I rarely do Buy and Hope, but today, I am hoping for a bounce from yesterday's low, signalling that a weekly higher low is in. This seems to be a decent supply zone, but broader industry sentiments are still tough.
Averages signalling underlying weakness, but when sentiments change, this stock should be testing $8 again in the coming days or weeks. Still, trying to catch a bottom is generally a bad idea.
Trade with caution!
Averages signalling underlying weakness, but when sentiments change, this stock should be testing $8 again in the coming days or weeks. Still, trying to catch a bottom is generally a bad idea.
Trade with caution!
Comment:
If local resistance of $6.80 poses a problem today, we're likely to see CRON break the lower blue channel and look for a weekly lower low. Ancient supports are at $6 and $5.74-ish, and below that down to $5.50 and worse. This would complete a retrace of CRON's first parabolic move, 3 years ago. Considering broader industry sentiments, we may actually see this happen.
Comment:
No the biggest bounce, but a profitable move. Almost like a day trade.
Currently looks like it wants to retest the lower channel line, and may even break below it this time. I think it is all up to ACB and CGC this week... Be sure to have cash at hand for buying opportunities!
Currently looks like it wants to retest the lower channel line, and may even break below it this time. I think it is all up to ACB and CGC this week... Be sure to have cash at hand for buying opportunities!
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