CANOPY GROWTH CORP (CGC) Stock Technical Analysis
NASDAQ:CGC - Nasdaq - CA1380357048 - Common Stock - Currency: USD
We assign a technical rating of 0 out of 10 to CGC. CGC's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
When comparing the yearly performance of all stocks, CGC is a bad performer in the overall market: 98% of all stocks are doing better.
CGC is part of the Pharmaceuticals industry. There are 194 other stocks in this industry, of which 83% are performing better than CGC.
CGC is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so CGC is lagging the market.
In the last month CGC has a been trading in the 1.01 - 1.33 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
CGC has an average volume of 9500870 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although the technical rating is bad, CGC does present a nice setup opportunity. Prices have been consolidating lately. 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
1.00
1.12
When analyzing the support we can see 2 important areas.
- Support @1.03 from a trend line in the daily time frame.
- Support @1.01 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 1.05 to 1.06. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 1.10 to 1.11. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
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 | DOWN | NEGATIVE | The short term trend for CGC is down. |
| ChartMill Relative Strength | 2.84 | NEGATIVE | CGC has a low relative strength, it was outperformed by 97.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CGC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of CGC is below 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) | 41.63 | NEUTRAL | The RSI value for CGC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests CGC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 12.82 | OVERSOLD | The low Stochastics value suggests CGC may be oversold. |
| Average True Range in percent/ATR (20) | 7.44 | HIGH VOLATILITY | The high ATR as a percentage value for CGC suggests high volalility. |
| Average Directional Index/ADX (14) | 12.18 | NEGATIVE | The low ADX value for CGC suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
1.05
+0.02 (+1.94%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg1.94%
1 Week-7.89%
2 Weeks-3.67%
1 Month-17.97%
3 Month-21.05%
6 Month-47.24%
12 Month-84.02%
2 Year-81.65%
3 Year-97.15%
5 Year-99.36%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.08
ATR(20)%7.44%
ATR Inc26.33%
Range Today0.11
ADR(20)0.08
ADR(20)%7.36%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS2.84
Mansfield-6.4
10 Day High1.27
10 Day Low1.01
20 Day High1.33
20 Day Low1.01
52 Week High7.21
52 Week Low0.77
CS1 End1.03
CR1 Start1.05
Volume & EV
DER(3)3.1%
DER(5)0.91%
Volume7.00M
Volume Incr-31.32%
Vol(5)6.97M
Vol(50)9.50M