CGC 1D Possible Bearish Pattern
Looks like a possible pattern.
1. "Bearish Golden CROSS" - 50 MA Crossed Down 150 MA. Very Bearish sign. We are officially on downtrend
2. We are at strong Fibonacci support level but looks like most likely support will be broken.
3. All indicators Oversold.
If support will hold and not be broken than CGC will bounce up and go to target 1 - around $60 or even target 2 - around $70.
but Most likely support will not hold and if support will be broken than CGC going down to around $42-$38
1. "Bearish Golden CROSS" - 50 MA Crossed Down 150 MA. Very Bearish sign. We are officially on downtrend
2. We are at strong Fibonacci support level but looks like most likely support will be broken.
3. All indicators Oversold.
If support will hold and not be broken than CGC will bounce up and go to target 1 - around $60 or even target 2 - around $70.
but Most likely support will not hold and if support will be broken than CGC going down to around $42-$38
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.