CGC Weekly Analysis

6 May 2019

CGC has formed a failed bull breakout and small final flag reversal (failed breakout of tight trading range). It also tested the middle of the tight trading range from the previous all time high which was a target. However this is the first reversal attempt since the January rally and the selling pressure wasnt that strong. The bears need strong follow through in order to convince the market the reversal is in. If the market ignores the sell setup and instead prices continue to rally, the bulls will likely get a new all time high, or a test of the previous high.