MomentumTradingHQ.com Featured Stock for the Week of 3/25/24 - 3/29/24: Canopy Growth Corporation (CGC) Day Trade Return of 23.1% on Wednesday

The release of documents that support a recommendation by the U.S. Department of Health and Human Services to lower the classification of cannabis under federal law to Schedule III from Schedule I ignited a rally in cannabis stocks last week. Canopy Growth Corporation (CGC) led the group with a weekly gain of 89.3%.

Our proprietary real time alert services picked up CGC's unusual stock and option volume early Wednesday morning. Depending on your favorite momentum indicator several opportunities presented themselves to get in to capture a portion of the daily return.

As shown in the chart below, a day trade entered at 8:55 am Wednesday and closed at the end of the day would have gained 23.1%. The chart shows the indicators that were triggered as well as the time.

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