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Stocks added to this week’s gain with another rally on Thursday. With that in mind, let’s look at a few top stock trades as we head into Friday.
Top Stock Trades for Tomorrow No. 1: Canopy Growth (CGC)
The cannabis stocks have been regaining momentum lately, as we highlighted earlier this week. Taking a closer look at Canopy Growth (NYSE:CGC), we can see that action unfolding as well.
Shares are up more than 10% at the time of this writing, as buyers continue to step in.
Above is a daily chart and below is a weekly chart. In both scenarios investors can see how the stock is now running into the 50-week and 200-day moving averages. Above opens the door to the $18.25 level.
If CGC clears that, then look for a move to $19.50 to $20 area. If it can clear and hold $20, Canopy could re-challenge the May high near $22, followed by the 200-week moving average up near $23.
On the downside, though, a break of the 50-day moving average could put a gap-fill in play, possibly followed by a test of $14.
Remember, this group can run hard and also run out of steam at the snap of one’s fingers. You’ll have to pivot if these stocks do too. Don’t be stubborn.
Editor's Note: Click here to keep reading.
VIDEO: The electric car battery demo breaking the Internet
Dear Reader,
A new type of battery is taking the Internet by storm.
Click here to see it in action.
When you see what it can do you might not believe what you are seeing is real.
Insiders are calling a “paradigm shift” in energy technology…
A “forever battery” that will usher in the next great energy revolution.
Even going so far as to call it the “Jesus Battery” because the properties it exhibits are so miraculous.
Forbes calls it simply, “The battery that could change the world.”
Already, the world’s biggest auto makers are inking blockbuster deals to get this new type of battery into their fleets as soon as possible—General Motors… Ford… Toyota… BMW… Volkswagen… Honda… Mitsubishi… Mercedes… Nissan… Hyundai… Audi… and Porsche…
Even leading oil corporations like BP and Exxon are bracing for the impact it’s about to have on society and are now making huge investments.
What is this new battery exactly, and what is it capable of?
Matt McCall
Editor, Matt McCall’s Investment Opportunities
P.S. Right now the world’s most influential businessmen are storming this red-hot technology right now, while it’s still in its infant stages: Microsoft Founder Bill Gates, Amazon founder Jeff Bezos, China’s richest man and Alibaba founder Jack Ma, and Facebook founders Mark Zuckerberg & Dustin Moskovitz just to name a few. Click here for the full story.
