MomentumTradingHQ.com Featured Stock for the Week of 4/29/24 - 5/3/24: Canopy Growth Corporation (CGC) Day Trade Return of 78.3%

Cannabis stocks were up in trading Tuesday after the Associated Press reported that the US Drug Enforcement Administration planned to reclassify marijuana as a drug that posed lesser harm than other substances.

Our proprietary real time alert services picked up CGC's unusual stock and option volume early Tuesday 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 9:00 am Tuesday and closed at the end of the day would have gained 78.3%. The chart shows the indicators that were triggered as well as the time.

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