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Cannabis Sell-Off Opportunity: Watch for This Signal to Buy

Story Highlights:
  • Markets are selling off but people are eager to buy great companies at great prices.
  • This week Chad Shoop visits a potential buy in the cannabis sector: Canopy Growth Corp.
  • Check out his latest Bank It or Tank It to learn about his key price target to buy.
Cannabis Sell-Off Opportunity: Watch for This Signal to Buy

People are rushing to buy the crash. Stocks are down 30% and the reaction is to buy, buy, buy.

Every mom-and-pop investor I know wants to buy stocks today. But we need to be smart about it.

That’s why I changed up my Bank It or Tank It series.

Instead of trying to determine if I expect the stock to go higher or lower over the next 12 months, I’m focusing on only stocks that I would bank on going higher.

But it’s important to watch key price levels.

My goal is to help you buy the dip with great companies once we get the signal from the price chart.

Last week, I asked my Twitter followers to vote on which stock to feature. And the majority voted for Canopy Growth Corp. (NYSE: CGC), a major Canadian cannabis producer.

Shares have plunged 80% over the last year and a half.

In my latest Bank It or Tank It, I dive into the company’s fundamentals, sentiment and price chart. That’s all to tell you what key price target you should look to buy shares at.

My specialty is technical analysis. That means analyzing the price chart to decide on the next action to take.

That’s how we will know if we are going to buy into a company or not. But I know many of you want deeper details on the company’s big picture.

So I’m happy to point you in the direction of our resident expert on the cannabis sector, Anthony Planas.

He has done a great job navigating the differences in this volatile market. His YouTube channel features a ton of additional content going through the bigger picture for not only Canopy Growth, but also the broader cannabis sector.

A great video to start with is his “Better Buy — Aurora Cannabis or Canopy Growth”

Adapting to Market Volatility

Stocks have experienced historical volatility over the last few weeks.

That’s why I adjusted my Bank It or Tank It approach.

And I’ve done the same with my premium services. That includes “bonus trades” that seek to profit from market volatility.

One service has locked in a profitable trade every week for the month of March. There aren’t many strategies doing that right now.

But, my core strategy hasn’t even triggered a new trade. Instead, I’m using bonus trades to keep delivering gains in this market environment.

And we’re seeing tremendous success. Here are three recently closed trades:

  • A 53% gain on American Eagle Outfitters Inc. (NYSE: AEO) put options in four days.
  • An 81% gain on put options in Kohl’s Corp. (NYSE: KSS) in four days.
  • And A 20% gain on put options for Tractor Supply Co. (Nasdaq: TSCO) in just two days.
  • And a 52% gain on CareDx Inc. (Nasdaq: CDNA) put options in just five days.

Each of these trades was triggered by my analysis of the price charts. That’s helping readers get the shot at gains even during a falling market.

If you are not making gains like this in a volatile market, don’t worry.

I want to help get you started.

If you are new to options, don’t worry. I put together a quick-start training course so that you can hit the ground running after watching a short video. Click here to check it out.

 

Regards,

Chad ShoopCMT

Editor, Quick Hit Profits

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WHAT READERS ARE SAYING..

I am up $20,070 in closed positions from Feb. 18 through March 7.

- Bob Rowe

I started your system in December … I am ahead $29,000 … I put total faith in you and your system and it has worked for me very nicely. Thanks again I sure like your humble approach about this whole thing

- Dale Leiffer

I have made a little over $4,000 while being cautious.

- Chuck Goss

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