Canopy Growth Corp (CGC): Added to Position

All of the speculative sectors continued getting hit this week with recreational cannabis being one of the prime targets. Canopy Growth Corporation (CGC) tested its prior low – where I had a buy order fill at $5.80 on Monday – and then broke through it.

The order lowered my per-share cost -2.86% from $7.00 to $6.80. From here, my next buy target is $4.30, above a past point of support, and my next buy target is around $25.20 where CGC will have exceeded the target allocation size for my portfolio.

CGC closed the week at $7.12, up +22.76% from where I added on Monday.

Rivian (RIVN): Added to Position

The Electric Vehicle (EV) sector got hit extremely hard this week due to so much of the nickel supply, a much needed element in lithium battery cells, coming from Russia. Rivian (RIVN) and the other newbies to the space got hit the hardest, with RIVN continuing to lose support and find lower-lows, triggering a buy order on Monday at $35.65.

The buy lowered my per-share cost -6.14% from $79.75 to $74.85. From here, my next buy target is $29.85, another price point determined using the Fibonacci Retracement method, and my next sell target is $169.65, under a past point of resistance.

RIVN closed the week at $45.60, up +27.91% from where I added Monday.

Take Two Interactive (TTWO): Added to Position

Take Two Interactive (TTWO) got hit particularly hard on Tuesday, doubly strange as there were no news events related to the company or the sector plus the market actually rallied in morning trading.

Regardless, TTWO flew my next buy order at $139.26 which raised my per-share cost +$25.37 from $50.23 to $75.60, still a -41.12% reduction from my opening buy in the position at $128.40 on October 9, 2018.

From here, my next buy target is $113.50, above a past point of support, and my next sell target is around $211.50, just under TTWO’s all-time high.

TTWO closed the week at $151.37, up +8.70% from where I added on Tuesday.