Canopy Growth $CGC could open up a bearish outlook if price closes below $40. CGC Daily Chart (click to enlarge) $40 as a Key Pivot:- CGC recovered at the start of the year, bouncing off the $26 area.- Price came up to $50 and retreated, but respected a key support around $40.- At this point in April, price also respected the 200-day simple moving average (SMA) as support. - This looked like a strong confirmation for bullish continuation.- The subsequent rally even broke through $51. - However, instead of testing the 2018 highs around $$58, price retreated.- Now, price is back around $40. Price actually cracked it already but is still trading mostly above it. There is still some support here holding up CGC against a bearish correction.- If price closes below $40, and stays below it for a week, the downside will open up towards the $24-$26 support area.