$30 Is Still a Possibility for Canopy Growth Stock
Canopy Growth (NYSE: CGC ) has acted just as we predicted it would . The gap that occurred in January is refilling and the price of CGC stock could fall another $5 quickly. In order to understand gaps you need to understand how support levels form.
Suppose a stock is trading at $20. For each trade, there is a buyer and a seller. Now suppose the stock price falls to $15. The sellers believe that selling was the correct decision, and the short-sellers are happy because they have a profit.