The first time I was introduced to CRON it was at $23/share and my first thought was it was a sell. Now that the early buyers have taken their profit and more states are looking at legalizing marijuana, it is ready for another run to new highs.
Using a logarithmic scale and Fibonacci retracement, we can see that the 61.8 lines up very nicely with an ascending...
CRON Gapped up this morning, and is filling the GAP, a sell stop is placed at 16.10 , (the gap fill price).
ADX mark a nice down trend, directional index too, su under 16.10 , we can join the trend again, nice and easy.
The more I study charts, the more I am of the belief that we are going to get a parabolic move up in the indices into the 3200 region by June.
IF this comes to fruition, we are likely to see major acceleration in CRON, into the 30 region
Cronos like many other Cannabis stocks just got to HIGH, but in the long term CRON has massive potential and intends to double production potential. The biggest issue with CRON is its extortionate PE ratio, it comparison to some of its peers.
NO bullish divergences on RSI, getting pretty long and deep for a 4... we at the edge of a gap in the vpvr, coming to some geometry and some fibs and fib time, vegas waves coming up for support, then its 420 from there?
-Held support from yesterday by 11 cents @ 17.40
-Broke resistance @ 17.93
-Short term hourly support @ 17.90
-If it doesn't break 18.76 (daily resistance), it's just a daily lower high keeping the overall downtrend in tact
No Joke. ... cause it's that day, ehhh, ok. so;
We could find support at the current level, on the 786, but if we don't it's likely a more complex correction that just might land in the golden zone, possibly maybe.
>>>I'm a noob in the #mj markets but this is a classic wait and see for me in my own opinion here basically mostly based on my own opinion which is...