Just digging into the #mj stock world. Looking at Cronos. Possible H n S pattern forming. Charts are fractal. We see repeating patterns. Maybe it's because the human brave craves form in repetition or maybe there's some deeper underlying level of connectivity. Either way we saw a head and shoulders play out earlier with very similar volume and RSI...
This sure looks familiar, doesn't it? CRON has a lot more going for it than TLRY, but we still lack justification for this recent rush up. Too high maaaan, it got too highhhh.
Notice the uptick in buying and selling volume here recently - this is typical in the end of a bubble cycle. Also notice the downward cypher pattern we are setup to form.
Bought a 50...
2 counts, left is weekly and right is daily for each count. Think we coming down for the 4, we are at some channel and PF fork resistance/support, but they are just imaginary lines. Could go deeper then the .5 potentially depending on the market over all. It my go as deep as 15 dollars ish. Deeper than that or even more time sideways may call for a recount. Monday...
CRON has the lowest hourly and 4hr RSI levels we've seen in a year, but we're not expecting a bounce until CGC and SPY find their new supports and bounce
There is no doubts. Trend has been broken and will see this 1st thing on Monday. Reporting earning on Tuesday, 26th March (I think) bmo.
This is a sure bet but again don't follow anyone blindly. Do your own dd.
My play on Monday will be:
Apr 5th: 18P
Too much hype with no fundamental basis for price action. Tilray dampened the party this week with their dismal earnings but Cronos will send everybody to the exits come Tuesday. I'm actually surprised we got this move in the sector so soon. If you look at the Daily we have lower highs slowly turn to a retest of support. We broke two major trendlines the past...
As charted in today's YouTube video, full details on how I arrived to the counts there.
Cronos is one of the older assets in a young market. On a long term view, I believe it's in the final waves of it's current cycle. However, that doesn't mean that it can't make significant new highs. It appears to be forming a flat continuation pattern here. With fundamentals...
Daily EMAs on CRON are notable to me as signs of weakness. The daily chart is a choppy mess and I will likely stop making daily CRON videos until we get more discernible patterns because trading chop is a recipe for losing money. If we break our supports we are looking into potentially hourly oversold conditions
CRON is likely to test low of today as support first thing tomorrow, If we lose that we're looking down at a test of our support zone in the mid $20 range, otherwise we will likely form an hourly equilibrium with a lower high compared to the high of today. CRON is on watch for a beak of pattern this week
NASDAQ:CRON
I can get a high off herb and off the $$ to be made off CRON hitting $30, on my BIRTHDAY. Exit at $35 the latest tell FRIEND FRIEND FRIEND!
I picked me up some wicked wild CRON July 19 call option strike $23, $24, $25, collect em all!
NASDAQ:CRON
AS Cronos tries to get back to the ascending triangle, notice the money flow getting better. Although the volume has been almost non-existent.
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CRON bulls are attempting to change the hourly trend after building a base of support in the mid $20 range over the past couple of weeks. Friday daily inside bar levels are the key levels for me on the short term, before testing either support or resistance within this daily equilibrium
Looks like a bullish flag on CRON that could look for a breakout short term. Orange lines drawn using the daily candles, right now it could be an ascending triangle unless it breaks down to the bottom support and takes on a more channel-like consolidation before moving up. Blue lines drawn reactive to 4hr which looks more like a symmetrical triangle before breakout.
CRON bouncing off the bottom the channel with less volume than ever before. Failing to hold the 4HR 50MA. Perhaps a good buy is at first low of the channel, off the 100 MA and around the $19.00 mark?
CRON bouncing off the bottom the channel with less volume than ever before. Failing to hold the 4HR 50MA. Perhaps a good buy is at first low of the channel, off the 100 MA and around the $19.00 mark?
