AzizKhanZamani
Long

CRON Key Level Broken| Increase In volume| EMA Cross

NASDAQ:CRON   CRONOS GROUP INC
Quick update on CRON , which has broken a key resistance level , now potential support upon retest

Points to consider,
- Trend change with Higher High
- Structural resistance broken
- RSI diverging
- Stochastics in upper regions
- EMA’s support
- Volume increasing

Higher high has come to fruition; this is the first time in CRON’s bear trend, signalling a potential reversal.

Structural resistance broken, now support upon a confirmed S/R flip retest. Stochastics in upper regions can stay here for an extended period of time, however lots of stored momentum to the downside.

RSI diverging, confirming a bullish divergence as CRON puts in lower lows. EMA’s cross bullish , first time this has happened in the downtrend for CRON .

Volume is visibly increasing confirming a technical level is being tested, this needs to sustain for a bullish continuation.

Overall, in my opinion, CRON has healthy volume coming at key resistance now potential support. A continuation is probable, confirming the macro trend change.

What are your thoughts?

Please leave a like and comment,

And remember

“There is a huge amount of freedom that is derived from not fighting the market.”
― Yvan Byeajee,


Comments

In my opinion, the key level to break is $8.59.
+1 Reply
@Barkworth agree, a hold above that level will confirm a bullish bias
Reply
Barkworth AzizKhanZamani
@AzizKhanZamani, absolutely. Lets see those levels hold on Monday. What a day, Friday!
+1 Reply
@Barkworth Saturday here in Australia! haha
Reply
Most crosses are retested before the final upswing.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out