Getting near the upper limits of this move up in wave 3.1 of what should be a nice extended 3rd wave someday.
But for now we may be seeing the highs for the first subwave called wave 3.1.
IF this is the high, then we can begin to look for harmonic retracement patterns such as Gartley and Bat. This would give us a great 3rd chance (for those that don't have this stock yet) to buy near the lows. The Buy Line has been a great reference line for us since last year. The lows should not get as low as others that have bought on the 1st chance or the second chances last year. But this should still provide a very nice buying opportunity.
Look for the 10.25 to 12.00 range as indicated by the green buy zone.
If you have CRON stock now, and want to play for the retracement, look for the snap and break lower as in the harmonic patterns to confirm point b. Then on those small retracements back up near point c, would be a great place to short.
Long term investors just hold for the long haul.
Aggressive traders can look to short near here at the $20 zone and watch the upper channel for resistance highs. We are beginning to get some rsi divergence on small time frames.
I am bearish now. I have 100 March 20 puts.... so my opinion is obviously biased
Thanks for reading my silly Old Fart thoughts, I appreciate it!
But for now we may be seeing the highs for the first subwave called wave 3.1.
IF this is the high, then we can begin to look for harmonic retracement patterns such as Gartley and Bat. This would give us a great 3rd chance (for those that don't have this stock yet) to buy near the lows. The Buy Line has been a great reference line for us since last year. The lows should not get as low as others that have bought on the 1st chance or the second chances last year. But this should still provide a very nice buying opportunity.
Look for the 10.25 to 12.00 range as indicated by the green buy zone.
If you have CRON stock now, and want to play for the retracement, look for the snap and break lower as in the harmonic patterns to confirm point b. Then on those small retracements back up near point c, would be a great place to short.
Long term investors just hold for the long haul.
Aggressive traders can look to short near here at the $20 zone and watch the upper channel for resistance highs. We are beginning to get some rsi divergence on small time frames.
I am bearish now. I have 100 March 20 puts.... so my opinion is obviously biased
Thanks for reading my silly Old Fart thoughts, I appreciate it!