Shares of marijuana player Canopy Growth (CGC) continue to trade sideways to lower after an over 50% surge just a couple weeks ago. This trading action is known as consolidation and signals another leg higher soon. A few things to keep note of. End of year tax loss selling may hamper its surge into year end, keeping the stock neutral to slightly higher form here. However, the lack of selling in January (once tax loss selling has concluded) is likely to yield as much as another 50% upswing. The key is to accumulate in these final few weeks of the year and be fully invested in January for the move.
Join Verified Investing Alerts for profitable swing trade action daily! More interested in amazing option trades? Join Verified Option Alerts and see magic happen. View the VERIFIED Track Records for each service on their respective pages. Read the reviews here. Master Trader Gareth Soloway has made his members millions since he launched his website in 2007. He profited during the Great Recession and every year since. Get his live trade alerts now!