently neutral.
Can you provide the short term momentum for CANOPY GROWTH CORP?
The short term momentum for CANOPY GROWTH CORP (CGC) is positive.
Can you provide the buy/sell signal for CANOPY GROWTH CORP?
The buy/sell signal for CANOPY GROWTH CORP (CGC) is hold as the short term and long term trends are mixed.