CGC price dropped suddenly towards $38 price level. Further increase in the Bears’ pressure may drop the price at $38 demand level.
Supply levels: $43, $47, $52
Demand levels: $38, $32, $27
CGC Medium-term Trend: Bearish
CGC is bearish on the medium-term outlook, The Stock’s price was bullish a few days ago. The price had a fake bullish breakout on June 20 in which the price was at $43 price level. The Bears would not allow the Bulls to prevail in furthering the increase in CGC price. CGC price dropped suddenly towards $38 price level.
The CGC price has crossed the dynamic support and resistance level downside and it is trading below 21 periods EMA and 50 periods EMA. The Stochastic Oscillator period 14 is at 50 levels with the signal lines pointing down to indicate a sell signal. Further increase in the Bears’ pressure may drop the price at $38 demand level.
CGC Short-term Trend: Bearish
The CGC price is Bearish on the short-term outlook. The CGC price was increasing towards the $43 level and the price had a temporary breakout at the level. The Bears reacted against the increase in price sharply and there was a sharp price decrease towards the $38 price level.
As at the moment, the price is trading below the 21 periods EMA and 50 periods EMA. The Stochastic Oscillator period 14 is below 25 levels pointing down to connotes sell signal.
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