RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CGC
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Canopy Growth stock price ended on $3.53 on Tuesday after gaining 1.73%
(Updated on Feb 27, 2024)


Sell candidate since Feb 12, 2024 Loss -7.11% PDF
The Canopy Growth stock price gained 1.73% on the last trading day (Tuesday, 27th Feb 2024), rising from $3.47 to $3.53. During the last trading day the stock fluctuated 3.77% from a day low at $3.45 to a day high of $3.58. The price has been going up and down for this period, and there has been a -7.11% loss for the last 2 weeks. Volume fell on the last day by -417 thousand shares and in total, 2 million shares were bought and sold for approximately $8.33 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.07 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 73.50% during the next 3 months and, with a 90% probability hold a price between $5.33 and $13.86 at the end of this 3-month period.

CGC Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Canopy Growth stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.25. On a fall, the stock will find some support from the short-term average at $3.50. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, December 26, 2023, and so far it has fallen -37.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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Support, Risk & Stop-loss for Canopy Growth stock

Canopy Growth finds support from accumulated volume at $3.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.130 between high and low, or 3.77%. For the last week, the stock has had daily average volatility of 5.72%.

Canopy Growth is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CGC) For The Upcoming Trading Day Of Wednesday 28th

For the upcoming trading day on Wednesday, 28th we expect Canopy Growth Corporation to open at $3.52, and during the day (based on 14 day Average True Range), to move between $3.23 and $3.83, which gives a possible trading interval of +/-$0.300 (+/-8.48%) up or down from last closing price. If Canopy Growth Corporation takes out the full calculated possible swing range there will be an estimated 16.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.52 (0.28%) than the resistance at $3.80 (7.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Canopy Growth Corporation stock A Buy?

The Canopy Growth stock holds several negative signals and despite the positive trend, we believe Canopy Growth will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.066 Open Broker Account

Sell Candidate Unchanged

Predicted Opening Price for Canopy Growth Corporation of Wednesday, February 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price February 28, 2024 Current price
$3.52 ( 0.283%) $3.53

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Fibonacci Support & Resistance Levels

Level Price
Resistance R3 3.65 3.40 %
R2 3.60 1.99 %
R1 3.57 1.12 %
Current price: 3.53
Support S1 3.47 -1.69 %
S2 3.44 -2.56 %
S3 3.39 -3.97 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 4.11 16.43 %
R2 4.02 13.88 %
R1 3.80 7.65 %
Current price 3.53
Support S1 3.52 -0.283%
S2 3.49 -1.13%
S3 3.44 -2.55%
What is the symbol for Canopy Growth Stock and on which exchange is it traded?
The symbol for Canopy Growth is CGC and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Canopy Growth Stock?
The Canopy Growth stock holds several negative signals and despite the positive trend, we believe Canopy Growth will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

How to buy Canopy Growth Stock?
Canopy Growth Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Canopy Growth Stock.

What's the current price of Canopy Growth Stock?
As of the end of day on the 2024-02-27, the price of an Canopy Growth (CGC) share was $3.53.

What is the 52-week high and low for Canopy Growth Stock?
The 52-week high for Canopy Growth Stock is $5.93 and the 52-week low is $0.346.

What is the market capitalization of Canopy Growth Stock?
As of the 2024-02-27, the market capitalization of Canopy Growth is 316.168M.

When is the next earnings date for Canopy Growth?
The upcoming earnings date for Canopy Growth is Jun 27, 2024.

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About Canopy Growth Corporation

Canopy Growth Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. The company's products include dried cannabis flower, extracts and concentrates, beverages, gummies, and vapes. It offers its products ... CGC Profile

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