CANOPY GROWTH CORP (CGC) Stock Technical Analysis
USA - NASDAQ:CGC - CA1380357048 - Common Stock
1.53 USD
+0.08 (+5.52%)
1.51 USD
-0.02 (-1.31%)
Overall CGC gets a technical rating of 5 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. CGC was also a bad performer in the overall market in the last year.
85% of all other stocks performed better in the past year than CGC.
CGC is part of the Pharmaceuticals industry. There are 196 other stocks in this industry, of which 65% are performing better 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.
CGC has an average volume of 25209900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
In the last month CGC has a been trading in the 1.29 - 1.63 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is only medium, CGC does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 1.42, 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. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
1.12
1.95
5 important support areas can be observed.
- A support zone ranging from 1.37 to 1.42. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.34 from a horizontal line in the weekly time frame.
- Support @1.31 from a horizontal line in the daily time frame.
- Support @1.15 from a trend line in the daily time frame.
- Support @1.13 from a trend line in the weekly time frame.
When analyzing the resistance we notice 3 important areas.
- Resistance @1.58 from a horizontal line in the daily time frame.
- Resistance @1.70 from a trend line in the daily time frame.
- Resistance @1.93 from a horizontal line 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 | UP | POSITIVE | The short term trend for CGC is up. |
| ChartMill Relative Strength | 15.63 | NEGATIVE | CGC has a low relative strength, it was outperformed by 84.37% 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) | UP | POSITIVE | The current price of CGC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of CGC is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.23 | NEUTRAL | The RSI value for CGC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests CGC has a positive trend. |
| Stochastics (14,3) | 49 | NEUTRAL | The Stochastics value for CGC is a neutral value. |
| Average True Range in percent/ATR (20) | 7.14 | HIGH VOLATILITY | The high ATR as a percentage value for CGC suggests high volalility. |
| Average Directional Index/ADX (14) | 17.81 | 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)
1.53
+0.08 (+5.52%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg5.52%
1 Week10.87%
2 Weeks7.75%
1 Month10.07%
3 Month35.4%
6 Month62.77%
12 Month-62.13%
2 Year-72.93%
3 Year-95.9%
5 Year-99.19%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.11
ATR(20)%7.14%
ATR Inc5.67%
Range Today0.11
ADR(20)0.1
ADR(20)%6.54%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS15.63
Mansfield-3.16
10 Day High1.63
10 Day Low1.32
20 Day High1.63
20 Day Low1.29
52 Week High5.8
52 Week Low0.77
CS1 End1.42
CR1 Start1.58
Volume & EV
DER(3)5.2%
DER(5)0.49%
Volume22.67M
Volume Incr11.62%
Vol(5)25.48M
Vol(50)25.21M