The Canadian Technician

Is Canada's New Economic Engine A Marijuana High?

Greg Schnell

Greg Schnell

Chief Technical Analyst, Osprey Strategic

Canopy Growth Corp (CGC.TO) just moved from the Venture to the $TSX exchange. Well, someone noticed. The stock absolutely soared to new highs. This article could be filled with puns about new highs, stimulus, kicking off a weed-end, etc. etc but I shall resist!

With political developments favoring the stock and a method of investing in the cannabis trade on the main exchange, the stock couldn't be contained in old price ranges. 


For old investors like me, we'll look for an entry that won't be found in the black Suburbans of movie and mayor folklore. Staying on trend and not over indulging will be important as this stock may trade with odd price action. A 50% move has already happened. This makes Bitcoin look mild.

Good trading,
Greg Schnell, CMT, MFTA.

Greg Schnell
About the author: , CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More