Going out on a limb here, let me know what you think. I'm expecting to see a gap up in pre-market and continuation into the open. Especially since the price was pinned down at the previous close to burn the premium. Once we get past the initial 15 min algos going at it, I think retail will buy heavy sending the price upward through the remaining resistance levels and hopefully past the ATH. If we get to there we will break through the ATH as the RSI moves high into the oversold range and at this point retail will start to get skittish, volume will start to dry up, then most will sell for profit and we will retrace back down to around 51.98 towards the close. Otherwise it may go down a little.
Disclosure: Don't follow anyone into a trade, especially me as I do not normally know what the hell I'm doing.
The response to ACB's earnings call and CGC's earnings call were glowingly positive even with highlighted operating losses, and CRON's is coming in the next two weeks. Their revenue growth is insane, and the losses truly represent an arms race in this specific market vertical as brands fight to establish their footprint on the market. IIPR got added to the Russell 2000 as well signalling incoming institutional investors buying it up for their mutual funds and ETFs, and all of this good news is likely to bring up all related securities like ships at dock rising on a high tide in the short term.
chuckination
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Remembered the CRON earnings date incorrectly. They're estimated to report Apr 29, so there's plenty of time for this sector to go through atleast one or two more boom and bust cycles before we hear their details.
DannyJack
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@chuckination, do you have a solid source for the ER on April 29? RobinHood alerted me that it was on Feb. 22 Premarket.
chuckination
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@DannyJack, I was thinking that it was supposed to be coming up sooner than April, and your February date matches what I originally thought. Zack's is showing an expected date of 4/29/19, though: zacks.com/stock/quote/CRON?q=cron