The tightening range we've been watching for 6 weeks is going to break this week, and I'm anticipating that break will either bring us back to test our all time highs or bring us lower to find a new support above the December lows. Whether this breaks up or down, I want to see 12-15million shares traded on the day to tell me the break is for real and has momentum.
This break will affect all names in the sector in the short term weeks ahead, so even if not playing Canopy, make sure to keep an eye on this chart.
That three drives pattern for CRON is applying pretty significant downward pressure. I'd be surprised if it broke out to the upside...
McGuireTO
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@chinawildman, I've never heard of that pattern before so just googled it. Thanks for sharing and teaching me something! I'm having trouble getting the fibs on the retraces lined up right now but I'll play around with it more