CGC/WEED is moving toward previous resistance, $64-65 has been the territory of many false breakouts. This recent catalyst that reversed the downtrend may allow it to move past previous resistance, Merill Lynch initiated coverage of CGC/CRON/ACB, also at the same time CGC bought Acreage Holdings which was 3.4 billion dollar acquisition.
This was a big catalyst but more so was the Merill Lynch coverage it spawned a huge interest from new investors. Big volume event with 4x normal volume.
I will purchase options if it beats $65 and sticks. Target is $74 for me. Probably going to play this with a Debit Spread $5 apart. 6 weeks out.
Lets see how it plays out.
Paper trading this event. This isn't trading advice just a journal on tradingview.
This was a big catalyst but more so was the Merill Lynch coverage it spawned a huge interest from new investors. Big volume event with 4x normal volume.
I will purchase options if it beats $65 and sticks. Target is $74 for me. Probably going to play this with a Debit Spread $5 apart. 6 weeks out.
Lets see how it plays out.
Paper trading this event. This isn't trading advice just a journal on tradingview.