/biz/ - Business & Finance

TA for the Canopy Growth (canadian chart). Sector almost always tags along with papa Canopy Growth's during high volatility whole sector swings. The HMMJ ETF chart shows the correlation.

Anyway. since Canopy is the heavy, I figured to take a look at the goings on here and when to expect a bounce and so on.

>purple lines were key supports
>sliced clean through the first two and tipped a wick in to the third today. All three today. for fucks sake.
> Constellation Brands did their 5 billy investment around 48/49 as I recall, that is right about the current 100 day SMA. That price of 48.72 is likely low support on this drop.
>chart has never dropped to 100 day SMA in one consecutive slide off a defined peak without a fat green candle bounce in to lower high in to dump
>RSI is 40
>also there is a nasty bearish MACD on the weekly

I think fat green dead cat is coming tomorrow. Chart position is right where it should be to remain consistent with the previous two major dead cats. That will be followed by immediate dump the following day or a doji day followed by dump.