This is where I think we are, closing in at the end of the ABCDE, ABC, ABCDE consolidation. If the chart holds, I am looking for the final E wave to bounce off the channel around the 8 USD mark, and from there, we begin impulse wave #1 of the next Elliot cycle.
what do you think now as per your theory you may be correct. whats your thought on that huge bid the other day>?
cvachon
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@derekh42, Re: What I think now, It seems to me that Cron is the early phases of a reversal. It bounced right up that bottom tread line and been on an uptrend since. This next wave would be wave #1 of it's second Elliot cycle. If we are to gauge the last cycle as a proxy, it should be a three year cycle with a peak of 200 + USD. Wave one, I see hitting 25-27. Re: the buy order, I think it was from either a current partner or a future partner. There was a similar spike the week before Altria deal was announced in 2018. Time will tell.
derekh42
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@cvachon, I can see a backside test of the daily 200sma 6/8 weeks 14-15 usd. 200 sam was actually as the trend line for cron for months before it recently broke through it.
I appreciate your answer. I have followed Cron for two years and I don't know why it have lost your value if the fundamentals are intact. Yes, the Vape crisis and the other news are affecting, but the growth in this Industry is continue and fast. Thank a lots, I will pay attention to your publications.
cvachon
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@venswam, Fundamentals are strong but it is trading well beyond earnings. The analysts are using this to build up the narrative that it is over valued, to bring down price, so they can load up.