swara7kadir

CGC Great Potential for a Day Trade !!!

NYSE:CGC   None
$CGC had earnings today on the negative side. If you look at the Daily Chart on the left you will see that its below all its major moving averages (20ema,50sma/100sma/200sma) but its making a higher relative low so a slight concern there as this is slightly bullish (showing strength). Now if you look at the 15 min chart on the right (I use the 5 min and 1 min chart for day trading but i have to select 15 min chart to be able to show it to you) its currently holding the yellow support line which is a major support area. If it breaks that support when the market opens and makes a lower low/lower high which is a pullback then i would look to get short on it. I wouldn't be interested in going Long as its more weak than strong.

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