Should we invest in cannabis?
Canopy Growth Corporation experienced strong growth in shares price from 1.15 to 59.25 in the lapse of approx. 3 years. From the peak, a dip followed to 25 and level back to 50 where CGC is now. We can identify 3 waves sequence from bottom to top and a potential long-term correction if prices stay below the key level of 51.23. If the corrective wave scenario continues, prices are looking for the attractor at 30 – 14 to be reached ideally between October 2019 to Mar 2021. If the key level is broken, then bulls are back in the game, taking the price to the next attractors and new highs.
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