Technical Analysis for WEED - Canopy Growth Corporation

Grade Last Price % Change Price Change
B 11.660 -9.96% -1.290
WEED closed down 9.96 percent on Thursday, March 28, 2024, on 4.49 times normal volume. The bulls were able to push the stock to a new 52-week high. Due to the stock's strong uptrend, it may remain overbought for a while. So, if you're looking for a reason to sell, don't put too much weight on it being overbought.
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Trend Table & Recent EOD Trading Signals

ADX Long Term Intermediate Term Short Term
Strong Up Up Up

Date Alert Name Type % Chg
Volume Surge Other 0.00%
New 52 Week High Strength 0.00%
Parabolic Rise Strength 0.00%
Upper Bollinger Band Walk Strength 0.00%
Wide Bands Range Expansion 0.00%
Overbought Stochastic Strength 0.00%
Upper Bollinger Band Touch Strength 0.00%
New 52 Week Closing High Bullish -9.96%
Pocket Pivot Bullish Swing Setup -9.96%
Volume Surge Other -9.96%

   Recent Intraday Alerts

Alert Time
Down 1 ATR about 21 hours ago
Up 5% about 23 hours ago
Up 3% about 24 hours ago
Up 2% about 24 hours ago
Up 1% about 24 hours ago

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Profile

Canopy Growth Corporation Description

Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a diversified cannabis company. The Company, through its subsidiaries Tweed Inc. (Tweed), Bedrocan Canada Inc. (Bedrocan) and Tweed Farms Inc. (Tweed Farms), is engaged in the business of producing and selling legal marijuana in the Canadian medical market. It is also focusing on producing and selling marijuana in the recreational market in Canada. Its core brands are Tweed and Bedrocan. Tweed is a licensed producer of medical marijuana. Tweed's commercial license covers approximately 168,000 square feet of its Smiths Falls facility and allows Tweed to produce and sell approximately 3,540 kilograms of medical marijuana per year. Tweed's built-out production capacity is over 10 climate controlled indoor growing rooms. Bedrocan is a medical-grade cannabis. Bedrocan's over 52,000 square feet production facility in Toronto, Ontario is licensed, and includes over 30 vegetative and growing rooms, and over three dispensing rooms.


Classification

Sector: Healthcare
Industry: Drug Manufacturers - Specialty & Generic
Keywords: Cannabis Farm Door Rooms Climate Marijuana Canopy Growth Cannabis Industry Licensed Producer Canopy Growth Corporation

Is WEED a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength

Indicators

Indicator Value
52 Week High 13.7
52 Week Low 0.455
Average Volume 2,389,763
200-Day Moving Average 2.545
50-Day Moving Average 5.718
20-Day Moving Average 6.005
10-Day Moving Average 7.997
Average True Range 1.358
RSI (14) 71.35
ADX 46.04
+DI 41.526
-DI 3.242
Chandelier Exit (Long, 3 ATRs) 9.626
Chandelier Exit (Short, 3 ATRs) 7.814
Upper Bollinger Bands 11.753
Lower Bollinger Band 0.257
Percent B (%b) 0.99
BandWidth 191.440
MACD Line 1.594
MACD Signal Line 0.725
MACD Histogram 0.8693
Fundamentals Value
Market Cap 4.34 Billion
Num Shares 372 Million
EPS -6.22
Price-to-Earnings (P/E) Ratio -1.87
Price-to-Sales 27.68
Price-to-Book 2.79
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 15.665
Resistance 3 (R3) 15.900 14.800 14.998
Resistance 2 (R2) 14.800 13.780 14.683 14.775
Resistance 1 (R1) 13.230 13.150 12.680 12.995 14.552
Pivot Point 12.130 12.130 11.855 12.013 12.130
Support 1 (S1) 10.560 11.110 10.010 10.325 8.768
Support 2 (S2) 9.460 10.480 9.343 8.545
Support 3 (S3) 7.890 9.460 8.323
Support 4 (S4) 7.655