Canopy going forward

13 Oca 2018

It appears we had a top at around 44 dollars so using what we saw last time in Nov 2017 and that we had three day drops already(which usually means a short buying reversal), there should be a quick bounce from here. The bounce I project(again probability using historical and fib math, I am not a fortune-teller) that it may go back to the 38.2 level then reverse at around either 27 or 23 level. After that may see a consolidation at 30 waiting for more news from the government. Now, if there is bad, it may drop more from here(25-27) then reverse, I will have to update next Friday more if that happens. They said legalization is July but now saying it is some time this summer, so who knows. The markets will play around with the news from here. Disclosure: I do not hold the stock now but have puts waiting for a brief drop for a quick profit.