cannukville
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Canopy Growth in TSX short term outlook

TSX:WEED   CANOPY GROWTH CORPORATION
Comparing to the drop in Nov 2017, it looks like a drop is due pretty soon. The slope(rise over run) of the Nov 2017 parabolic rise then drop was around 191 and the situation we are in now is at 206. This means a correction is overdue soon. If it corrects from here, Fib shows with the historical chart confirming a typical two drop sequence. This means if there is a drop tomorrow, 38% should be at 27.2 and then follow by another drop to 21.8 with a rebound to 28.8 and back down for the calm to ready another round of buyers.
Hello. I found your theory extremely interesting (in a good way and not a sarcastic way). Would you be able to break it down for me in more detail how can you get your levels. I think I could learn a lot for this technical analysis. Thanks for your help and time. You can email me at attilaelek@icloud.com as well
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cannukville Attilaelek
@Attilaelek, I will reply here to benefit everyone. I think you understand the slope part so unless you tell me you do not in the subsequent reply then I will explain it. As for the levels, that is the Fibonacci Sequence. Most things in nature seem to follow this type of sequence and it is related to the Golden Ratio especially in random behaviors where there are many participants such as the stock market. This video is a good starter to understand where the sequence comes from https://www.youtube.com/watch?v=4VrcO6JaMrM Then watch this video to find out how to Fibonacci Retracements are derived from the Fibonacci Sequence. Again, the premise is that random behavior and many participants so we have seen in nature that it follows this pattern. Of course, there will be cases it will not and so you have to use your best judgment. In this case, I did used it because it seem previous historical prices followed it, so the assumption is it must follow it later as well. Again, nothing is absolute, so you have to use your best judgment; however, it seems at least more than 50% sure that it will be in that given vicinity. If say, in this stock, it goes higher than 35.9 mark then we can do the Fib Retracement again from when it drops to find out where it MAY land. In conclusion, we use it because we observe the universe seems to follow it to some degree in random behaviors where each participants do not communicate with each other and two, it is better than guessing. It is a tool and you should use it as a reference to make some educated guesses. Hope this helps. If not, feel free to keep replying to this thread and I can explain further.
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cannukville cannukville
@Attilaelek Forgot to include the second video. Here it is https://www.youtube.com/watch?v=BGmPEcM6v48
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Attilaelek cannukville
@cannukville, Thank you so much Cannukville. Wow what a call !!! Do you think further consolidation is on the way? Or should we see a quick bounce tomorrow because of the very close legalization date ?
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cannukville Attilaelek
@Attilaelek, really hard to say at this point. My analysis is still the same today. No one knows when they will legalize. Actually the media calls it legalization but it isn’t a blank cheque legal for all; there are some restrictions. Any ways, the point is, the government now said July 2018 before and now some time this summer. https://www.thestar.com/news/canada/2017/12/19/date-for-legalized-pot-is-next-summer-not-july-1-trudeau-says.html So it is pourly speculators and technicals now
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@Attilaelek, legalization is not for 5-6 more months, WEED is way ahead of it self. Think of the current price as what it should in July 2017. The market cap for WEED is at $8 Billion, which is the same as Chipotle Mexican Grill a company with a $4 billion in sales. The total revenue estimated for all marijuana sales in Canada for 2018 is estimated at $500 million, with Canopy's market share at 20% of $500M is $100 million in revenue before taxes. The Canadian market is not the same as USA with 380 million people.
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Attilaelek truthreveller
@truthreveller, I totally agree with you. All the big three + MJN are way over priced. I throw my hands up basically and I just sit until a consolidation. Hopefully today is the start. I think at this point its all hype and Euphoria
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jerky_rs Attilaelek
@Attilaelek, i originally bought it at 6.90 and sold just under 20 thinking it topped out.. once it hit 30 i was sure it was gonna drop, then it 40 a few days later. Surely now it will correct, maybe 25? In terms of Market cap there are crypto currencies out there there with billions and no product what so ever other then a copy of someone else's code and an idea, at least with WEED there is a big market (Canada and abroad in years to come with or without the US)
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