CRON has recently broken out of its consolidation pattern and pulled back to that same level. When it broke out, it did so on increasing volume. In the recent pullback it has been on decreasing volume. This shows strength, in the fact that the recent sell off has been on lower volume. Now that its pulled back to the same range of where it broke out of its...
Crypto Crusader here with an extremely speculative pick, a weed stock, to be exact Cronos Group.
I don't have the time to discuss a more detailed analysis, but I'll post this chart to explain my thinking regarding technicals.
In regards to fundamentals, Altria (the maker of Marlboro) owns just under 50% of Cronos Group. You have to wonder, the maker of the...
TICKER: $CRON
CRON is basically the same as CGC. Huge bear volume on Friday with a 10%+ pull back. Bull flag has been negated and we are looking for a daily higher low compared to 6.38.
Watch for $SPY correlation as it will have a factor in the timing of the bounce. Also watch correlation with CGC and other canadian MJ names. Remember, RSI levels could get to...
Buy cronos at it moves above resistance. Volume also increasing and the pullback to 8$ (entry point) on january 16th confirms the new support. Could easily squeeze to 10$ as equity markets keep melting up
After a gruelling 2019 cannabis space seems to be breaking out of the falling wedge pattern. CRON has a nice tight flat base and breakout of falling wedge with volume accumulation clues the past few weeks. Could be an indication for bull run to come in 2020!
We're likely to see a retest of the area of resistance, to confirm if we have a S/R flip. If resistance indeed turned support, the stock is a buy in my opinion, likely to retrace to the green channel, before probably looking for a weekly higher low.
Looks like a possible break out. 35% of the float is shorted. If the bulls remain in charge, they're going to take...
RSI bullish reversal, consistent higher lows.
Middle bollinger band now support opening up the chart to the $10 level.
7&12 moving averages now support.
Short cover signal on the MACD cross and Histogram ticking green.
Stochastic has reset and moving to the top of the range.
Momentum which is regarded as a leading indicator was signalling this move for some time....
The recovery continues. For those worried they missed the boat, this is nothing more than a bear market rally. Nothing to inddicate fundamentally that weve reachedd the true bottom. This will rally back (impossible to tell how high) but short term profits are very likely.
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...
Not quite as convincing a session for CRON today as its peers but nothing wrong with slow and steady.
Channel trend line resistance (black line) could possibly be a good level to consider a long position.
Lets see if we can get continuation rather than another flash sale.
I think the base in $CRON offers a great opportunity to go long here, with very low risk and potentially huge rewards if we get a new big trend in the 2-Month timeframe. This chart is ripe for a 10x-20x advance, once it gains traction from here.
Cheers,
Ivan Labrie.
