Canopy Growth Corporation (NASDAQ:CGC) surged about 20% higher at one point Monday, rebounding from a 50% drop between Sept. 15 and Sept. 21 amid increased interest in the cannabis sector after the Department of Health and Human Services recommended marijuana be rescheduled.
From a technical analysis perspective, Monday’s climb higher is the result of a double bottom pattern that was formed at the 76-cent area on Thursday and Friday.
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