CRON Cup and Handle - Watching for breakout
I have been playing with options for CRON for a little and personally I like the company a lot and see tons of potential for future growth.
A textbook cup and handle pattern forming on the 1h. RSI and MACD showing signs of upward momentum but volume is lower than I would like.
If it is able to break out I can see this going to $16 and I have a target of at least $20 by year end.
A textbook cup and handle pattern forming on the 1h. RSI and MACD showing signs of upward momentum but volume is lower than I would like.
If it is able to break out I can see this going to $16 and I have a target of at least $20 by year end.
Comment:
Played out beautifully and locked in some nice profit. Looking for retest of either top upward trendline or $14 which was previous resistance.
Comment:
Bounced off of top upward trendline. I am waiting for a pullback to ~$16 before re evaluating for another trade. Might be a nice shorting opportunity especially if it ends up breaking support as CRON looks to be overbought.