CRON - Earnings announcement coming up. Pop or Drop?
We've been watching this stock for some time now. In fact it has sold off drastically in the past.
Will the upcoming earnings pop the stock price? or will it drop down and trigger stop loss orders?
We would like the harmonic ratios shown with the blue C=A wave to complete at $6.85.
Also note that if pink C extends and = 1.272 x A, we get the same price of $6.85.
This would trigger stop losses and cause many traders to panic and throw away CRON stock cheaply!
There in lies the opportunity for us!
Lets see if CRON hits our targets and then reverses.
If you already have stock from previous buys, you may want to question the stops that may be in place.... some traders (like us) are looking at buying and adding CRON when the stops get blown out.
If the stock pops up after earnings, (we're wrong) then we'll call this a miss and simply buy on the next deep retracement in the future.
Will the upcoming earnings pop the stock price? or will it drop down and trigger stop loss orders?
We would like the harmonic ratios shown with the blue C=A wave to complete at $6.85.
Also note that if pink C extends and = 1.272 x A, we get the same price of $6.85.
This would trigger stop losses and cause many traders to panic and throw away CRON stock cheaply!
There in lies the opportunity for us!
Lets see if CRON hits our targets and then reverses.
If you already have stock from previous buys, you may want to question the stops that may be in place.... some traders (like us) are looking at buying and adding CRON when the stops get blown out.
If the stock pops up after earnings, (we're wrong) then we'll call this a miss and simply buy on the next deep retracement in the future.