InvestingHaven was very bullish on Canopy Growth (WEED.TO). This bullish Canopy Growth stock forecast published 3 months ago is proof of it. Even premium subscribers (indeed, crypto members also receive other juicy investing opportunities) received a buy alert on January 9th at a price of 39.9, and they are looking at a profit of 69% right now. Talking about spot-on forecasts for 2019, right. After some consolidation Canopy Growth is now set to break out to all-time highs. What does this mean? As a segment leader of the cannabis space it suggests our bullish cannabis stocks forecast is about to get traction. We firmly believe this sector will hold the top spot in the TOP 3 investing opportunities of 2019.
As a refresher this is how bullish we are on Canopy Growth’s stock target in 2019. This quote comes from our Canopy Growth forecast:
- If Canopy Growth rises fast in the coming months its upside target is 140 to 160 CAD. The condition is that it peaks in the period April to June. Our base case Canopy Growth stock forecast for 2019 is 150 CAD.
- If Canopy Growth rises slowly, and only accelerate after the summer of 2019, its target becomes 208 to 270 CAD. The condition is that it peaks in the period July to December. Our base case Canopy Growth stock forecast for 2019 is 200 to 250 CAD.
Thinking InvestingHaven’s research team has gone wild?
Not at all, on the contrary.
Let’s look back in the last 10 years at the most juicy opportunities every year:
- 2010: silver price tripled in 6 months
- 2011: gold price almost doubled in 9 months
- 2012: biotech stocks went ballistic
- 2013: 3D printing stocks went ballistic
- 2014: China’s stock market more than doubled in 9 months
- 2015: crude oil crashed 80% in less than 9 months (short opportunity)
- 2016: sugar price and base metals doubled in 9 months
- 2017: Bitcoin and cryptocurrencies went up 10-fold in 9 months
It is a matter of picking the right sector, and there is typically 2 to 3 sectors or opportunities with really mega returns.
Our investing thesis since half a year is that cannabis is the place to be in 2019 going into 2020. Canopy Growth is the evidence, and it makes perfect sense. On January 9th, 2019 when we flashed a strong buy alert on Canopy Growth it was clear that this stock had amazing relative strength against its peers, right after the strong decline of global stock markets.
We did interpret this from a sector level, not as an individual stock play.
The chart of Canopy Growth is breath-taking. It is about to test a triple top breakout now. Note that this is the 3d attempt to rise above last year’s August top without falling back to support (earlier this month it declined but did not touch support).
Yes this stock chart not only represents an amazing investing opportunity, it also suggests the whole cannabis stock space is about to move strongly higher. Reports like these ones here and here will be proven useless, mark our words!