#CGCSTOCK #CGCSTOCKPRICE #CanopyGrowthCorp #CGCSTOCKANALYSIS2025
Canopy Growth Corporation stock upgraded to Sell Candidate.
(Updated on Jan 07, 2022)
The Canopy Growth Corporation stock price gained 3.78% on the last trading day (Friday, 7th Jan 2022), rising from $8.21 to $8.52. During the day the stock fluctuated 7.20% from a day low at $8.19 to a day high of $8.78. The price has fallen in 7 of the last 10 days and is down by -11.43% for this period. Volume fell on the last day by -460 thousand shares and in total, 7 million shares were bought and sold for approximately $60.72 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.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.11 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -34.66% during the next 3 months and, with a 90% probability hold a price between $5.30 and $7.56 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, January 06, 2022, and so far it has risen 3.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Corporation stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.72 and $9.92. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss
Canopy Growth Corporation finds support from accumulated volume at $8.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.59 between high and low, or 7.20%. For the last week, the stock has had a daily average volatility of 8.06%.
Is Canopy Growth Corporation stock A Buy?
Canopy Growth Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.559
Insiders are positive buying more shares than they are selling in Canopy Growth Corporation
In the last 56 trades there were 20.19 million shares bought and 10.03 million shares sold. The last trade was done 10 days ago by Lazzarato David Angelo who sold 672 shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.
Predicted Opening Price for Canopy Growth Corporation of Monday, January 10, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
Fair opening price January 10, 2022
$8.50
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