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Weekly Cannabis Report
November 4, 2024
 
   
 
Tilray   Canopy Growth   Cronos Group  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Tilray ST: short term rebound towards 1.88
 
Our pivot point stands at 1.55.
 
Our preference:
Short term rebound towards 1.88.
 
Alternative scenario:
The downside breakout of 1.55 would call for 1.44 and 1.38.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the share stands above its 20 day moving average (1.638) but below its 50 day moving average (1.692).
 
Analyst Views Chart
 
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Canopy Growth ST: the upside prevails as long as 5.83 is support
 
Our pivot point is at 5.83.
 
Our preference:
The upside prevails as long as 5.83 is support.
 
Alternative scenario:
Below 5.83, expect 5.03 and 4.55.
 
Comment:
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 6.3295 and 6.5354).
 
Analyst Views Chart
 
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Cronos Group ST: as long as 2.77 is support look for 3.41
 
Our pivot point stands at 2.77.
 
Our preference:
As long as 2.77 is support look for 3.41.
 
Alternative scenario:
The downside breakout of 2.77 would call for 2.58 and 2.46.
 
Comment:
The RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 3.0095 and 2.987).
 
Analyst Views Chart
 
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