chart: top stock trades for CGC


© Source: Chart courtesy of StockCharts.com
top stock trades for CGC

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)




chart: top stock trades for CGC


© Provided by InvestorPlace
top stock trades for CGC

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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. 




chart: top stock trades for CGC


© Provided by InvestorPlace
top stock trades for CGC

Click to Enlarge

Source: Chart courtesy of StockCharts.com

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. 

Top Stock Trades for Tomorrow No. 2: Carnival (CCL)




chart, histogram: top stock trades for CCL


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top stock trades for CCL

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Source: Chart courtesy of StockCharts.com

Carnival Cruise (NYSE:CCL) reported a top- and bottom-line miss and provided investors with a